The whole Truth, and nothing but the Truth.

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According to Senator Doug Whitsett, R-Oregon, a number of economic records have been established during the first 32 months of the Obama administration.

Federal spending has surpassed twenty five percent of Gross Domestic Product for the first time since World War II. Historically, the spending rate has be in the area of 18% according government publishings. It is clearly not sustainable.

The sum of that federal debt has now reached more than two thirds of our Gross Domestic Product for the first time since the end of World War II. It will soon reach one hundred percent of GDP if our congressional leaders fail to curtail our current spending practices where forty cents of every dollar spent is borrowed money.

The number of United States taxpayers that actually pay income taxes now stands at forty nine percent. For the first time in the modern era less than half of American tax payers are contributing to income tax revenue, according to the Joint Committee on Taxation.

The recent downgrade of the quality of United States sovereign debt by Standard and Poor’s was the first lowering of that rating in the history of our nation.

The part of the United States workforce that is actively employed is the lowest since 1983. Only about fifty eight percent of the eligible workforce is currently employed, according the United States Bureau of Labor Statistics.

Home ownership in the United States has plummeted to less than sixty percent. That is the lowest percentage of home owners since 1965, according to the United States Census.

And the most damning record achieved by the current administration is the number of persons depending on their government for sustenance. Forty seven percent of those who live in the United States are receiving one or more federal benefit payments. That astounding dependency record is the highest in American history.

The administration has enacted myriad policies and invested trillions of dollars into the economy. The failed policies include $825 million in stimulus spending, cash for clunkers and the multibillion dollar bailouts of General Motors and Chrysler.

The impending economic effects of the Patient Protection and Affordable Care Act will soon be visited upon us. ObamaCare will result in government takeover of nearly one third of our national economy, virtually eliminate medical choice, enforce myriad new rules and regulations, and levy multiple new taxes to further throttle our national economy.

President Obama’s recent speech before Congress appears to guarantee more of the same. He promises to spend another $450 billion of mostly borrowed money on programs that are largely destined to fail or that have already failed. This massive cash infusion is to be paid for by as yet unidentified future spending reductions and increased taxes on the rich.

The President appears to believe that government is the solution to every problem. I believe that government is usually the cause of the problem.


We are in trouble!
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