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Zakaria: The real burden on the U.S. economy – Global Public …

globalpublicsquare.blogs.cnn.com12/11/11

By Fareed Zakaria, CNN President Obama gave an important speech in Kansas last week. Whether you agree with all of it or not, he has begun a national conversation about the economy and the role of government.

Global Economic Crisis: The U.S. An Insolvent and Ungovernable …

www.marketoracle.co.uk12/18/11

Global Economic Crisis: The U.S. An Insolvent and Ungovernable Country :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.

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Do you now how bad the US economy really is?

If you answered, "Yes" then read on because it’s almost certainly far worse than you thought.

And if you answered, "No" or "Maybe" then sit down before you read on!

The following data along with links appeared on a blog entitled The Economic Collapse and for those unfamiliar with the site, TEC (The Economic Collapse) is a blog that regularly compiles a comprehensive list of the most startling and unsettling facts about the U.S. economy.

Why Does TEC Do It?

A blurb on the site says:

“If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them. Just ‘tweaking’ things here and there is not going to fix this economy".

“America is consuming far more wealth than it is producing and our debt is absolutely exploding. If we stay on this current path, an economic collapse is inevitable. Hopefully the crazy economic numbers from 2011 that I have included in this article will be shocking enough to wake some people up"

“If we all work together, hopefully we can get millions of people to wake up and realize that ‘business as usual’ will result in a national economic apocalypse".

So Without More Ado – Here Are The Fifty Figures

1. A staggering 48% of all Americans are either considered to be “low income” or are living in poverty.

2. Approximately 57% of all children in the United States are living in homes that are either considered to be “low income” or impoverished.

3. If the number of Americans that “wanted jobs” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to 11%.

4. The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.

5. One recent survey found that 77% of all U.S. small businesses do not plan to hire any more workers.

6. There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

7. Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

8. According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006. Today, that number has shrunk to 14.5 million.

9. A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

10. According to author Paul Osterman, about 20% of all U.S. adults are currently working jobs that pay poverty-level wages.

11. Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.

12. Back in 1969, 95% of all men between the ages of 25 and 54 had a job. In July, only 81.2% of men in that age group had a job.

13. One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

14. The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1% in the 3rd quarter of 2011 alone.

15. According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154%.

16. As the economy has slowed down, so has the number of marriages. According to a Pew Research Center analysis, only 51% of all Americans that are at least 18 years old are currently married. Back in 1960, 72% of all U.S. adults were married.

17. The U.S. Postal Service has lost more than 5 billion dollars over the past year.

18. In Stockton, California home prices have declined 64% from where they were at when the housing market peaked.

19. Nevada has had the highest foreclosure rate in the nation for 59 months in a row.

20. If you can believe it, the median price of a home in Detroit is now just $6000.

21. According to the U.S. Census Bureau, 18% of all homes in the state of Florida are sitting vacant. That figure is 63% larger than it was just ten years ago.

22. New home construction in the United States is on pace to set a brand new all-time record low in 2011.

23. 19% of all American men between the ages of 25 and 34 are now living with their parents.

24. Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

25. According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.

26. One study found that approximately 41% of all working age Americans either have medical bill problems or are currently paying off medical debt.

27. If you can believe it, one out of every seven Americans has at least 10 credit cards.

28. The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

29. It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.

30. The retirement crisis in the United States just continues to get worse. According to the Employee Benefit Research Institute, 46% of all American workers have less than $10,000 saved for retirement, and 29% of all American workers have less than $1,000 saved for retirement.

31. Today, one out of every six elderly Americans lives below the federal poverty line.

32. According to a study that was just released, CEO pay at America’s biggest companies rose by 36.5% in just one recent 12 month period.

33. Today, the “too big to fail” banks are larger than ever.  The total assets of the six largest U.S. banks increased by 39% between September 30, 2006 and September 30, 2011.

34. The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30% of all Americans combined.

35. According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

36. If you can believe it, 37% of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

37. A higher%age of Americans is living in extreme poverty (6.7%) than has ever been measured before.

38. Child homelessness in the United States is now 33% higher than it was back in 2007.

39. Since 2007, the number of children living in poverty in the state of California has increased by 30%.

40. Sadly, child poverty is absolutely exploding all over America.  According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.

41. Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

42. In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for more than 18% of all income.

43. A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30%.

44. Right now, spending by the federal government accounts for about 24% of GDP. Back in 2001, it accounted for just 18%.

45. For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars. That was the third year in a row that our budget deficit has topped one trillion dollars.

46. If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

47. Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.

48. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

49. The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.

50. During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

So Who’s To Blame?

Take A Look At The Federal Reserve

Since its inception, the Federal Reserve has been a perpetual debt machine that has almost single-handedly destroyed the value of the U.S. dollar!

The Solution

From The TEC website:

"One of the most important steps that we could take to bring prosperity back to America would be to nationalize the Federal Reserve.  Doing so would allow the federal government to quit borrowing money, dramatically reduce taxes and eventually pay off the entire U.S. national debt. 

Instead of inheriting the largest debt in the history of the world, future generations would actually have a chance at economic prosperity because they would not be forced to pay off the horrific debt of previous generations. 

There are no good reasons to keep the status quo.  Our current debt-based monetary system will inevitably lead to a complete and total economic collapse.  We desperately need to make a change while we still can.  As you will see below, there are a ton of good reasons why we should nationalize the Federal Reserve.

Right now, most Americans believe that the Federal Reserve is actually an agency of the federal government.  But that is simply not the case. 

The truth is that the Federal Reserve is about as "federal" as Federal Express is, and the Federal Reserve openly admits as much. 

For example, in defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated in court that it was "not an agency" of the U.S. government and therefore not subject to the Freedom of Information Act".

So Who Owns The Federal Reserve?

According to the Federal Reserve’s own website, it is the member banks that own it.

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations–possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

Will Obama Nationalize The Federal Reserve?

No chance!

So Who Might Do It?

Well Obama’s replacement might, but even that’s not for sure because we don’t know who it will be; or if it will be.

But we do know however that the 2012 election will be one of the most important in US history.

So if you care about the US then make sure you vote, and be sure to vote Republican because with a Republican in the White House there’s a chance of positive change, but with Obama there’s none!

And if you want to know what the interest on Amreica’s debt is doing to our economy then checkout:

Forget The Deficit! How Big Is The Interest On Our Debt?

Daily Kos: What I said to Joe Biden and the Obama re-election …

www.dailykos.com11/19/11

In the past two days I have received emails from Joe Biden and Jim Messina of the Obama re-election committee asking me to contribute and become active in the re-election effort. I support President Obama (in 2008 and will …

Mitt Romney: Nuclear Iran Would Be Consequence Of Obama Re …

www.huffingtonpost.com11/13/11

Mitt Romney: Nuclear Iran Would Be Consequence Of Obama Re-Election. Romney Obama. KASIE HUNT 11/12/11 11:54 PM ET Associated Press AP. React. Important Funny Typical Scary Outrageous Amazing Innovative Finally. Follow …

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More Than 80 Reasons to Elect a New President Worthy of a Great Nation: Not the Abomination of an Obama Nation

With very rare exceptions, everything on this site was written by me; but this one was too good not to promote.

Courtesy of www.rabbidov.com

(Based on an Idea and Initiative, and Built off a List, Launched by KRLA Radio Talk Show Host and Constitutional Law Professor Hugh Hewitt)

 

1. Obamacare – Attempting to federalize local state rights, extending federal control over massive components of the national bourse, extending federal control over individuals’ lives in violation of the Constitution’s Commerce Clause.  Cynically lining up supporters in white doctors’ robes, while refusing to consult with much more prominent and predominant medical groups who oppose. Lying about the program’s cost and tax burden by subterfuging it with exorbitant taxes that begin several years into its anticipated roll-out.  Robbing $500 billion from Medicare that will destroy access for seniors, while lying about the Ryan proposal that would not affect people over 55.

2. The catastrophic $850 billion stimulus.  $700,000 to develop a robot that tells jokes.  $3.4 million for an underground tunnel for turtles to cross the road in Florida. $1 million to help smokers kick the habit by giving them Blackberry "smartphones."  $2.6 million for Chinese prostitutes in China to drink responsibly. Lying to Americans by claiming the money was going to "shovel-ready jobs" — and then joking about the falsehood. Lying by hiding the amounts transferred to favored liberal projects unrelated to job growth or economic stimulation.

