President Obama will stop at nothing to win four more years in the White House – including cracking this fragile egg shell of a recovery and sending the U.S. into recession. With every sign that the economy is slowing, our Campaigner in Chief is creating even more anxiety by taking an unwavering stand — he will not, he affirms proudly, extend current tax rates on all Americans. Instead, he demands the wealthy pay more. That’s it. That’s his grand plan for getting the country moving again. A more harmful and negative campaign has surely never been waged.
Nearly every day there are new signs that the country may topple into recession. Today we read that retail sales fell 0.5 percent in June – the third consecutive monthly downturn. That hasn’t occurred since the fall of 2008, when the country was paralyzed with fear over the financial crisis. Think of that; consumers are reacting today just as they did when it looked like the world was coming to an end. That says volumes – about the tone set by the White House, the confidence this president has inspired in our citizenry, and about his inability to lead the country forward.
President Obama is playing with fire – fire that can consume our economy and our well being. We are not going to be bailed out by China, or the other countries that have acted as stimulants over the past few years. The OECD recently reported that leading indicators worldwide point to “an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies.” That includes China, where in the second quarter GDP growth was 7.6 percent which compares to 9.6 percent a year earlier and 8.1 percent in the first three months of the year.