Mr. Richard Laddusire recently (Viewpoint, Aug. 26) gave several very weak arguments for the re-election of President Obama. Let’s look at a few.
What really caused the DOW to move 4,000 points since Pres. Obama took office in late January of 2008? The first spike up came in early 2009, it was due to QE1. QE2 followed in the Fall of 2010; and in Sept. of 2011, there was “Operation Twist”. All of these stimuli caused noticeable upward movements of the stock market. Thank you Mr Bernanke and Mr. Obama, I think.
What do all these events have in common? Money printing, and lot’s of it. Billions of dollars thrown at an economy, rather than addressing the problem with sound economic principles. The value of the dollar has dropped 7.4 percent in the last 12 months alone. Did you notice what happened to food and gas prices lately? Are clothes any less expensive? It takes more of our phoney money to buy commodities. So, Mr Laddusire, you’re right, the DOW went up-phoney dollars have that affect on items having real, intrinsic value, such as corporations listed on the DOW. But, was it really worth it?
Now let’s look at job creation. Everyone knows the current unemployment rate is 8.3 percent. It’s been over 8 percent for some 42 months. Nearly 21 million people are out of work, or stopped looking for work. That means the real unemployment rate is over 15 percent. Does that sound like job creation to you? You have to twist statistics until they scream “uncle”, before you can call this job creation. Mr. Obama has had almost four years to at least try to solve the jobs problem-he’s failed miserably. The only job he cares about is his own.
Mr. Laddusires blames the Republicans for $10 trillion in U.S. debt. He doesn’t mention the $5 trillion Mr. Obama has added; and in less than four years.
Finally, let’s talk about “Obamacare”. I can’t believe you’d even go there, Mr. Laddusire. Nearly 52 percent of Americans don’t want it. It’s filled with new taxes, and steals $716 billion from Medicare, in order to fund a portion-you heard right-a portion of this travesty.
Give it up, Mr. Laddusire, our great country can’t afford four more years of Mr. Obama.
Thomas Seehafer, Rhinelander