3. Chronically high, persistent unemployment – His own staff said that he would bring it under 8% ; yet it remains over 9% thirty months into his one term, with real unemployment actually exceeding 15% as huge numbers of unemployed Americans withdraw from searching hopelessly for jobs. Lying about a Summer of Recovery (2010).

4. Gas prices – Now exceeding $4.50 a gallon in California, while he bars exploration in ANWR, restricts licenses to explore along the Atlantic coast or in the Gulf, but exports American dollars to help Brazil explore for oil in the Gulf even as Obama promises that America then will buy that oil from Brazil.  (See also #82.)

5. Failure to pass a budget. The abject failure by the Chief Executive to get any kind of budget adopted for 2010.

6. Multi-trillion debt free-fall. Turning the disastrous Bush deficits into a multi-trillion-dollar economic free-fall, now leaving the nation with a debt exceeding $14.3 trillion . . . and pressing for authorization to increase the free-fall.  His own latest mad deficit proposal was demolished in a House vote 97-318, as his own Democrats abandoned him in droves.

7. The seizure of GM and Chrysler. The illegal transfer of bondholder wealth to unions,  imposing his views on parts of the American auto industry, artificially trying to jump-start his favored companies with "Cash for Clunkers," only to find that American tax dollars were  used instead by people buying preferred Japanese cars to acquire them cheaper while being forced to destroy throughly sound used cars.

8. Dodd-Frank.  

9. Unremitting hostility to Israel.  Destroying the Mideast process by imposing unilateral burdens on Israel, forcing Israel to cease construction of Jewish homes, even in Jerusalem, thus compelling Abbas to harden several positions, all while publicly snubbing Prime Minister Netanyahu in the basement of the White House (the first visit) and trying to snub him on the second visit with a horrible policy speech as Netanyahu was flying en route to America.

10. Failure to support Iran‘s Green Revolution. A complete silence and abandonment of leadership when Iranians risked their lives for freedom, while backing the Moslem Brotherhood uprising in Egypt.

11. Failure to support the Syrian people’s revolution against Assad. Utter failure to lead until it was impossible to overlook the massacres by a dictator who actively finances and supports Iran and Hezbollah, America’s sworn enemies in Iraq and South Lebanon.

12. The Libyan Fiasco.  Entering Libya while failing to consult Congress.  No sense of whether we are supporting people just as bad as Qaddafi.  Remaining in the war more than 90 days without obtaining Congressional approval.  Lying about violating the War Powers Act by claiming there are no "hostilities" in Libya. 

13. The Gulf oil disaster. Bumbling in handling the Gulf oil disaster – refusing aid from countries with oil-cleaning vessels, failing to accept offers of boom to corral the spill, bringing in underwater filmmaker James Cameron as an expert.

14. Closing down oil exploration. The unnecessary moritorium on permitting oil exploration in the aftermath of the Gulf oil disaster, contributing to a massive explosion of oil prices, even leading a federal court to overturn him.

15. EPA interference. The shutdown of Shell’s Arctic oil exploration by EPA

16. Cap-and-Trade Fiasco. The push in Congress for a disastrous "cap-and-trade" plan that would stymie the coal, electric, and natural gas industries, while enormously raising Americans’ home fuel prices, leading even his own party’s U.S. Senator from West Virginia to film a TV promise to voters that he will shoot the proposal full of holes.

17. Use of federal agencies to bypass Congressional oversight. The attempt, after Congress refused to adopt his cap-and-trade nonsense, to bypass Congressional opposition and impose cap-and-trade undemocratically via the EPA.

18. Use of FCC initially to restrict free speech. The push for unconstitutional restrictions on free speech on his political enemies on Talk Radio while assuring protections for unions to spend money on campaigns via The Disclose Act.

19. The Disclose Act and cherry-picking. The attempt to unconstitutionally impose The Disclose Act on his political opponents but not unions via Executive Order.

20. Czars to bypass Congressional oversight. The use of unaccountable "czars" who effectively run huge segments of the American Government without being accountable to Congress and who are protected from Congressional subpoena power.

21. Boorish shaming of Supreme Court justices. The embarrassing and arrogant verbal assault on the Supreme Court while Court Justices courteously attended the first State of the Unionaddress, sitting in front of him, leading most to boycott the subsequent State of Union addresses.

