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Would you re-hire this employee?
Listen to the broadcast of You Tell Me on KTBB AM 600, Friday, September 28, 2012.
If the polls are to be believed, approximately half the electorate wants to see President Obama re-elected. That’s fine. The only U.S. president ever to win by acclamation was George Washington. Every president since has been elected to office despite the fact that a significant percentage of the population wanted the other guy. That such is the case is the reason we have elections.
But I have a question for those wanting to renew President Obama’s contract.
What about the past four years do you wish to see continued for the next four years? Is it the president’s fiscal management? In just three and a half years, the U.S. national debt has ballooned from $10.6 trillion on George W. Bush’s last day in office to more than $16 trillion today. If you can’t wrap your mind around such huge number, don’t try. Let’s lop off some zeroes and make the number easier to understand.
If you lop off eight zeroes from what the U.S. government takes in in income, you get $24,690. That’s a comprehensible number. It’s an annual salary for millions of people. Now if you lop the same eight zeroes off what the federal government spends, you get $37,290. Take $24,690 in income, subtract $37,290 in expenses and you get a deficit of $12,600.
Now, lop the eight zeroes off the $16.0 trillion national debt and you get $160,000.
What you then see is a household that makes only $25 thousand a year that owes $160,000, that is spending $1.50 for every dollar it takes in and that is adding to a debt it has no prospect of ever being able to repay.
Ask yourself, how long could you make this scenario work? For how many years could you owe six figures to MasterCard and keep charging $12,600 in living expenses while paying nothing against the balance?
If this were a business, how long would you keep the manager?
Such is U.S. fiscal policy under President Obama. Are you really OK with another four years of it?
What about the president’s legislative accomplishments? Tell the truth, are you really excited about Obamacare? Has the cost of your health care come down even a single penny? Deep down, don’t you really suspect that Obamacare is going to fall far short of its promises? Don’t you worry even a little that you’re going to find yourself someday having to get around a bureaucrat in order to get to a doctor?
What about the economy? Are you hoping for more of the same? Yesterday, we learned that second quarter GDP growth has been revised downward (it never gets revised upward) to a truly dismal 1.3 percent, far short of the growth needed to get unemployment down from the over eight percent at which it has persisted for longer than at any time in 75 years. Does that work for you?
Or perhaps you’re proud of the fact that U.S. embassies are under siege all over the world. Maybe you’re OK with the fact that Afghanistan is descending into chaos. Or that a crazy man who hates America and is in charge of a nation of 75 million people is about to get his hands on a nuclear bomb. And that that man apparently has no fear at all of America’s commander-in-chief.
I could go on about bankrupt solar panel companies, electric cars that no one wants, the explosion in the number of food stamp recipients and a long list of other things, but space does not permit.
Say what you will about Clint Eastwood’s GOP convention appearance. He got one thing right. We do own this country and politicians are employees of ours.
So before you decide to re-hire Barack Obama put your owner’s hat on.
If you were Jerry Jones, if America was the Dallas Cowboys and if Barack Obama was the head coach, based on the results, would you give him a four year contract extension?
What would you say to your season ticket holders after you did?