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Two years ago on Jan 20, 2009, Barack Hussein Obama was sworn in as the 44th president of the United States. Happy days were here again. Hope and change had arrived. There was dancing in the streets in America and in the European socialist states. Communists dictators were also dancing in their leftist delights. America was then not racist any longer. Obama and company would usher in prosperity, peace, rights and respect for women and racial minorities with free health care for all and the government controls needed to force the rich and powerful to share their wealth.
Two years later and $3 trillion deeper in debt, the question to be asked is, “Are you better off today than you were two years ago.”
Obama uses the word invest when he should use the words consume or spend. The business dictionary says invest refers to money committed or property acquired for future income, or the creation of capital or goods capable of producing other goods and services.
Investment involves productivity and productivity increases wealth. The last $3 trillion removed from the economy has not produced any wealth but only removed wealth from us.
Obama has continually said that we (which means the government) will invest in biomedical research, information technology and clean energy. What Obama means is that the government will remove money from the private sector and recycle it back into the private sector while creating more highly paid bureaucrats to monitor and regulate the process.
The removal of money from the private sector to be doled out by GovCo is the problem. If big government was the solution, then the former Soviet Union would be an economic giant today. Europe would have an economy that American would move to.
GovCo is not the economic force to drive an economy. GovCo cannot invest, but only spend what it removes from the economy. This is why we are not better off now than two years ago.