22.  Boorish attempt to shame Paul Ryan. The similarly embarrassing and arrogant verbal assault on Rep. Paul Ryan when addressing the federal budget, with Ryan having been invited personally by Obama to attend the speech and sit in front of him.

23.  Boorish attempt to shame John McCain. The insulting, embarrassing, and arrogant gloating at John McCain during the televised sham negotiation over Obamacare, when he responded to McCain not substantively but by saying that Obama had won and McCain had lost the election — so there!

24.  Refusal to prosecute Black Panthers for Voter Intimidation. Obama’s and Attorney-General Eric Holder’s politicization of the Department of Justice, including refusing to prosecute the Black Panther voter-intimidation case in Philadelphia.

25. Marriage Act.  Obama’s and Holder’s refusal to defend the Federal Defense of Marriage Act, an act of Congress.  

26. Lies, Lies, Lies. The regular use of straw-man demonizations to try winning support for his unpopular legislation, like accusing doctors of performing unnecessary surgery so that they can enrich themselves by imposing misery on their patients.

27.  Throwing his grandmother under the bus. Using his grandmother as a foil to win points, calling her a racist like "typical white people."

28. Bowing to the Saudi King and the Japanese emperor.  Literally.

29. Treating our British alliance contemptuously. Shamefully returning to Great Britain the bust of Winston Churchill that they had given us and that had reposed in the White House, while insulting the Queen and the Prime Minister with inane gifts like DVDs.  The subsequent fiasco while toasting the Queen, continuing to talk during the playing of the British National Anthem.

30. Violating and abrogating long-standing promises to our allies.  Removing the missile shield from Poland and the Czech Republic to placate Putin.

31. Standing with the aspiring Honduran dictator. Backing the would-be dictator of Honduras when that nation’s duly convoked Supreme Court had removed him from office in careful compliance with law.

32. FTAs with allies. Failure to push for quick ratification of free trade agreements with Columbia, Panama and South Korea.

33. Amateurish handling of Afghanistan military effort. The painfully over-extended indecision, for months, whether to authorize a military surge into Afghanistan, then exacerbating the indecision by announcing to our enemies a date-certain withdrawal timeline — a time coordinated with his reelection bid.

34. Incoherence on how to handle the anti-Mubarak uprising in Egypt. Having Frank Wisner despatched as his emissary, and then rejecting Wizner’s advice.

35. Radicalizing the NLRB outside Congressional purview. Appointing [Harold] Craig Becker, a radical unionist, to the NLRB through a recess appointment that otherwise never would have passed Congress.

36. Radicalizing FCC outside Congressional purview. Appointing FCC commissioners who are pursuing "net neutrality" without Congressional authorization.

37. Ecology gone wild in California. Wiping out much of the agricultural economy of California’s Central Valley by restricting full water deliveries to protect a small Delta Smelt fish

38. Gitmo debacles. Promising to close the Guantanamo Bay facility that interns terrorists, trying to close it, failing to close it, refusing to concede his error or assure that "Gitmo" will remain open.

39. Civil trials for terrorists debacles. Promising to move terrorist trials to civilian courts, then trying to prosecute Khalid Sheik Mohammed in Downtown New York, only to be opposed even by the two ultra-liberal Democrat U.S. Senators of New York, then pressing to try another terrorist, Ahmed Khalfan Ghailani, in civilian court, resulting in the terrorist being acquitted on 284 of 285 counts.

40. Napolitano out of touch. The shameful failure of Obama’s Homeland Security chief, Janet Napolitano, to appreciate the Obama Administration’s security failures in the face of the near-catastrophe of the "underwear bomber" in the skies over Detroit, as she insisted "the system worked."

41. Student loans.  Government takeover of the student loan program

42. Border security. Cancellation of the "virtual border fence" project with no replacement, while deploying National Guard troops to do paper work at desk jobs and provide office assistance rather than stand armed along the border.

43. The "Beer Summit." In the aftermath of wrongly castigating and erroneously pre-judging fault regarding the Cambridge Police Department, tying up the country with a foolish spectacle on the White House lawn.

44. Immigration and Arizona. The Department of Justice’s attack on Arizona for that state’s exercise of its sovereign legislative authority on the issue of citizen identification rules.  Failure of his own federal government to execute the law on immigration.

