All content, of both the original and this blog, is written from my point of view and is my opinion. I believe it to be accurate at the time it is written. ~ Kyle Prast, Brookfield resident since 1986

Saturday, September 15, 2012

"Are you better off than you were 4 years ago?"

Last September, I had the privilege of visiting the Reagan Library in California. At the time I snapped this picture, I answered his question with a resounding, NO. Little did I know how much worse off our country and the world would be in the span of just one year.

Most think of this question in terms of the economy. After all, Reagan was running against President Jimmy Carter. But there was also the Iran hostage crisis hanging over our country like a national pall. So Foreign Policy was also a concern.

If we go back to 2008, our country would be about $10.6 trillion in debt, instead of the $16+ trillion we're at now. Obama increased it by 50% in less than 4 years! That works out to $111,414 per taxpayer and counting. And Obama was the one, who in Feb. 2009, pledged he would cut the deficit in half by the end of his first term!

As Obama inferred in his 2009 pledge, the interest on the debt would increasingly become unmanageable. How unmanageable? Take a look at this: Brother, Can You Spare a Trillion? 

To make matters worse, Fed Chairman Ben Bernanke embarked on QE3 to stimulate Obama's flagging economy, at the rate of $40 billion a month, for the election. (QE3 is the 3rd round of quantitative easing: a fancy term for pumping up the money supply or buying our own debt) This bit of insanity earned us another downgrade to our already downgraded credit rating from AA to AA-.

There are so many other aspects of this question to consider besides the economy. There is the disdain and disregard of our Constitution by our president, the bypassing congress by executive order, the loss of liberties, etc. And then, like the Carter years, the weak, apologetic tone of our foreign policy.

So what do you say to Ronald Reagan's question? And what are you going to do about it on November 6th?
More Reading:
Morning Bell: National Debt Hits $16 Trillion
Fed Pulls Trigger, to Buy Mortgages
Egan-Jones analyst Hints at US Rating Downgrade Post QE3

US Credit Rating Cut by Egan-Jones ...Again

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