I’m very concerned about hitting the debt ceiling and I thought I’d write a post about that and how a significant boost to the ceiling could help the commodities market at the cost of the rest of the economy and how major budget cuts could do the opposite…but then I realized that was about my whole post so I went with the rant below.
According to the most recent Gallup poll, 44% of Americans still approve of Barack Obama. I don’t intent this post to persuade, actually quite the opposite. Whenever criticism of President Obama is made, the defense seems to be some variation of “Give him time,” “He stepped into this mess,” or “It’d be even worse if he had he not done X.”
I’ve written my 5 top-of-mind issues with Obama. Its my hope that I’ll get some comments explaining why my concerns are poppycock. So you 44% of Americans that keep telling the fine men and women of Gallup that you approve of Obama, please leave your thoughts in the comments below.
- More debt and spending than ever before. We now approach a debt ceiling and possible credit rating downgrade. The dollar remains the world’s currency which is holding us safe from hyperinflation for the time being, but I’m not sure we can continue to plunge ourselves into debt forever and continue to hold that honor (Obama is on pace to accumulate more debt than all 43 prior Presidents). This is my biggest knock on Obama. I don’t think he understands basic economic principles, or if so he ignores them.
- This is another big one for me. Obama is the most anti-Israel President in the history of the two countries. I’m not the only one who thinks so. I wrote a blog post a while back after Obama stated that Israel should give land away (a silly suggestion for both national defense and demographic reasons). I don’t think abandoning our allies is an acceptable foreign policy.
- Steve Wynn of Wynn Resorts, a Harry Reid supporter and Democrat, explained that major investors are scared to invest aggressively (which would fuel the economy and produce jobs) because of Obama’s vocal intentions to make the rich “pay their fair share.” While I give Obama major credit for extending the Bush tax cuts, but his rhetoric is hurting business. I don’t say this because of Steve Wynn’s comments, but they lend credence to the argument. You can read his comments here.
- Obamacare…this is an interesting one. I actually don’t mind the concept of mandatory health insurance, but based on the increases in spending I see this as just another way to increase the size of government and the shackles it puts on business tie into my previous complaint.
- Obama has given as much money to unions as he can hide in bills and sneak into their coffers. Unions are bad for business and his underhanded purchasing of votes seems wrong to me. I also think it’s wrong to bus union members to polls.
I’m actually genuinely interested in what you have to say, and you’ve got a lot of explaining to do.