45. The attack on Wisconsin Gov. Scott Walker. Attacking the Wisconsin governor and his state legislature for exercising their sovereign legislative authority on public employment issues, while Obama failed to acknowledge that the new Wisconsin rules are comparable to those that always have applied to federal employees.

46. Lying to McCain on their deal over campaign fundraising. Violating his pledge to John McCain to abide by McCain-Feingold limits for funding his Presidential campaign.

47. Downplaying American exceptionalism.  Apology tours. 

48. Implying that the Minnesota bridge collapse was the result of lack of infrastructure funding

49. Chicago Olympics fiasco. Shamefully inserting himself into a botched campaign to bring Olympic Games to Chicago, thereby exposing the Presidency of the United States to ridicule and formal rejection, and demonstrating early-on his overconfident sense of himself and his unpreparedness for the seriousness of his office.

50. Hypocritical attack on D.C. public school voucher effort. The attack on a voucher program for Washington, D.C. schools, even as his own children are protected from the educational failures that curse the Washington populace.

51. Associating with the murky.  Associations with convicted unrepentant domestic terrorists and eccentric haters of America: the Reverend Wright, William Ayres, Van Jones.

52.  Anita Dunn. Her war against Fox News and her boastfulness that the Obama White House has the "courage to speak truth to Power" — when it is the White House, not a cable TV station, that is "Power"; and her speech to schoolchildren, as a White House representative, sharing with the young and impressionable her idolization and admiration of mass-murderer Mao Tse-Tung.

53.  ACORN. 

54.  SEIU.  Having Andrew Stern, President of SEIU, as the man who has visited the White House more than any other person during the Obama term.

55. Teleprompters / White House for Dummies. A reliance on teleprompters to protect him from stumbling and bumbling speeches when, without scripting, he has spoken of his visits to America’s "57 states," has denigrated the handicapped, could not pronounce "corpsman," moronically said that Austrians speak "Austrian," referred to deceased war heroes adding that many were in the audience he was addressing, and has made more gaffes than Dan Quayle.

56.  Arrogance and Haughtiness. An extreme level of personal nose-in-the-air arrogance and lack of graciousness, from physical comportment to the way he addresses others.  The Roman columns. The arrogant temerity to tell Americans, God-like, that history will record his coronation as the moment that the rivers stopped rising and the planet healed.  

57.  Chicago Corruption. The house he corruptly acquired through Tony Rezko.

58.  The artificial shifting dialects. Affecting an artificial accent when speaking to unions, and to others with whom he allies in his "class wars," that belies his having grown up in Hawaii, reared by a Caucasian grandmother, his having spent years being schooled in Indonesia, and later attending school at Occidental College in California, Columbia University, and Harvard Law School.

59. Lack of transparency. Refusing to share his academic records or the sources through which he paid for private college and law school, despite his pre-election calls for transparency.

60.  Failure to lead on immigration. Not confronting the immigration issue when he dominantly controlled both the House and a filibuster-proof Senate, then mocking the GOP on immigration, saying they would not be happy with "alligators and moats" — when all they want is secure borders.

61. Fiscal irresponsibility on foreign relations with Egypt. Forgiving billions of dollars in Egyptian and related Mideast debt when we are past the 14.3 trillion debt line.

62.  Wasting billions on corrupt "Palestine" agencies. Pumping billions more into the discredited United Nations Relief & Works Agency (UNRWA) and the Palestinian Authority that merged with the terrorist Hamas.

63. Radical judicial appointments.  Nominating a radical leftist, Professor Goodwin Liu, for the U.S. Court of Appeals for the 9th Circuit despite Liu’s contempt for constitutional imperatives towards limited government.

64.  Acceding to political bribery by cherry-picking waivers to Obamacare for favored donors. Forcing Obamacare down the throats of small businesses across America that cannot afford it . . . then approving politically correct and electoral pay-off waivers for his friends, donors, and rich boutique businesses. Granting 20% of all the country’s Obamacare waivers in Pelosi’s San Francisco district.  Buying off votes from Ben Nelson of Nebraska (the Cornhusker Deal), Mary Landrieu (the Louisiana Purchase) to pass Obamacare.

65. Using the White House to crush political opposition. Trying to force donors to his political opponents to reveal their contributions.  Using the White House official website asking supporters to report to the Government instances of people criticizing  Government policies.

