Jay Cost takes a look behind the headline data and notes that the “recovery” we’ve had under Obama is (a) weaker than any other recovery and (b) really only the result of government borrowing, printing and spending. It is a devastating critique of the reality Americans live under – and why Obama’s approval on the economy is cratering even while the MSM trumpets the recovery.
It is, as Cost puts it, a “food stamp recovery”. Our incomes aren’t growing – the alleged growth of such is the result of transfer payments. But how are those payments financed? By borrowing and printing…in other words, we’re putting ourselves further in debt and devaluing our currency in order to eke out a bit of welfare for ourselves. To put it bluntly, we’re stealing from both our back pocket and our children’s piggy bank in order to buy groceries.
When you add in the fact that the real fat cats out there – the super-rich the Democrats never tax in their “tax the rich” schemes – have made out like bandits thanks to Obama policies you get a political mix which could be devastating to the President. Cost, in his piece, boldly asserts that unless there is a rapid and vigorous increase in per-capita, real income, Obama is doomed in 2012 (with the proviso that the GOP nominate an acceptable alternative). That takes a bit of guts, but the plain fact of the matter is that things had better improve or Obama is going to have all sorts of trouble.
Our liberals are still convinced that all is well – but that could be because our liberals are concentrated in areas which have been least affected by the recession. Government work, education, financial services, etc; all have been only lightly hit by the trouble…and if you’re doing well it is an easy assumption that everyone else is, too. Meanwhile, for those of us out in the real economy, things really suck. Cost in his article says he knows 10 people on food stamps – I only know three, but I also know two or three who have filed bankruptcy and another two or three who are still jumping through the bankster hoops on modifying their home loan (which, as far as I can see, is just prep work for filing bankruptcy). I’m going to start doing Feeding God’s Children with the Knights of Columbus and from what I understand what was once a nice, little food distribution has become a major event…on Holy Saturday I spent a couple hours delivering food to impoverished elderly people, and they were so grateful…with food prices rising, the SS check/welfare check just isn’t doing the job.
People are hurting. No, not the political class. No, not the banksters. No, not the well-connected. But the people – those who do the work of America. And if Obama’s Food Stamp Recovery doesn’t become something better, then we could have a political revolution in 2012.
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