As part of my pre-election analysis of the candidates, I realized that the Obama administration has failed completely. When he took power, President Obama blamed Bush for the situation he inherited. After 3 1/2 years of failure, he continues to blame Bush. Our President refuses to accept responsibility for the economy. As a result of his lack of leadership, he has made this economic recovery the worst in modern history. As the election approaches, he is pounding his chest taking credit for the economic turnaround. This month, the economy grew at the rate of 1percent a year. For the last quarter, economic growth has been minimal. Yet the President continues to deceive the American people by claiming an economic turnaround when in fact we are on the cusp of another recession.
President Obama's economy has destroyed the lives of many Americans in his quest to make America a socialist country. It is unlikely that those who are unemployed will find jobs at similar pay to the jobs they lost. After their unemployment insurance runs out, the unemployed will join the welfare. If they are lucky, they may get a minimum-wage job in the retail industry.
Due to the lack of a budget and uncertainty about current and future taxes, many corporations and small businesses are deferring capital improvements and business expansion. The $16 trillion deficit is crippling our economy and places the burden of repayment on the backs of our children and grandchildren. The new health care legislation penalizes businesses that have over 50 employees. As a result, businesses are refusing to grow once they near the 50 employee ceiling. Larger companies are holding onto their cash rather than building new factories and hiring more workers. For example, Intel Corporation has almost $14 billion in cash and short-term investments on their balance sheet.
General Motors, also known as Government Motors because it was bailed out by the administration, has over $34 billion in cash and short-term investments on their balance sheet. Meanwhile the value of the half-billion shares of GM that the government bought at the equivalent of $53 a share is only worth $25 a share today. The Obama administration certainly knows how to buy high and sell low! It would have been far better to let General Motors fail and a profitable company like Ford pick up the viable pieces. As for Chrysler, the government "sold" it to Fiat, an Italian car company. Fiat got 52 percent of the company for pennies on the dollar and is now looking at buying most of the remaining shares outstanding. They will use present and future cash flow generated from Chrysler's operations to pay for the buyout. There was no intent by the government to sell Chrysler to American interests. The administration turned this once proud company that was founded by the entrepreneurial Walter Chrysler, over to foreign competitors. It will be interesting to see if Fiat funds the Obama Presidential library or if they appoint President Obama to the Fiat Board of Directors when the taxpayers run him out of office.
The energy boondoggle demonstrates that the Obama administration refuses to support the domestic energy industry. The administration has denied permits for new energy drilling, blocked essential pipelines required to bring oil to market and even stopped mining of uranium on federal lands. Meanwhile our Emperor is a strong proponent of green energy. Today A123 went into bankruptcy. This company makes batteries for electric cars and hybrids. Despite $249 million in government loans, the company could not make ends meet. This comes after the federal government lost over $500 million in loans to the now bankrupt Solyndra, a green energy project highly touted by the administration. While pushing these failed businesses, the President attacked clean coal and other fossil fuels.
Our country has over 200 years of coal that can be used to power our nation for many generations. Coal is cheap, proven, and thanks to innovations over the last 30 years, it is environmentally friendly. Obama has impeded the coal industry here in Pennsylvania at every turn. To prove he is not picking on Pennsylvanians "who are clinging to their guns and their religion", the administration closed a West Virginia coal mine. In the stroke of a pen he wiped out the jobs of 250 miners and countless other jobs and businesses supported by the mining industry. His ban on mining uranium not only cost us thousands of jobs but also left our country dependent on imported uranium to fuel our nuclear reactors. There was one promise that he did keep. In his 2008 election campaign he stated, "energy prices would necessarily skyrocket."
Energy Secretary Chu is on track to implement President Obama's energy boondoggle. Mr. Chu once said, "somehow we have to figure out how to boost the price of gasoline to the levels in Europe" just before he was selected as Energy Secretary. Obviously, Obama wanted Mr. Chu as he was committed to implementing the President's high gas price policy. Well guess what? Gasoline was about $1.85 a gallon then and now it is $3.90 a gallon and positioned to move higher. Our President has succeeded in raising gasoline prices to a level that hurts every American family. He has shut down mines and curtailed new energy projects to the point where America is now at the mercy of dictators in unfriendly countries.
The President's foreign policy is an embarrassment to every American! His non-response to the attacks in Benghazi and the murder of our citizens shows that he will not stand up to his Muslim brothers. When he bowed to the leader of Saudi Arabia he showed that he was submissive to a foreign power. His response to the Libyan incident is consistent with his subservience to Saudi Arabia and the Arab world. His betrayal of Israel has damaged our relationship with our only true friend in the Middle East. His irresponsible and disrespectful treatment of Benjamin Netanyahu demonstrated President Obama's contempt for Israel and Jews around the world. By returning the bust of Winston Churchill to the British government, he insulted another one of our best allies and a staunch supporter of our country. By blocking the Keystone pipeline, he forced our northern neighbor, Canada, to build a new pipeline to the West Coast to supply China. China's ultimate goal is the destruction of the United States. To the Communist Chinese, we are imperialist monsters. Obama's actions have strengthened our enemy and made us weaker. Under Obama's administration America has lost our preeminent position as leader of the free world. He has demonstrated through his actions that we disrespect our allies while bowing to those who wish to destroy us.
In a previous article I mentioned that I could not support Mitt Romney nor can I support Obama. Instead, I would write in Herman Cain on my ballot. As Election Day draws near, Obama is leading in the polls. My write-in vote for Herman Cain will actually support the re-election of President Obama. When I look what this President has done to our country in the last four years, I reconsidered my vote. I will vote for Mitt Romney not because I support him but because I fear our country will not survive another four years under the rule of the Emperor Barack Hussein Obama. I suggest that each and every one of you carefully consider the candidates and vote for the one you believe will be best for America. If we are to defeat President Obama, we need to rally every conservative American and get them to the polls on Tuesday, November 6.
© 2012 Gordon Smith - All Rights Reserved