To review:
We are still stuck with that initial healthcare overhaul that, along with the continuing threat of Cap & Trade, has sidelined hundreds of billions if not trillions of investment capital that otherwise would have been circulating in the economy, used to hire and pay people, and would be purchasing raw materials that would be real stimulus.
We are stil stuck with an uncertain tax policy that has a conservatively estimated $3 trillion in American investment capital parked offshore.
We are still stuck with all the unsustainable entitlements that existed before.
We are stuck with a 2012 budget that will greatly expand spending as there are no real cuts for 2012 built into it and it won't be voted on as it was 'deemed to have been passed' in the debt ceiling gimmick we just witnessed.
The word is out that our government managed to spend almost ALL the debt ceiling increase this week. So by next week we could easily be facing another debt ceiling increase which the President has authority to do, via that 'compromise gimmick' and he almost certainly will.
The DOW fell 512.76 points today, the greatest single day decline since the housing bubble burst in 2008, all other indicators were also sharply down, and in the past week the market erased all its gains for the year.
Unemployment, which we were guaranteed would not rise over 8% if we went along with the stimulus package, seems stuck at just under 10%, housing continues to lose value across the country, and the misery index climbs day by day.
The national debt is now a hair's breadth within our entire annual GDP which is showing almost no growth which means the country is essentially bankrupt.
But our fearless leader was hosting his own $38,500/couple birthday bash in Chicago on Wednesday at which time he said this:
"It's been a long, tough journey. But we have made some incredible strides together. Yes, we have. But the thing that we all ought to remember is that as much as good as we have done, precisely because the challenges were so daunting, precisely because we we were inheriting so many challenges, that we're not even halfway there yet. When I said 'change we can believe in' I didn't say 'change we can believe in tomorrow.' Not change we can believe in next week. We knew this was going to take time because we've got this big, messy, tough democracy," President Obama said at a campaign fundraiser in Chicago on Wednesday night.
The man doesn't have a clue and it is obvious we can't look to him for leadership. And it's pretty hard to trust either the Democratic or Republican leadership after the smoke and mirrors scam they just pulled on us.