What Will the Next 4 Years Bring? Part 1: If President Obama Wins.

We have heard a lot of propaganda and non-sense in commercials or at the convention, but will an Obama victory really mean to the country?

What would a second Obama term mean to the country? We already know he would have to deal with a House with a strong Republican majority and an even a chance of a Republican controlled Senate. Given that he has shown no interest in listening to even many moderates in his own party, there is zero chance of significant new legislation or reform. So clearly we will do nothing to deal with our major issues of saving entitlement programs, deficit reduction, or improving the economy. But the bad news is President Obama can be extremely dangerous without any help from Congress. I will not get in to controversial claims of what he is likely to do, which may be even worse than what we know he will do.(1) I want to focus on what we know he will do with Obamacare, energy, debt, spending, and the economy.

The first most obvious effect of an Obama win would be that Obamacare will stay with little modification. Seniors will be stuck with the changes to Medicare including the advisory board that will eventually decide what services to deny. Obama can talk about the language that declares that board does not have the power to ration healthcare, but it is a hollow promise because the board will set the payment rates for services that will in effect limit the availability of those services.(2) It is like in the former Soviet Union when often people had Rubles, but the stores had nothing on the shelves. For the rest of us it will continue to be a wet blanket on economic growth and within five years at least 30% of us in the private sector will lose or current coverage and be dropped in to exchanges. This will of course explode the deficit. If the debt crisis does not come in his next term, Obama may be able to avoid raising taxes on the “middle class”, but then even the GOP will be forced to support a VAT tax to delay a debt crisis after it becomes clear it is impossible to reverse course on Obamacare.

The EPA has been given approval to regulate carbon dioxide as a pollutant. You can be sure the EPA is set with a plan to put in place to achieve the goals of the Cap & Trade system that was rejected on bipartisan basis in the Senate. President Obama will finish the War on coal. The results will be higher utility rates, more dependence on foreign oil, massive losses of jobs in energy intensive sectors like manufacturing, and much weaker economy resulting in tax revenue coming in below projections. Many predict in the long run this will lead to shortages of energy and rolling blackouts.(3)

The debt will continue to spiral out of control. As we see from the way Democrats reacted to Romney’s suggestion to eliminate subsidies for PBS. They are more interested in saving Big Bird from and imaginary ending, than saving Medicare from a real threat. Given this attitude it is clear President Obama does not take seriously the need to cut non-defense spending. Most of the spending cuts he claims are already in law and the rest do not occur until long after he is out of office. The GOP will likely continue to cave on spending with Obama being a lame duck president with no reason to care if the government is shutdown. He will get his tax increase on job creators because if the GOP does not cave, taxes will go up on everyone. President Obama would prefer ending all the Bush Tax cuts than no tax increase so he will not negotiate. We cannot fix the debt issue if we do not have stronger economic growth, but not only does the President not have any ideas to encourage more economic growth, all of his agenda is like a “wet blanket on the economy”.  This weaker economic growth will cost more in tax revenues than he will generate from his tax increase plan in the long run.

President Obama’s agenda will be decidedly negative for jobs and the economy. It is interesting that the Obama campaign keeps whining that Romney needs to give more specifics when they do not even have a reasonable general framework of a plan at all for the same issues. The only ideas he has are increased spending on his supporters like teachers unions and green energy. Neither will get any increase though Congress. Even if congress was dumb enough to approve them they would create no jobs like they did in his first four years. Given his attack on American energy production, increased taxes, and no stopping Obamacare, it is almost certain we will face another recession. We will be on an unstoppable path to a debt crisis like we see in Europe.

In addition to the list above there is much more Obama can and will do without Congress and all of it will be bad for the economy. I have heard economists are forecasting 12 million jobs to be created in the next four years. They must be forecasting a Romney Victory. If Obama wins we will be lucky to maintain the current job growth trajectory which is about what we need to keep the real unemployment rate the same.  More likely we will see negative job growth. I like a quote I saw on a commercial last night, “In socialism it is true the rich will be poorer, but the poor will also be poorer also.”(4) President Obama is right on one thing, you know what you are going to get if he wins, an unstoppable path to a government controlling the economy, and all aspects of our society leading to a debt crisis and misery for all.

