The United States Census Bureau says that over 49 million in poverty, a significant increase during the Era of Barack Hussein Obama. An economist from the University of Wisconsin, Timothy Smeeding, calculates that the 49.7 million living below the poverty line are a sign of a very slow recovery. So slow that the poverty rate for Latinos and other core groups for Obama are doing worse now than before Obama. Yesterday also saw a major spike upwards in new filings for unemployment claims and today we learn that Hostess is closing its doors due to a labor dispute. How odd that a company born during the Great Depression has now succumbed to the New Normal of the Obama Depression. No supplemental measure proposed by Obama will change this reality.
Yes, there is bad news everywhere. The reelection of Obama spells nothing but trouble for the future of the United States. And things will get worse as we continue our countdown towards the ′Fiscal Cliff′ and the Obama administration adds more and more regulations. Forbes Magazine has downgraded America to 12th place for countries to do business in. With the pending costs of ObamaCare and Obama′s desire to tax small businesses, we can expect that position to decline further for 2014.
Hundreds of companies are already beginning to lay off workers, cut their hours and benefits as the Marxist agenda of Barack Hussein Obama draws closer and closer. American small businesses are like damsels in distress, tied to railroad tracks as the freight train loaded with dynamite barrels towards them. Obama says he wants the top 1 or 2 percent to pay their ′fair share′ of taxes. The top 1% already pay 28.9% of all federal income tax revenue while earning only 16.7% of said income. This includes the top 3% of small businesses, whom have accounted for nearly 50% of all job creation the past decade. Yet, Obama wants to tax them even more, a recipe for economic disaster.
The United States Census Bureau better sharpen their pencils, for the 49 million in poverty is guaranteed to increase under another four years of Barack Hussein Obama. Economist Timothy Smeeding confirms that the increase in poverty rates, with more people below the poverty line, is a sign of a weak economy. Obama may try some supplemental measure to offset those impacted by his own foolishness, but in the long run, these efforts will fail. Just as every other aspect of Obama′s Marxist agenda has failed during his first term in office. Thanks to the Obama administration pro-union labor board, Hostess bakeries are closing down, so we will no longer even have Twinkies to provide momentary comfort from the New Normal of Obama.