Don't Blame President Obama
Sept-29-2011 - There are many reasons for the current downward spiral in our economy. High petroleum prices add cost to practically everything. Manufacturing jobs have moved to low wage countries in enormous numbers. There are constant, systematic efforts to rewrite legislation in favor of corporations and the mega-wealthy. Seventy percent of our economy is based on consumerism and Consumers are spending less.
Private and public debt levels are very high. Paying down debt slows demand for businesses. The slow economy means lower levels of tax revenue, which raises government deficits.
The ensuing layoffs aggravate already high unemployment.
Computer technology has made employees more productive in most sectors of the economy, enabling a shrinking of the work force. Wall Street has captured all three branches of government. The cost of food , fuel and housing have been removed from the calculation of the cost of living, This makes the inflation rate appear lower. The consensus among commentators is that the real unemployment rate is well above the official 9 percent. The military-industrial-congressional complex continues its futile wars against terrorism and drugs , a huge drain on resources.
To those of you who blame President Obama for all of this,
I would recommend a lot more reading.
White House Press Briefing
Sept-29-2011--White House Press Briefings are conducted most weekdays from the James S. Brady Press Briefing Room in the West Wing.
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Open for Questions
with President Obama
Sept-29-2011--President Obama participates in an
"Open for Questions" roundtable responding to questions from readers of Yahoo!, MSN Latino, AOL Latino and HuffPost LatinoVoices on issues that matter most to the Hispanic community and all Americans.
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