President Obama addressed a joint session of the Congress and announced his “American Jobs Act” in a nationally televised speech. The much-anticipated speech offered nothing new for America. It was more of the same old, tired rhetoric that Obama has uttered for the past two years. It is simply the Son of Stimulus with the same theme of taxing the wealthy, eliminating corporate tax loop-holes, building more bridges, and providing jobs for the unions of America. Once again, Obama showed himself to be a panicky, desperate man with only a sense of urgency about his own re-election prospects!
And, Obama agreed with Rick Perry (possibly his opponent next year) that Social Security as it is today is not sustainable. Obama basically admitted that the current Social Security system is the “ponzi” scheme that Perry called it. Obama said the existing system would not work…..same message, different words! Obama even acknowledged that Medicare needs reform as well. Funny….when Republican Paul Ryan floated the same ideas earlier this year, he was roundly criticised by the Democrats! Remember, Grannie being thrown off the cliff! More proof that the Democrats have been asleep at the switch when it comes to fiscal responsibility.
Finally, the stock market has demonstrated its disdain for the speech with a big down day! The stage has been set for a continuation of the partisan bickering in Washington as Obama kicks his re-election campaign into high gear!
2012 – The End of an Error!