This was a historic election. More consequential than 2008, because of these reasons:
- The current economic conditions are twice as bad as the conditions in 2008: The size of debt has been doubled, we have projected $1T deficits, less work available, higher unemployment rate, more people on food stamps, higher inflation looming because of QE1/2/3, no budget passed for over three years, an Obamacare that cannot finance itself, Medicare losing $700 Billion and massive tax raises planned to kick in next year, which will stifle job creation. The US per-capita debt is now worse than the Italian. We are in for a long “recovery” (if any). Young people do not even understand how much worse the economy can get, and the consequent lack of jobs. “Forward” is not very good when you are on the brink of a precipice.
- President Obama will have a chance to elect probably 3 SC justices. This will have an impact on America on life, family and constitutional issues for the next generation.
- The ability of the US to defend itself and its allies from terrorism and from potential nuclear treats will be greatly reduced, because of budget requisitions introduced by this administration.
- The ability of the US to maintain its sovereignty will be reduced, because of fore coming concessions to the UN.
- We have seen a tendency towards nationalized control of information, as evidenced by the cover-ups by the traditional media of Fast and Furious and Benghazi, both more serious than Watergate.
- There will be a divided Congress from the beginning of the president’s mandate, which is not conductive to passing any legislation.
With such a starting point, any president would face a difficult task, but especially a president who does not understand how wealth is created, who is motivated by an anti-colonialist culture, has a divisive attitude towards sexes, races and religions, tends to avoid responsibilities, chose to follow an appeasement strategy towards terrorism and believes in a class-struggle ideology that has never worked where it has been tried.
Why did Americans trust him with the most important office in the land at such a critical time?
I do not think that the American spirit has been passed on to the younger generations. We have let governments grow and our self government ability slip away. We have become the old world.