Obama “Here’s Your Sign”
A popular comedian, Bill Engvall, uses a catch line of “Here’s your sign” the basic premise of which is that stupid people should be given signs that say “I’m Stupid” in order to warn the rest of us not to put any faith in nor lend any credence to them.
While the left holds Obama up as a messiah and some sort of brilliant thinker, I on the other hand have long felt that he should be given one of Engvall’s signs, but this latest example only convinces me more of that fact. While campaigning at an event in Poland, Ohio last Friday resident Obama said that supply-side economics was a “theory” that it “has never worked.” Oh really? Well Mr. Obama either you’re a bald faced liar or your stupid, I’m honestly not sure which is more true.
I suppose if you believe that the Obama Stimulus package was a wonderful success, then you would believe this drivel too. In reality, it was billions of tax dollars wasted and the promised benefits never seen. Obama is flat-out wrong about the Kennedy & Reagan economic policies, they weren’t just theory that didn’t work, history proves it. In the nineties, the liberals were screaming, as they still do today, that Supply-Side Economics” was a failed experiment, however a policy study by the CATO institute published in 1996 shows the real truth. You can read the entire report [here], but I’ll synopsize it for you.
- Real economic growth averaged 3.2 percent during the Reagan years versus 2.8 percent during the Ford-Carter years and 2.1 percent during the Bush-Clinton years.
- Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years; it experienced a loss of almost $1,500 in the post-Reagan years.
- Interest rates, inflation, and unemployment fell faster under Reagan than they did immediately before or after his presidency.
- The only economic variable that was worse in the Reagan period than in both the pre- and post-Reagan years was the savings rate, which fell rapidly in the 1980s. The productivity rate was higher in the pre-Reagan years but much lower in the post-Reagan years.
The report also shows that tax cut policies instituted by JFK before his assassination, had benefits in the late 1960’s that were even better than those seen in the Reagan years. It also debunked several popular “Reaganomics” lies such as “The rich get richer and the poor get poorer” the truth is that from 1980 to 1989 while the richest 5% saw their piece of the income pie raise from 16.5 to 18.3%, or just under 11%, the number of Americans making less than $10K per year in 1980 dropped from 66 to 62.6 million by 1989, a drop of 5%. Those making between $10K and $50K per year rose from 9.9 to 15.6 million, an increase of 60%. Further, those making less than $75K per year rose from 3 to 5.5 million an increase of 83%. So the truth is that the middle class fared much better than the poor or the rich, but everyone made out better. Isn’t Obama always claiming he’s looking out for the poor and middle-class? Then here’s the better path than his lame cry of “Tax the rich”.
His highness Obama is so far out of touch with reality, that it now surpasses being just a matter of policy disagreement. Remember this dunce recently said that the “Private sector is doing fine”. I suppose as long as it’s someone else’s money, then he’s all about playing Robin Hood and telling us we’re doing fine, but in reality he’s just buying the poor vote by promising that which is not his to give. All the while the failed policies of the left continue to hurt and enslave those they claim to be helping.
So Mr. Obama, giving you the benefit of the doubt between being stupid or just being a pathological liar… HERE’S YOUR SIGN.