Obama after Year One
I have a meeting tonight which will make me miss the Obama State of the Union speech. This hour of my evening is going to be spent in a more productive fashion than listening to another “Yes We Can” baloney sandwich. It is reported that Obama plans to pledge tax credits to stimulate jobs in small business. Apparently he or one of his Chicago gang has been reading Buck Says. Faithful readers know that this has been a suggestion I have repeated many times along with companion suggestions needed to make the tax credits work.
Obama, will likely gloss over his failures to deliver on his promises of a year ago. The nearly $800 billion stimulus package was sold on the promise that unemployment would be held to 8% as a result of this package. Unemployment is at 10% and 43 states saw unemployment rise last month. This fact and his failure to deliver must be kept in mind when his soaring rhetoric makes new promises tonight.
Months ago Buck Says pointed out that new home construction has led us out of every recession in the last 50 years. Government encouraged the sub prime mortgages that led us to the current recession and until housing construction is revived there will be no significant improvement in the economy.
Lat month new home sales declined by another 7% and sales of existing homes sagged by 17%. These two elements of housing are tied together with existing home sales as a bellwether of the housing industry and it is not encouraging. The average person needs to sell an existing house if a new one is to be purchased. The 17% decline of existing home sales is a real indicator of where new home construction is heading.
After his Presidency ends Obama might be in demand by toy manufacturers because of his demonstrated ability to spin things. Spinning Yoyos and Tops provides endless hours of enjoyment for small children, but spinning the results of failed programs is another story. The spin of Obama’s administration can no longer cover the absolute incompetence being demonstrated on an almost daily basis.
The President's Speeches
A new and improved spin will be heard tonight. Count on it. The “Yes We Can” chant will soon become “No You Can’t” as America becomes fully awake to the duplicity of this President and his minions.
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