1)      http://www.dickmorris.com/obamas-second-term-plan-let-the-u-n-tax-americans/

2)      http://cjonline.com/opinion/2012-10-09/george-will-romney-danced-around-obama

3)      http://www.foxnews.com/politics/2010/12/27/oil-exec-predicts-gallon-gas-energy-shortages-decades-end/

4)      http://www.youtube.com/watch?v=UnX7TNFIELg

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Bernard Forand October 17, 2012 at 05:20 PM
Romney was weak on alternative energies. Strong on us building an oily toxic pipeline for the oil companies thou. Haven’t we have enough spills from our Mountains, Rivers, Out on the Plains, our Oceans and right on down to the Gulf Of Mexico. After 3 decades Alaska still is plagued with oily spilled issues to there fisheries. How long for the Tropical Gulf of Mexico? Romney had issues with this $ 90 Billion for alternative energies just as Ryan mimicking their myths and fables. Ryan just recently demonstrates their lack of knowledge on Green issues and their finacing. {“The vice president was in charge of overseeing this. $90 billion in green pork to campaign contributors and special interest groups.”} Multiple reviews, including an independent review of all Department Of Energy loan programs by Herb Allison –- finance chair for McCain for President 2008 –- have found no “pork” in the stimulus’ funding of green projects, concluding that the loans were not steered to friends or family, as Ryan claims. http://www.politifact.com/truth-o-meter/statements/2012/oct/05/mitt-romney/mitt-romney-says-barack-obama-provided-90-billion/ Pulitzer Awarded site. Now how about the elite kicking in their share of the taxes. Mitt says they pay enough! After all the welfare they get and all they want to pay is 15% or less! Don’t leave much to cover that pipeline. Guess Romney figures the 47% can handle it
Bernard Forand October 17, 2012 at 05:31 PM
By ERIC LIPTON Published: October 1, 2012 By ERIC LIPTON Attorneys who represent whistle-blowers have made millions as the Obama administration cracks down on corporate fraud, and are now donating heavily to the president's re-election campaign. WASHINGTON — As the Obama administration has cracked down on corporate fraud, lawyers representing whistle-blowers have reaped multimillion-dollar rewards. Now, as they seek to sustain these historic payouts, they are serving as generous donors to the president’s re-election campaign. Bill Crandall fo The New York Times John R. Philli A Legal Circle Reaches Deep to Aid Obama Top whistle-blower lawyers, has raised more than $200,000 for Mr. Obama’s re-election from colleagues. Lawyers in the tight circle who specialize in filing fraud claims with the federal government on behalf of clients with evidence of wrongdoing have raised more than $3 million so far for President Obama. Their support comes as Mitt Romney, the Republican presidential nominee, has called for repeal of the Dodd-Frank Act, which imposed new oversight of the financial services industry and expanded the government’s whistle-blower program to the Securities and Exchange Commission, which has set aside $430 million for payouts. Business groups pushed for legislation imposing a cap on payments to whistle-blowers, arguing that rewards reaching as high as $104 million, have turned anti-fraud efforts into a lottery.
Johnny Blade October 17, 2012 at 05:51 PM
Free LED TV's, to go with my free food, free phone, free healthcare .... Woooo more free stuff
Bernard Forand October 18, 2012 at 01:07 AM
Just in early polls of people who have already voted from Illinoisand Ohio Obama and Republican Mitt Romney are neck and neck in opinion polls, but there is one area in which the incumbent appears to have a big advantage: those who have already cast their ballots. Obama leads Romney by 59 percent to 31 percent among early voters, according to Reuters/Ipsos polling data compiled in recent weeks. Ohio Early Voting Cleared by High Court The U.S. Supreme Court sealed a legal victory for President Barack Obama’s campaign in the pivotal state of Ohio, leaving intact a ruling that restored early voting rights for the weekend before the Nov. 6 election. Ohio Republicans had sought to cancel early voting that weekend for everyone except members of the military. A U.S. appeals court blocked the plan last week, saying it probably violated the constitutional rights of non-military voters. In a one-sentence order, the Supreme Court today rejected a challenge to that ruling, filed by Ohio’s Republican secretary of state and attorney general. Obama pulling ahead. After a lackluster performance in the first debate of his re-election campaign, President Barack Obama scored a victory over Republican nominee Mitt Romney in their second encounter, according to post-debate network polling. An instant poll of undecided voters by CBS after the contentious town hall session ended found Obama beat Romney 37 percent to 30 percent, with 33 percent calling it a tie.
Bernard Forand October 18, 2012 at 01:16 AM
Notice the right wing nuts are reduced to their usual spittle. They are deflating. Observe the Hoffas; Take all of their comments and place them on a slide. Put it under an electron microscope and poof nothing there. The Hoffas are but the shadows of a non substance. Merely a void within a void, where light can not reach.


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