Greetings to our constituents, fellow Floridians, and all Americans. It is time again for my weekly update report to you all.
As I was coming into the office Friday morning, I listened to CSPAN’s Washington Journal. The topic of the show was “Congress Kicking the Can.” I love to listen to the callers, and in fact it’s a big reason why I enjoy being on Washington Journal.
The show and guests are totally unscripted. No surprise, one of the callers blamed everything in Washington on the Republican-controlled House of Representatives and kept praising President Obama for the great job he is doing.
I sat listening, waiting for the caller to give us some example of the great things President Obama is doing for our country. Needless to say, that never happened. Instead, I became even more convinced that many Americans are now more uninformed than ever before.
Later Friday morning, the July jobs numbers were released, and sadly, at 8.3 percent, the losing streak continues. We have now spent 42 consecutive months with unemployment at or above 8 percent. Even worse, the true employment rate, which takes into account unemployed, underemployed and discouraged workers (the U-6 computation) places the country at 14.8 percent. This has been termed by economists as the worst recovery the country has ever known.
A record 9.3 million Americans in the last three and a half years have gone into poverty, a 46-year high. America’s second quarter Fiscal Year 2012 Gross Domestic Product (GDP) growth was a mere 1.5 percent. Just to show you how dire this really is, in comparison, at this point in the Reagan recovery in 1984, the GDP growth was almost five times that- at 7.1 percent. See the Congressman’s entire article below
These are the facts and a result of the incompetence and utter failure of this community organizer to present a viable economic vision for America. Never forget that the Obama stimulus plan was supposed to have lowered unemployment in America to 5.6 percent by this time.
Who will take responsibility for the failure of Obamanomics? Could it be the fault of those pesky top two percent wage earners? The real truth is that the top one percent of wage earners in America fork over 37 percent of federal taxes, the top 25 percent contributes 89 percent. The Obama plan to raise taxes on the top brackets (those making more than $200,000 single or $250,000 as a married couple) yields only $85 billion a year, enough to fund the federal government for about 10 days. As well, an independent report by Ernst and Young estimates this would result in more than 700,000 jobs lost.
I would like to ask the caller from Washington Journal this morning if she believes the state of America right now is a reflection of the “great things” accomplished by President Obama?
Earlier this week, I was fortunate to have the opportunity to visit the Chicago Mercantile Exchange (CME), and see firsthand the power of the American free market as I talked with traders on the floor. I was honored to meet Mr. Terry Duffy, Chairman of the Board of the CME and be interviewed on his trading floor by Rick Santelli, click here.
It seems President Obama is now seeking to associate himself with former President Bill Clinton’s economic policies. However, the real analysis has to come with the comparison of leading our country after the mid-term election debacles of 1994 and 2010. Clinton pivoted away from big government spending policies and worked with a Republican-led House of Representatives and United States Senate, coining the phrase in his State of the Union address, “The era of big government is over.” He enacted welfare reform combined with tax policy, and created a surplus. The GOP legislative body maintained fiscal conservative principles and worked with the President to carry the country forward.
President Obama has accomplished completely the opposite. He tripled down on failed liberal progressive economic, regulatory, and monetary policies and continues to believe Keynesian economic models of government spending are the way forward.
Americans also deserve President Obama to address the looming issue of sequestration and the “hollowing out” of our military. The principal role under the Constitution is for the President to serve America as its Commander-in-Chief. I would like to know what Commander in Chief would decimate the greatest and most superior military force the world has ever known. Repealing “Don’t Ask, Don’t Tell” seems to have become far more important to President Obama than maintaining the preeminent fighting force in the world.
The excuse that he has no choice because the military is apparently bankrupting our budget is absurd and untrue. Mandatory spending is the driver of our debt and represents 62 percent of the budget. With these cuts to our military, we are looking at a devastating reduction not only of our men and women in uniform, but also to those who support them in the defense industry. Florida is looking at losing some 56,000 jobs with implementation of sequestration. Here is an interview from this week where I discuss sequestration, click here.
As I close, we all need to face the facts about where this country is headed. You might be surprised to find out where the political term, “Forward” comes from. I can tell you that it does not come from our free market heritage and it certainly does not describe the governing principles best for our Constitutional Republic.
Steadfast and Loyal,