President Barack Obama strutted in front of Congress and the nation last night to give his State of the Union address. This time his undeniable oratorical skills simply could not save him from the facts that have become clear in his first full year in office. Facts that now have his speeches sounding more and more like skips on a broken record.
Let's start by taking a look at what his programs have actually done over the past year, and see what he said last night. Directly because of the programs and initiatives launched by the Obama administration, our unemployment rate has soared past the 10% mark for the first time in decades and our national debt has been set on course to triple over the next decade.
But what is Obama suggesting that we do as we move into his vision of the future? Spend more, go further into debt, reward cronyism and failed industries. Barack Obama and the Democrats in Congress wish to throw massive amounts of good money after excessive and irresponsible amounts of bad.
The President proposed in his speech last night to "take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat."
So we taxpayers, who did not want to do it in the first place, loaned money to banks. It was repaid, but now we lend that same money back out to banks? So what exactly is going to have been "repaid"?
Why again did I lend money to banks in the first place? Do you know why? To save the financial system from collapse? Really?
Why do we taxpayers need to prop up any business that cannot succeed on the strength of it's own hard work, value, worth, and entrepreneurial skills? Businesses large and small have gone under for centuries. Why do we have to save some now with taxpayer dollars?
