What has happened to the unlimited support for President Obama in the main stream media? For four years, that support has been unwavering, and yet now, it's crumbling.
The idea that an adviser to John McCain might suggest the current regime of President Obama has to go away is no surprise. Many of those on the Right side of the political spectrum have been saying that since Nov. 2008.
Even some of those who identify themselves as Independents weren't overly impressed with the paucity of credentials for the job of what is arguably one of the most powerful positions on the planet. But many held their nose and chose to vote for the "First Black President" with hope that he could somehow grow into the job.
That growth appears to have not happened, and there is an angry crowd at the gate, with sullen faces, Romney/Ryan stickers on their BMW's, and a deep concern for the future of the nation when there are so many Americans unable to find a job.
Niall Ferguson is reported at The Daily Beast to have an article in the upcoming Newsweek magazine entitled "Hit The Road Barack, Why We Need a New President"
In his article, Ferguson outlines some of the problems of President Barack Hussein Obama faces in his election this November, and some the problems do seem far beyond the capability of the current Regime to understand, let alone figure out a solution.
Rampant unemployment is still with us, when Barack promised to reduce unemployment to less than 6% by 2012.
Economic growth was forecast to be 3.2 % in 2010, not 2.4%; 4.0 % was the target for 2011, not the miserable 1.8% which occurred, and when looking at 2012, it seems most are considering 2.3% to be the best this administration can do, instead of the 4.6% which was earlier forecast.
None of those numbers bode well for an incumbent president, it leads to stagnant or regressive results in real median annual household income. That in turn amounts to Americans being unable to afford to make the purchases, which drive the small business engine of this nation. It also means the average wage earner may not be able to buy a five dollar cup of extremely high strength coffee as often and that has the possibility of creating a declining productivity for the nation, maybe.
One comment in Ferguson's article did truly bring home the larger overall problems within the economy. The issue is noted as being the number of Americans who make enough income to file a taxable return.
Ferguson calls it a 50/50 nation. Nearly half of the nation receives some form of benefits from the government while the other half pays for those benefits.
Ferguson makes the point that the real failure of the current President is one of leadership, or the actual lack of it.
Quoting from Ron Suskind’s book Confidence Men, one of the members of the President's economic advisory team, Larry Summers spoke to another member of the team, Peter Orszag, and stated: “You know, Peter, we’re really home alone ... I mean it. We’re home alone. There’s no adult in charge. Clinton would never have made these mistakes [of indecisiveness on key economic issues].”
Let's keep in mind that the economic engine of the United States had been a large portion the driving force behind the world economy for decades, and apparently a man-Child was now in charge. A man without a clue of how much he didn't understand about the problems, nor even the scope of the problems apparently.
The issue of the unpaid for liabilities of Obama-Care are facing us now, which has gone from revenue neutral to a CBO (Congressional Budget Office) estimate of a $1.2 trillion cost by 2022, concurrent with a loss of leadership in the GDP economic sphere by 2017 to China is another factor which needs attention.
If a miracle Hail-Mary solution isn't found for the upcoming tax increases by January 1, 2013, the CBO estimate is a 4% reduction in output. The cost of that will of course be higher unemployment and faster loss of the income tax revenue stream. A double whammy to a nation in what some would call a depression rather than a recession or the Orwellian Newspeak "Recovery".
With higher deficits, budget cuts to the military occur, does anyone out there really feel safer now than you did in 2006, 2008, 2010 or even last week?
But beyond all of the very real problems this nation faces, and they are both real and dangerous, is the issue of what happened to wake up the management at Newsweek? On June 22, 2009, the Newsweek cover was Barack Hussein Obama, and the title was "Better Than FDR, (And Cooler Than JFK)"
President Barack Hussein Obama appears to have been thrown under the bus, and it's another "first" for him. He may not crow about this one very loudly though. It also begs the question of how long will it take for the Obama campaign to figure out how to spin the story, blame it on Bush 43, and make the charge that Rush Limbaugh had something to do with the article by Niall Ferguson.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com