It has been since 1962 that a true Harvard grad has been president, a span of 47 years while it has been 49 years since one was elected president. Of course we are referring to John Kennedy and I think it is clear already that Barack Obama sure isn't any John Kennedy.
Oh yes, the fact checkers may say "wasn't George Bush, Jr. a Harvard Business School grad" and the answer is yes but based on what he did with the economy and what Obama has done since taking over it might be something that Harvard may not want to talk about. Besides, Bush was a Yale undergraduate while Obama was a Columbia undergraduate.
Now Obama seems to be a nice enough kid. Maybe he made a few mistakes because of his lack of experience, mistakes getting to the White House and mistakes now that he is there, but in spite of his claims that being a community organizer qualified him to run the economy, fix Wall Street and give us all health care, we now know that is just plain nonsense.
I don't remember anyone in the campaign telling us the Obama Administration would be an on-the-job training program for future liberal leaders rather than the president of all the people all the time. His gang has ignored Republicans and Independents and tried to use the Democratic majority in Congress to jam legislation down our throat.
The Obama handlers seemed to forget that just 53% of Americans voted for Obama while 47% opposed him. His was not an overwhelming public mandate but a referendum on the Bush Administration which seemed to be drifting aimlessly the last few years in office. Even Adlai E. Stevenson of Illinois, the last famous liberal presidential candidate from Illinois and three time loser could have beat Bush last year.
Unfortunately for the Republicans Bush was soooo unpopular Speaker Nancy Pelosi was able to get a Democratic majority in the House and Majority Leader Harry Reid got one in the Senate thus, in their minds, giving the president an ironclad veto proof majority in Congress.
So after promising us a break from old style politics and transparency and no lobbyists and prosecution of crooks and new ideas, etc., etc., etc. Obama was able to use the Pelosi-Reid majorities and slam a massive amount of legislation down our throats to fix all the things the Republicans screwed up the past 8 years. It was a great opportunity and a historic landslide of laws but they were written by the same old politicians and lobbyists who were already owned by the special interests from Wall Street to Union Leaders and the laws were filled with the same pork barrel projects we always expected before.
As for the Emergency stimulus bill which Obama touted as the savior of America at a cost of $787 billion to fund shovel-ready projects that could be implemented immediately, we are entering the 5th month since passage and so far the accelerated efforts of Obama have managed to get $44 billion spent, just 5% of the money. Most was probably for unemployment benefits which has nothing to do with stimulus.
In spite of the failure of the program, the economy continues to recover meaning why did we need the program in the first place? We didn't. But Obama did to fund all the none stimulus social agenda he wanted to advance the liberal cause in the nation. Our secret march toward socialism will leave an amazing legacy if left unchecked by Congress.
In less than six months since Obama took office the USA has borrowed more money than the entire amount borrowed during the previous 30 years. In terms of foreign countries of course China continues to hold the biggest mortgage on the future of America with $767.9 trillion in US debt and a total of $1.4 trillion in US debt and US currency. Since we forced Chrysler and GM into bankruptcy and Fannie May and Freddie Mack were bailed out with federal ownership I guess that means China and the other foreign debt holders will own America's largest auto and mortgage companies as well.
The top 7 foreign debt holders are China ($767.9 b), Japan (686.7 b), Caribbean Bank Centers ($213.6 b), Oil Exporters ($192.0 b), Russia ($138.4 b), UK $128.2 b), Brazil ($126.6 b), and Luxembourg ($106.1 b) with a total of $3.2 trillion in foreign debt ownership.
Now the Administration takes comfort in knowing the Federal Reserve here in the US owns the greatest amount of US debt, $4.8 trillion, but who owns and controls the Federal Reserve? Not the US government. Not the US president. Not the US Congress. No, the twelve regional Federal Reserve banks are owned by the private banks doing business with the Fed.
The Obama record shattering borrowing has pushed the US into a debt never before seen and he has just begun. Waiting in the wings are more bank and other bailout programs, energy efficient spending, more health care spending, and a crippled Social Security and Medicaid programs all in need of billions and billions of dollars.
The failure of the Obama economists to accurately project unemployment trends led to gross errors in the estimated costs or value of new programs like the stimulus and bank bailout, the bank stress tests, and the US budget revenue and deficit projections. Obama and the Democratic Congress decided the unemployment rate would stop at 8% because of all their spending yet the rate shot to 9.4% in spite of the spending or lack of spending. It will most likely rise throughout 2009 as projected in the Coltons Point Times and peak around 10% before the effects of economic recovery, not stimulus spending, begin bringing it back down.
So far Obama and the Democratic Congress have brought us record unemployment, record debt, record foreign deficits, record foreign ownership of US assets, record bailouts of banks, mortgage companies, insurance, auto and other industries, and record oil prices with no demand to support it.
Even the Obama worshipers like the media, liberals, unions, bureaucrats, teachers, disenfranchised citizens and Democrat puppets are beginning to get nervous about the failures of programs to protect them and their special interests. Wait until they begin to feel the effects of spiraling interest rates and skyrocketing inflation rates to pay for all the liberal agenda which will surely be the result.
Oh yes Obama is a likeable guy. His wife is likeable as well. But being likeable and from Harvard, Columbia and Princeton Ivy League schools as they are does not make one mature, street smart nor able to govern any better than a Ronald Reagan also from Illinois who attended tiny Eureka College with a student body today of just 750 students.
