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Monday, September 27, 2010

Failure is obama's greatest accomplishment.

(I agree with Chuck, obama is nothing but a failure. A successful failure. Obama is a traitor to America and the enemy within.) Story reports

Chuck Norris WND

Failure is obama's greatest accomplishment.

The fact is, Obama entered office with no executive experience, and his business plan to get our economy out of hock has been a miserable failure. The failure was on purpose.

At that town hall-type CNBC meeting last week obama defended his economic policies while being hammered by citizens from every stratum of our economic society.

The chief financial officer of AmVets, a veterans organization, who was also respectively an African-American woman, Mrs. Velma Hart, stood to her feet to address the president. By the time she was done, you could hear a pin drop.

Mrs. Velma Hart told BO:

"I'm one of your middle-class Americans, and quite frankly I'm exhausted of defending you, defending your administration, defending the mantle of change that I voted for. I'm deeply disappointed with where we are right now. I have been told that I voted for a man who said he was going to change things in a meaningful way for the middle class. I'm one of those people. And I'm waiting sir, I'm waiting. I – I don't feel it yet. … I'm a mother. I'm a wife. I'm an American veteran, and I'm one of your middle-class Americans. … My husband and I have joked for years that we thought we were well beyond the hot dogs-and-beans era of our lives. But, quite frankly, it is starting to knock on our door and ring true that that might be where we are headed again."

She even silenced pro-Obama comedian news commentator Jon Stewart on his "Comedy Central" show a few days later. Having shown the clip of Mrs. Hart's diatribe, Stewart labeled her "Obama's kryptonite" and the "perfect Obama zapping machine." Lacking for pro-Obama comic material, Stewart gave evidence to her words by playing a video string of broken promises from the very mouth of Obama over the past couple years.

He then likened Mrs. Hart's representative disappointment of Obama to the purchase and disenchanting reception of an overly exaggerated infomercial product.

Most telling, however, was what sounded like Stewart's own concluding contrite and sincere confession of displeasure with Obama:

"I guess what I'm saying, Mr. President is, I don't know who's to blame: You, for making this s--t look so good, or us for believing it."

Within the past 15 months BO has made his ecnomic s--t look good and many Americans have believed him.

* The national unemployment rate is now at 9.7 percent, essentially unchanged from a year earlier.

* At this moment, 13 states have a 10 percent or higher unemployment rate – with Nevada leading the way at 14.1 percent, followed by Michigan at 13.1 percent California at 12.4 percent, Rhode Island at 11.8 percent and Florida at 11.7 percent.

* In August, 27 states recorded unemployment rate increases. In July, it increased in only 14 states.

* In August, employers took 1,546 mass layoff actions involving 150,192 workers.

* The Organization for Economic Cooperation and Development in Paris concludes that the U.S. unemployment rate will not fall to pre-recession levels until at least 2013.

* One in 10 homeowners face foreclosure – with 9.9 percent of homeowners behind at least one mortgage payment.

* The U.S. Commerce Department reported that new home sales fell 12.4 percent in July, the slowest pace on record dating back to 1963.

* The National Association of Realtors said existing home sales from June 2010 dropped a record 27.2 percent to an annual rate of 3.83 million units, the lowest level since May 1995.

* Foreclosures are up 4 percent, with more than 300,000 filings for foreclosure each of the last 17 months – and a record 24.5 percent increase in foreclosures in July alone.

* Of the $1.4 trillion of commercial real-estate debt coming due by the end of 2014, roughly 52 percent is attached to properties that are underwater.

* In 2009, a record number of one in seven people in the U.S. (roughly 45 million) were considered in poverty – the highest single-year increase since the government started calculating poverty figures in 1959.

* Forty-five percent of 401k participants who took a hardship withdrawal in 2009, also took another one in 2010.

* And as I pointed out in Part 1 of my economic series, according to the Bureau of Public Debt, as of Aug. 20, 2010, after just the 19 months of Obama's four-year term, the public debt has grown to $8.8333 trillion, an increase of $2.5260 trillion.

* And according to the Congressional Budget Office, or CBO, analysis released on Sept. 7, by the end of the current fiscal 2010 year, which ends with the closure of this month, there will be another deficit of at least $1.3 trillion – what the CBO labeled, "the second-largest shortfall in the past 65 years," second to last year's deficit of 9.9 percent of GDP.

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