66. Attempting to crush media opposition. Punishing a Boston newspaper whose editorial attacked him, having his White House conduct a war against Fox News, claiming they are an entertainment, not a news organization, and then boycotting Fox until that strategy backfired.

67. Encouraging cultural decline. Inviting "Common," a "poet" with disgusting lyrics of hate, to entertain at the White House

68. The Louis XVI Factor. Vacations and high-profile golf during the Gulf oil crisis, prompting even Democrat strategist and Presidential advisor James Carville to erupt in fury. More high-profile golf at Cape Cod while the country was losing its AAA credit rating for the first time.

69. The Marie Antoinette Factor. Michelle high-profile huge trips abroad, a la Eva Peron, with family friends and their children partying on the public payroll, at 5-star hotels in places like Spain.

70.  Al Sharpton. Launching his national presidential reelection campaign with a speech to Al Sharpton’s base.

71. Secrecy in Legislation. Failing to honor his pledge to conduct transparent governance, crafting Obamacare with Democrats behind closed doors barred to Republicans, leaving Obamacare as a massive document so convoluted that Nancy Pelosi had to tell the media: "But we have to pass the bill so that you can find out what is in it." 

72.  A philosophy of redistributing other people’s money. Trying to persuade "Joe the Plumber" that it is a beneficial national economic goal to "redistribute the wealth."

73.  Cynically blaming Republicans and Talk Radio for the shooting of Rep. Gabrielle Giffords. Blaming their rhetoric, while failing to address Democrat use of vile and violent language to describe Republicans and the Tea Party.

74.  Lying about a family connection to the Holocaust. Lying and falsely telling Americans that his grandfather was among those who liberated Auschwitz when, in fact, no American troops liberated Auschwitz.

75.  Failing to grasp the Israel narrative. Describing Israel’s right to exist as premised on the Holocaust, thus missing the entire point of a Jewish country built on the land where Jews have lived since Biblical times.

76.  Lying about a family connection to the Civil Rights movement. Telling Americans that his birth happened because his parents became amorous as a result of the 1965 Selma Civil Rights March — even though he was born in 1961.

77.  Collapse of the housing market. American housing prices lowest since 2002.

78.  Manipulating legislation by forcing votes on massive documents. Racing massive thousand-page legislation packages through Congress without allowing Congress or the American People time to read, comprehend, and absorb the bill — and thus breaking a major campaign promise.

79.   The Credit Rating downgrade. Presiding over the first credit-rating downgrade in American history.

80.  Timing military campaigns to coincide with election campaigns. Manipulating and sacrificing the lives of American soldiers, basing a withdrawal from Afghanistan not on strategic national security considerations but timed instead to coincide with the start of the 2012 Democrat Presidential Convention.

81.  NLRB.  Stacking the National Labor Relations Board with left-focused political hacks who are attempting to prevent America’s leading exporter, Boeing, from building a $1 billion manufacturing plant in South Carolina because that state permits employment of non-union labor.

82.  Cynically manipulating the national Strategic Oil Reserve. Releasing 30 million barrels of oil from the United States Strategic Petroleum Reserve in order to obtain the temporary political goal of lowering gasoline prices that have skyrocketed in the face of his severe restrictions on permitting exploration in the Gulf of Mexico, along the Atlantic coast, and in Alaska in his obsessive pursuit of "green jobs."

83.  "Operation Fast and Furious" debacle. Allowing Mexican drug lords to access illegal firearms, then losing track of the firearms while the drug cartels used the illegal firearms for crime including murdering Americans.

84.  Lying, lying, and more lying to voters.  Trying to create class warfare by telling people that Republicans’ refusal to raise taxes will cause youngsters to be unable to finance their college educations, while causing seniors to lose health care and social security payments.  Failing to admit honestly that Congress extended the Bush tax cuts and refused to increase taxes even  when Democrats had a filibuster-proof Senate and veto-proof control of both Congressional chambers.

85.  Investigating CIA patriots. The Holder investigation into CIA operatives’ interrogations of suspected Al Qaeda terrorists and their use of methods that had been approved in advance by the Justice Department.

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If there’s anything that you believe should be added to the list, then please post a response.

And please post why you think any sane person would vote to have Obama reelected.