The Beginning Of The End
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Empty Promises: 5 Reasons Why Barack Obama’s State Of The Union Address Was Completely Wrong About The Economy

Barack Obama's State of the Union address sure sounded good, didn't it?  There were lots of solemn promises, lots of stuff about America's "bright future" and a line about how we are now facing this generation's "Sputnik moment" that will surely make headlines all over the globe.  But we all knew that Barack Obama could give a good speech.  That has never been the issue.  What the American people really need are some very real answers to some very real problems.  So were there any real answers in Barack Obama's State of the Union address?  Well, Barack Obama promised that America will "out-innovate, out-educate and out-build" the rest of the world.  He also pledged that America will become "the best place in the world to do business" and that the government must "take responsibility" for our deficit spending.  But does all of this rhetoric mean anything or is all this just another batch of empty promises to add to the long list of empty promises that Barack Obama has already made and broken?

The American people certainly don't need any more empty promises.  Millions of American families have been pushed to the edge of desperation by this economy.

There has been a lot of talk that the economy is "turning around", but in many areas of the country the employment situation continues to get even worse.  Payrolls decreased in 35 U.S. states during the month of December.

The truth is that the number of "good jobs" produced by the U.S. economy continues to shrink.  In fact, only 47 percent of working-age Americans have a full-time job at this point.

The American people are not going to buy this "economic recovery" as long as unemployment remains at epidemic levels in so many areas.  Just consider some of the stunningly high unemployment rates in some of our most important states....

Nevada - 14.5%

California - 12.5%

Florida - 12.0%

So did Barack Obama propose anything substantial that will actually create real jobs?

No.

Instead, all he had to offer was just a bunch of empty promises.  It is almost as if Obama believes that a really good inspirational speech will somehow make things better.  The following are just a few of the empty promises Obama made during his address to the nation....

Empty Promise #1: America Will "Out-Innovate" The Rest Of The World And This Will Create More Jobs

During the State of the Union address, Barack Obama promised that the United States will "out-innovate" the rest of the world and that this will create more jobs.

Oh really?

Perhaps we could create some more cutting edge products like the Apple iPhone, right?

After all, Apple iPhones were one of the most wildly successful American technological innovations of the past decade.  Surely this is the kind of innovation that Obama would like to see more of.

Well, do you know where Apple iPhones are made?

Apple iPhones are manufactured in China by workers making about 293 dollars a month (and that was after a big raise).

But it isn't just the Apple iPhone that is made overseas.  The truth is that almost all high technology products are made outside of the United States.

In 2008, 1.2 billion cellphones were sold worldwide.  So how many of them were manufactured inside the United States?  Zero.

Ouch.

Not only that, another fact to note is that manufacturing employment in the U.S. computer industry was actually lower in 2010 than it was in 1975.

So exactly how is more "innovation" going to produce millions of U.S. jobs if all of the high tech manufacturing continues to be shipped out of the United States?

Empty Promise #2: America Will "Out-Educate" The Rest Of The World And This Will Create More Jobs

For decades, U.S. presidents have promised that "education" is the key to competing with the rest of the world.

Okay, if suddenly every single person in the United States had an extra college degree, would that mean that more jobs would suddenly start popping into existence?

Of course not.

Right now, we can't produce enough nearly enough jobs for all of the college graduates that we already have.

Sadly, the truth is that we are already experiencing an epidemic of unemployment among our college graduates.  According to the Project on Student Debt, unemployment for new college graduates stood at 8.7 percent in 2009, which was way up from 5.8 percent in 2008.

But that is not the whole story.

Millions of college graduates that have been able to find jobs have ended up taking jobs that they didn't even need a college education for.  The "underemployment rate" among college graduates is absolutely exploding.

In 1992, there were just 5.1 million "underemployed" college graduates in the United States, but by 2008 there were 17 million "underemployed" college graduates in the United States.

Many of our brightest young minds are now flipping burgers, waiting tables and welcoming people to Wal-Mart.

