Liberalism, in which unproductive and bloated bureaucracies (known for having 3 people doing one job) are funded by the productive working class, has made huge strides in the Obama years towards impoverishing and bankrupting the United States at all levels – Federal, State, and Local.
Meanwhile in the public sector, a separate pension-related report by the national State Budget Crisis Task Force warned that public pension funds in the U.S. are underfunded by $1 trillion to $3 trillion, depending on who’s making the estimate.
California pensions, collectively, currently face a $136-billion unfunded liability, the report said, citing data from the National Assn. of State Retirement Administrators. The group, chaired by former Federal Reserve Bank Chairman Paul Volcker and former New York Lt. Gov. Richard Ravitch, looked at a variety of pressures, including pensions, on the governments of six large states — California, Illinois, New Jersey, New York, Texas and Virginia. <source>
At the same time, the economy remains in serious trouble, with the Federal Reserve out of ammunition and a fiscal nightmare coming post-election (higher taxes):
The growth rate of the gross domestic product fell to 1.9 percent in the first quarter, down sharply from 3.0 percent in the fourth quarter of 2011. Preliminary data for the second quarter suggests that growth was quite weak, and that the sluggishness could deepen in the months ahead.
In June, the Bureau of Labor Statistics reported, United States employers created only 80,000 jobs, far fewer than needed just to keep up with population growth. It was the third consecutive month of significantly subpar jobs numbers.
Lakshman Achuthan, chief operations officer of the Economic Cycle Research Institute, an independent research firm, has been predicting a recession since September, and says that the recent spate of weak data “unfortunately supports our view, which is that a recession has, quite likely, already begun.” <source>
As we know, Barack Obama is directly responsible for this continuation of economic disaster given his destructive focus on health care in 2008 – 2010 instead of the economy. Why would he prolong the recession and weaken America further? For several reasons, including his hatred of the United States and also his desire to use the crisis as a lever to push our country firmly and irreversibly down the road to Socialism, patronage, and poverty-induced dependence on the iron fist of government.
Right on cue, he is campaigning hard against the “wealthy” in society, using continued economic suffering among millions of people as the fuel for his message of resentment and class warfare. He knows that human nature is prone to resentment, particularly when the cupboard has run dry and society turns into a zero-sum game of thievery over scraps and the occasional “gift” from the regime that will be repaid in sweat and blood.
His master plan is in full swing, and Mitt Romney must use strong language, as he started to yesterday, to shine a spotlight on it.
“President Obama attacks success. And, therefore, under President Obama, we have less success,” Romney said. “I will change that.”
Addressing the crowd in a more passionate tone than he has exhibited on the campaign trail in months, Romney called Obama’s comments “startling and revealing” and said he found it “extraordinary that a philosophy of that nature would be spoken by the president of the United States.”
Linking back to an argument he made early in his campaign but has not repeated in recent months, Romney argued that Obama’s comments were proof that that the upcoming election is about the country’s “soul.”
“This campaign is to a great degree about the soul of America,” Romney said. “Do we believe in an America that is great because of government or do we believe in an America that is great because of free people allowed to pursue their dream and build their future?” <source>
More, Mitt, more. The truth is on your side, and strong language will win you the White House.