Barack Obama’s Vanishing Economic Recovery!

By: Richard H. Frank

This morning, June 9, 2011 marked the 9th consecutive week where new first time claims for unemployment exceeded 400,000. This fact is in spite of the President claiming that the economy is in recovery and his policies are responsible for the creation of between 2.5 and 3.0 million new jobs. I may not have a Harvard education but am better than the average bear when it comes to arithmetic. If we have had 400,000 new claims per week for the last nine consecutive weeks that equates to 3.6 million Americans that have lost their jobs. The last time I looked 3.6 is larger than 2.5 and 3.0 which means we have gone backwards in job creation under the policies of Obamanomics.

According to the President we should not be concerned as this is just a “blip” that is probably due to seasonal adjustments that will disappear over the coming weeks. He is certain we are not entering a double dip recession and that this small anomaly is only temporary in nature. Temporary for Obama means three or four years based on his prediction that unemployment would not exceed 8% if we adopted his irresponsible stimulus spending program with shovel ready projects geared to produce 500,000 new jobs per month according to Joe Biden.

Just how long will it be before the mainstream media begins to report the truth about the failed policies of this Administration? Energy costs continue to skyrocket, home real estate values deteriorate with each passing month and the misery index resulting from creeping inflation are devastating for senior citizens and low-income families.

In the meantime Congress sits on its hands and refuses to do the bidding of the electorate. I am not sure this nation can recover from the damage done by the Obama Administration during four years pursuing  his socialist agenda. Earlier this week the President said he wakes each morning and his first thoughts are how to create jobs and spur economic growth for America. Apparently those thoughts are fleeting as he then decides where he will travel  for the 2012 election and when his next tee time is scheduled to take place.

The Obama summer of recovery of 2010 vanished before it began and all signs for 2011 point to further deterioration. Now is the time for change we can truly believe in and not the change Barack Obama has imposed upon this once proud nation.  I anticipate summer will be spent by many people in this country growing their own fruit and vegetables and not putting those expensive beef steaks and hamburgers on the grill!

Political Waterloo!

by Richard H. Frank

Every politician that aspires to the Presidency of the United States of America needs to recognize the need for establishing a concise, cohesive policy to achieve energy independence within the next decade.  Concise and cohesive means achievable and not the “pie in the sky” green initiatives championed by the Obama Administration.  President Obama’s prediction is that 85% of energy generated by 2035 would be produced using green technology.  Today,  lacking a massive breakthrough, green technology is incapable of meeting such an aggressive targeted projection.

Over the past four decades Government under control of administrations from both political parties, has done nothing to create a plan for energy independence let alone maintain the status quo relative to supply. Government has, in the name of protecting the planet, mortgaged the income off every American to support Middle East oil.  Our dependence  on foreign oil has risen from 40% in the early 1970s to over 60% today.  Each time we pump gasoline for our personal use we must recognize that our dollars are being sent abroad and not utilized to stimulate our economy in America.

The untapped natural domestic resources in the U.S. are sufficient to power our economy for more than 100 years.

Instead of stimulating exploration and development of our existing recourses to meet the energy needs of American, our Government has spent over $820 billion to create or save jobs through unregulated stimulus programs.  According to the CBO, each job saved or created cost us, the taxpayer, $228,000.

So now, with chaos in the Middle East, we see oil prices per barrel skyrocketing.  Forty-five years since our last refinery was built and fifteen years since the last nuclear power generating plant was commissioned.  This represents the dismal record of our Government in the U.S.

Like it or not, oil is the life blood that has nourished and sustained our way of life in America.  Should Government continue to stand in the way of offshore drilling, shale oil extraction, clean coal technology and expansion of nuclear power generation, we will be relegated to Third World Nation status.

“Drill Here, Drill Now” and  “all of the above” with regard to efficient productive expansion of our natural energy resources must be the basis of our energy policy.

It is not just the cost per gallon of gasoline that we need to be aware of, but every product that is derived from fossil fuels.  Food, clothing, chemicals, plastics and synthetics used in our daily lives will skyrocket.  When we can no longer afford to fill our automobiles with gasoline, heat our houses and afford food for our families we may get the message.

Energy is destined to be the Waterloo for any political movement that does not wake up and step forward with a plan to achieve energy independence.

What will it take for America to wake up?  $5, $6 or $10/gallon  gasoline and increasing electric costs per Kwh to cause us to make a choice between lighting in our homes or putting food on our tables?