In fact, in the United States today 317,000 waiters and waitresses have college degrees.

Oh, but certainly the answer is to get more Americans to go to college, right?

It certainly sounds good in a speech for a politician to say that "more education" is the answer, but in the end all it amounts to is a hollow promise.

Getting more Americans to go to college will not create any more jobs, but it will create more debt.  Americans now owe more than $884 billion on student loans, which is more than the total amount that Americans owe on their credit cards.

Empty Promise #3: America Will "Out-Build" The Rest Of The World And This Will Create More Jobs

So Barack Obama says that we are going to "out-build" the rest of the world?

Well, that certainly sounds good.

But what exactly does that mean?

Does it mean that we are going to quit shutting down our factories and tearing down our economic infrastructure?

After all, over 42,000 U.S. factories have closed down for good since 2001.

So is Obama going to do something to stop the flood of jobs and factories that are leaving the United States?

No, in fact he intends to "increase" trade with countries such as China and India.  That is going to mean that thousands more factories and millions more jobs are going to be "outsourced".

Well, what about building up infrastructure such as roads, bridges, power grids, dams and ports?

That is certainly a very good idea.

According to the American Society of Civil Engineers, we need to spend approximately $2.2 trillion on infrastructure repairs and upgrades just to bring our existing infrastructure up to "good condition".

So we desperately need some investment in that area.

But there is a big problem.

We are flat broke.

As will be discussed below, the U.S. government is flat broke.  Not only that, our state governments are flat broke and our local governments are flat broke.

So where will the trillions of dollars that we need for infrastructure come from?

Obama did not even come close to answering that question.

Empty Promise #4: America Will Become "The Best Place In The World To Do Business" And This Will Create More Jobs

It was incredible that Barack Obama could suggest that America is "the best place in the world to do business" with a straight face.

First of all, when you consider all forms of taxation, U.S. businesses face one of the most oppressive taxation regimes in the entire world.

But not only that, U.S. businesses also have to deal with one of the most horrific regulatory environments in the history of mankind.

As I have written about previously, the mountains of red tape that U.S. businesses have to wade through just continues to grow every single year.

The Federal Register is the main source of regulations for U.S. government agencies.  In 1936, the number of pages in the Federal Register was about 2,600.  Today, the Federal Register is over 80,000 pages long.

So is Barack Obama going to do anything about that?

Of course not.

In fact, Barack Obama and the Democrats have been really busy passing even more ridiculous regulations.

For example, the U.S. Food and Drug Administration is projecting that the food service industry will have to spend an additional 14 million hours every single year just to comply with new federal regulations that mandate that all vending machine operators and chain restaurants must label all products that they sell with a calorie count in a location visible to the consumer.

Empty Promise #5: Barack Obama Pledges To "Take Responsibility" For Our Deficit Spending

During Barack Obama's first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.

In fact, since Barack Obama took office, the U.S. government has gotten us into so much new debt that it breaks down to $10,429.64 for each of the 308,745,538 people counted by the 2010 U.S. census.

So is that "taking responsibility" for our deficit spending?

When Barack Obama took office, the U.S. national debt was 10.6 trillion dollars.

Today it is over 14 trillion dollars.

Government debt is absolutely out of control.  At this point, the U.S. national debt is increasing by roughly 4 billion dollars every single day.

If all of this debt is not brought under control, it will bring down the entire U.S. financial system.  According to a recent U.S. Treasury report to Congress, the U.S. national debt will reach 19.6 trillion dollars in 2015.

Can you imagine being 20 trillion dollars in debt?

That is 20,000,000,000,000 dollars.

So it would be really great if Barack Obama could do something about all of this debt, but based on his track record perhaps we should not be holding our breath.

Not that Obama is to blame for all of this.

The sad reality is that both parties have been involved in a massive debt orgy for decades and decades.  Now the day of reckoning is almost here and it is going to be incredibly painful.

We are in so much trouble that it is hard to even try to put it into words.  None of our politicians are telling us the whole truth.  We are headed for a complete and total disaster.

