One Tuesday, President Obama was interviewed by ABC’s Jake Tapper. Tapper has been the only journalist in the White House Press Corp who has been willing to ask tough questions and his relationship with Press Secretary Jay Carney has been contentious at best. The White House has been curt not only with Tapper but any journalist who dares confront the administration about an ever growing list of scandals and failed policy decisions which is why the President’s decision to sit down with Tapper was so surprising. During the interview they discussed a variety of topics ranging from the economy and the election to the Fast and Furious scandal to the President’s faltering Jobs Bill.
The most remarkable statement that President Obama made was in response to next year’s Presidential election, he said “I guarantee it’s going to be a close election because the economy is not where it wants to be. The President finished the thought with this shocking revelation “I believe all the choices we’ve made have been the right ones.”
As the interview progressed, the President continued with his three-year strategy of passing the buck and blaming the previous Administration for the economy. It’s highly unlikely that President Obama will ever look in the mirror and realize he is at the epicenter of America’s economic woes. During the interview he told Tapper that the American people don’t think I caused the problem. To be sure, the economy was already headed south prior to Obama taking office, however, his economic policies have definitely exacerbated America’s economic woes. For the first time during his Presidency, the majority of Americans now believe Obama is the cause of our economic troubles according to a recent Gallup Poll.
President Obama also continues to blame the Republican Party for his inability to pass legislation, telling Tapper “I say that we got too little of the kind of “let’s work together” attitude in Washington that we need.” The truth of the matter is that the GOP has only had a majority in the House for 10 months and the Democrat Party still enjoys a majority in the Senate. For the first two years of his Presidency, Obama enjoyed significant majorities in both houses of Congress. The reason President Obama cannot pass his agenda is that it’s divisive, radical, and out of touch with mainstream America.
President Obama cited the debt ceiling debacle as an example of the Republicans not wanting to work together and play nice. The President said “everybody knows that we are going to have to get our deficit under control, but we have to do it in a way that allows us still to invest.” No one is questioning whether America needs to invest in her future, but we have every right to question the manner in which our money is invested. After all, you have wasted untold billions on failed green companies yet you continue to pursue this fantasy of a “green economy” when it has been proven to be a losing proposition.
A better and more pragmatic decision would be to fully develop the Bakken Fields in the Dakotas which contain larger reserves than Saudi Arabia. If you want to double-down, you could open up the ANWR Reserves in Alaska until a viable form of alternative energy actually exists. This policy really would end our dependence on foreign oil. Imagine how popular a president would be if gasoline prices fell back into the one-dollar range and electricity bills were cut in half.
The President also continues to tout tax increases as the other magic pill that will somehow return America to economic greatness. As if leaving people with less money will somehow stimulate the economy. President Obama refers to his policy of reckless spending and higher taxes as a “balanced approach” to economics. I think we can call your grand Keynesian experiment that included more than $5 trillion in spending while simultaneously having the highest corporate tax rate in the world as unsuccessful.
The other myth that the President is fond of promulgating is that the rich don’t pay their fair share of the tax burden. First and foremost, only 53 percent of Americans pay any Federal taxes which means 47 percent get off Scot-free so someone is picking up the tab for almost half of America.
President Obama is fond of talking about millionaires and billionaires bilking the system but his tax plan calls for raising taxes on anyone making over $200,000 per year. There’s a great deal of disparity between someone earning $200,000 per year and a million dollars per year. Someone on the bottom end of the President’s scale already pays $70,000 per year in Federal taxes but under Obama’s proposal, this same person would pay $103,000 per year in taxes or a staggering 53 percent of their income and that is before paying Social Security, State, and local taxes. If Obama has his way, this person could see three-quarters of their income going to pay taxes. What would you call this?
Furthermore, many of the people in this income range are small business owners who are already at a competitive disadvantage on the world market. Small business owners employ half the workers in America and are responsible for over 65 percent of job growth according to the Small Business Administration (SBA). Raising taxes on this critical segment of the population to more than 50 percent would be the final death knell for American entrepreneurs.