Charles Gasparino notices what a lot of of have been saying all along: Barack Obama’s policies are killing whatever chance the economy has for any real recovery:
If the president wasn’t so busy looking to score cheap political points when he met with the heads of the big banks last month, he’d have listened to their warnings on this very issue. At one point, JP Morgan CEO Jamie Dimon politely interrupted Obama’s monologue on how the banks should be lending more to small businesses to explain that many businesses simply don’t want to borrow to expand their operations and hire more workers.
“Jamie basically said the demand for loans is way down because businesses, particularly those that are making money and can qualify for loans, simply don’t want to borrow,” said one person with direct knowledge of the conversation.
And they’re not borrowing because they don’t know just how high their tax bills will be when the president gets done implementing all his “hope” and “change.”
What they do know is that taxes are going up and up and up. Small businesses will be hit with massive increases in the per employee cost of health care. Those hikes will be passed along to you and me in the form of higher and higher prices for everything.
There is no free lunch. Every dollar of health care costs will eventually hit us all collectively. As will every dollar of every other grand program Obama manages to get passed into law.
There is no free lunch, folks. Our economy is already crippled by debt and the Wizard of O and his greedy gang of munchkins keep spending. They are spending us into economic stagnation, persistent high unemployment and eventual economic ruin.
In fact, once the national debt hits 90% of GDP, the odds are that our economy will get hammered. Don’t believe me? Maybe some guy at Harvard can convince you. (Actually, it is Kenneth S. Rogoff of Harvard and Carmen M. Reinhart of the University of Maryland who analyzed 200 years of economic data to reach their conclusions. Basically, crossing the 90% debt threshold cuts real growth by a lot – every time.)
Di you really hope for chains?
No, I voted for the lady from Alaska.
I voted for stability, opportunity, and growth.