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  • http://www.osixs.org morpheus

    We can’t blame our problems on the President, Democrats or Republicans. I admit, that’s convenient and the easy thing to do. We have to be honest with ourselves. Most of the savvy people on this site know our country has been off track for a long long time. It’s just too hard to ignore it any longer.

    We are facing a future that is not pleasant. We are just as bad as the president because we the people aren’t doing anything either, except complaining. We need a new vision for America while we still have a choice.

    **** A New Vision for America ****

    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

    FIGHT THE CAUSE – NOT THE SYMPTOM
    We don’t have to live like this anymore. “Spread the News”

  • http://workingholdings.com clarence

    One of you guys blame Bush for all your troubles. He saved us from a different war.
    Yes that cost america to lose some money. BUT, not like what is going on now. We need to shut down all this BS how good America is so all
    those foreigh beggers quit coming here on false
    promises. They are duming down our nation and
    sucking our Social Security out from the people that worked for it. Obama admin just want to
    keep giving everything away that we worked for.
    Your right about taxing every company that send their goods overseas to build. Well its time the Americans calm down and take a lower
    paying job instead of having their nose in the air. Where do our kids start after college??? The unions here have kept on grabbing everything they can and added to chasing all these job overseas. They milked the cow dry and now they want the cow. Well
    they almost got it at General motors. and if
    they keep it up they will hold that sign up, “will work for food” . Part of that is whats happening now and The Government is not helping to stop it. Our Government people are so afraid of losing their big bucks and retirement cozy jobs..Pathetic

  • Jack Nichols

    It was a high school speech for student council. All stupid meaningless rubbish.

  • Peter From Australia

    More empty rhetoric from your president, the more he spends the more I will make on my gold and silver, go Obama

  • Robert

    All the cheerleading in the world (and he IS a great cheerleader)….is meaningless, because the GAME is played on the field…and Obama and his cronies (along with plenty of the opposing party) don’t have a CLUE where the field is. Only CONCRETE plans, execution, and expediency will be able to save this country….his speech included NONE of that.
    As much as I can’t stand Donald Trump or NY’s Mayor Bloomburg, it is becoming more and more obvious that someone with exceptional business acumen start running this country until we’ve dug ourselves out of the massive pit we’re in…and it is probably too late for even them.

  • spike

    The article contained a quite a few worthy facts and thoughts but the comments made me wish the author had a better class of reader.

  • http://toast.net Louis

    if OBAMA COULD GET THE GOLD ON THE STREETS OF HEAVEN, THEY WOULD SOLD FOR HIM SPENDING PLANS TO HIS CREDIT????? IN THE TREASURY OF HEAVEN THERE’S ON DOLLARS THERE, JUST IDEAS,CONCEPTS, AND PRINCIPLES.

  • William E. (Ed) Fox

    A plaque should be put on President Obama’s desk and on the desk of every Congressman with the following words: “Capital will be invested only where a reasonable profit can be expected.” Profits cannot be made on manufacturing facilities built in the U.S. due to high costs. The solution is to reduce costs. Health costs should be completely removed from corporations along with retirement costs, unemployment insurance and even the corporation’s share of social security and Medicare taxes could be taken care of by general revenues rather than by corporations. Removal of these costs should make it possible to produce goods in the U.S. This would amount to a subsidy at first but increased employment would make it a subsidy that keeps on giving indefinitely.

  • Shirley J

    Making promises that can’t be delivered – that’s what all politicians do. Like Jimmy Carter vs Ronald Reagan they find out if they don’t tell the voter what he/she want to hear they’ll throw them out of office. Americans didn’t want to hear from Carter that we were going to have to cut back on our out-of-control spending and reduce oil dependence, develop alternative energy. We know now why he put those solar panels on the White House. But no one is going to elect such a realistic (negative is how most see it) guy to lead the country. They want the one who sees the US as invincible, the City on the Hill. Uh-huh. Voters got to wake up to reality, then Presidents may have the courage to face the Tiger.

