My fellow Americans:
I must say, it was fascinating to tune in Tuesday night and watch you decide to commit financial suicide. It was even more fascinating to watch those of you at the Obama rally in Chicago cheering so wildly. I can’t help but wonder what exactly you were cheering for.
HE TOOK THE NATION ANOTHER SIX TRILLION DOLLARS DEEPER INTO DEBT! WOOO-HOOOO! WE NEED MORE OF THAT!
HE RAMMED THROUGH A HEALTH-CARE LAW THAT WILL DISCOURAGE BUSINESSES FROM HIRING NEW EMPLOYEES! YESSSS!! THAT’S HOW YOU FIX A STRUGGLING ECONOMY!
HE GAVE BILLIONS OF TAXPAYER DOLLARS TO COMPANIES THAT WENT BANKRUPT! LET’S HEAR IT FOR GOVERNMENT CREATING JOBS!!
And of course many of you were just happy to have a president who gives you so much free stuff, like this economic genius so typical of Obama’s supporters:
So there you have the key to Obama’s success. The 47% (and growing) share of Americans who pay no income taxes and feel entitled to live off those of us who do formed a winning coalition with millions of young economic illiterates who gave answers like these to a reporter:
“Are you concerned about the national debt?”
“Uh … like, I kinda thought the U.S. lends money to all the other countries, so I don’t think we probably have a national debt.”
“Do you worry at all about the national debt?”
“Do you have any idea how large the national debt is?”
“No, but I’ve heard it’s pretty big.”
“Well, how large do you think the national debt is?”
“I bet it’s at least 200 billion dollars.”
Yes, yes, I know … many of you in the crucial swing state of Ohio fell for that line about Obama “saving” the auto industry. You swallowed that crock of @#$% because (to be frank) you don’t understand diddly about economics. Obama didn’t save the auto industry. He bailed out an inefficient automobile company that should have been allowed to fail. Unless Americans decided to buy fewer cars just because GM was no longer making them, the auto industry would have been just fine. With GM gone, car buyers would have taken their business to Ford or Toyota or Honda (Toyota and Honda produce their cars in the U.S.), who would have ended up hiring more workers to meet the extra demand. Employment would have simply shifted to producers who didn’t need government bailouts to stay alive.
I’ve got to give the Democrats credit for their long-term strategy. They’ve managed to turn such a large share of the voting population into government dependents, a Republican presidential candidate has to nearly run the table among the non-dependents to win. The “give me free stuff!” crowd will continue growing and imposing itself on the rest of us until the party ends — which it will, and very, very badly at that.
Now that Obama (who saved the auto industry!) has been given another four years to wrack up trillion-dollar deficits, the Federal Reserve will keep pumping out trillions of phony new dollars to cover the debts, inflation will necessarily spiral upward, prices will rise as the purchasing power of a dollar necessarily falls … and you, my economically illiterate fellow citizens, will blame greedy businesses for raising prices.
Now that ObamaCare doesn’t stand a chance of being rolled back, insurers will be forced to cover routine, expected, and non-threatening conditions (such as a lack of birth control pills), premiums will necessarily rise as insurers pass the cost of those routine, expected and non-threatening conditions on to policyholders … and you, my economically illiterate fellow citizens, will blame greedy insurers for raising premiums.
Now that Obama has been re-elected, the Bush tax rates will expire, the people who actually create jobs will have more of their capital confiscated to be spent on “green” companies that are about to go bankrupt and other brilliant “stimulus” plans, so they’ll end up hiring fewer people … and you, my economically illiterate fellow citizens, will blame greedy businessmen for not hiring more people and raising wages.
I could go on, but you get the idea. You’re about to get exactly what you demanded at the polls: runaway inflation, higher prices on damned near everything, higher insurance premiums, fewer new businesses, fewer jobs, and a national debt that will crush your children and grandchildren.
Enjoy the consequences of your decision. And a decade or so from now when the U.S. has turned into the next Greece, citizens are rioting in the streets because our dead-broke government can no longer send them checks backed by money borrowed from China, and the Treasury is begging the IMF for a bailout, remember: You asked for it – you @#$%ing morons.