When President Obama and the Democratic led House and Senate pushed through an $800 billion Stimulus bill in 2009, the promise was made that it would bring unemployment down to 8%. The Democrats were wrong. What the Stimulus bill did was save some public employment jobs, because the states used the money to keep from having to lay public workers off, as well as spark up "shovel ready" public works projects all over America.
What President Obama and Democrats fail to realize is that it is the PRIVATE sector that is the key to hiring, not the Federal Government. Since taking office in January 2009, the Obama Adminstration has passed along regulation after regulation onto private sector businesses. These new costs have made small businesses and corporations uneasy about expanding and hiring people.
Las Vegas mogul Steven Wynn, a highly successful entrepreneur, came out and said publicly that the Obama Administration is the biggest wet blanket when it comes to business he's ever seen. That is really a strong indictment of the lack of success President Obama and the Democrats have had in reviving the economy.
Former Speaker of the House Newt Gingrich called President Obama a "food stamp President". Newt is right. Despite his repeated failures on economic issues, don't expect President Obama to change course, the way President Clinton did when faced with a Republican House and Senate. President Obama is a true believer in wealth redistribution, high government spending, and high taxes. It is a system that has failed in Europe and is now failing here.
Considering that Standard and Poors downgraded the US credit rating, due to the crushing debt and budget deficit you would think the Democrats would think twice about spending more. Their answer? Demonize Standard and Poors for their decision, raise taxes to provide more revenue and keep spending on programs that don't work.
November 6th, 2012 cannot come soon enough.