U.S. President Barack Obama (left) and Treasury Secretary, Timothy Geithner (right)
In the October 30, 2009 article "Artificial Growth" the Judiciary Report stated, President Barack Obama's financial plans and initiatives, would only create short term growth, which is insufficient to remedy what ails America's economy.
One year later, the Judiciary Report, has been proven correct, as mainstream news outlets are reporting this month, as the President's Cash For Clunkers program, First Time Home Buyers tax rebate and temporary Census job positions have ended, the U.S. economy is once again registering massive declines. National car and home sales are down and unemployment is up once again, reaching 9.6 percent. Foreclosures also continue to rise, signaling the President's homeowners programs have been unsuccessful.
These are indicators the economy is regressing and to great degrees, indicative of a recession turned depression. The financial plans the President utilized, only provided artificial growth, which translates into temporary results, not worth the debt it cost to bring it into being.
Former President, George W. Bush, failed to fix the economic problems he created while in office, with irresponsible spending and outright deceit. Bush lied about the price tag of his administration's programs and greedy endeavors (see: wars in Afghanistan and Iraq to pilfer oil and precious metals worth trillions).
Bush then released false economic numbers to cover the massive damage he had done to America, which was unloaded on the Obama administration. However, no long term solutions have been provided in the 18-months Obama has been office, which regrettably saw him spend more money than any other president in U.S. history
The turnover has not been worth the capital expended. The Judiciary Report warned almost two years ago, sensible spending, kept to a minimum, on fruitful, lasting job creation was the way, but the government has and continues to, focus on quick fixes that have and will fail again. This is not the way.