  • Obama Is A Failure And Rahm Sucks Too

    Russia will soon crush the US in every single category. Chicago and Philly Mfg Data is BS and holds no relevance in a service economy and the CPI is as blatant a lie as Obama is American.

  • A Dodgy Bloke

    I never watch the State of the Onion, it’s just a waste of time.

  • Kevin

    William E.(Ed)Fox

    Ahhh the race to the bottom.

    So the US should promote the worlds “General Welfare” by opening up our markets with Free Trade with slave labor competetion at the expense of our own citizens standard of living instead of promoting our “General Welfare” as mandated in the Preamble. It’s easy to compete with 50 cent/hr labor; pay your labor 49 cents/hr.

    So as technology increases which previously increased the standard of living we’re supposed lower that standard for world globalization?

    Maybe if we lowered tariffs in stages as the developing world increased the wages and hence standard of living of their respective populations thus “picking the world up” rather then “draging us down”. In the end they could afford to purchase our goods.

    Do you really advocate going one to one with slave labor? You cannot be serious.

  • Kevin

    William E.(Ed)Fox

    OBTW, doing the math just the Social Security contribution of 7% from a US manufacturing employer is roughly three times the total compensation for a Chinese industrial worker.

    You cannot compete with that without rampent unimaginable US poverty equal to the developing worlds rampent unimaginable poverty.

  • a. palmer jr.

    America is in a mess, we had to either choose Obama for President or McCain, some choice. Same thing goes for Congress, we have to choose the lesser of the two evils, but it’s still evil. We don’t have any good candidates anymore, we just have to choose the best of the bad. What has to be done, but won’t be is the same thing you have to do in your personal budget when you find out you can’t pay the bills; you bring more in or quit sending so much out. Congress, wanting re-elected will do neither. Every time they would try to cut anything somebody will get mad. Personally, I’d like to see some wasteful spending cut from the military budget and education. Doesn’t mean we still can’t defend the country and educate ourselves, just means we won’t waste so much money doing it! For America to have the money we used to have we’re going to have to re-establish our manufacturing base here at home and man if with our own taxpaying citizens first and quit paying illegals under the table to save money. When we go shopping we need to look for items made in the US before we consider those made abroad. It’s getting increasingly harder to do, however.

  • Simple Facts

    Paul, that is such a complete lie. Clinton stole from Social Security to “balance” the budget. Please learn your history properly and to count and pay attention before you make such ridiculous statements.

  • Lennie Pike

    mondobeyondo,

    Por favor accept what I am going to say to you with alegria – you can do it.

    I grew up in Brazil (Brasil), my wife is a Brasileira, I live there half of every year and soon will year round for all the reasons we speak of here (I will be back though if my help is needed for an armed defense of our Constitution) I speak Portuguese, so I think I should be the one to break the news to you – In Portuguese The World is spelled O Mundo. In some other Portuguese speaking countries of o mundo it may be spelled mondo but not in Brazil and I’m pretty sure also not in Portugal. There’s still Angola, Macau, and a few other Portuguese speaking countries where maybe it is mondo – hopefully I am wrong. Ate’ logo.

  • Robert

    We the people have to take matters into our own hands. There is only one office in this country that has a term limit on it. Every Senator should have ONE and only ONE term in office. And after he is sworn in Can Not receive any donations of any kind. Remove the influence of lobby groups. The same with the House of representatives. give them one four year term. And as with the senators No money of any kind after they are in office. Pay them well to do the right thing. Start off with incentives to bring back the jobs that were sent away. Give the manufacturing base a reason to stay here. Because if we don’t The Chinese will be sending there jobs here because our workforce will be making only 200$ a month.
    Education starts in the home. Right now we have generations of “Precious” families. NOt willing to teach there kids because they themselves are uneducated and ignorant. They have been put in this place because of the Entitlement culture the liberals love to preach. He who helps themselves will eventually make it.

  • Wilma

    Peter Rubleman,
    When Hitler was taking over in Germany and declaring that he would exterminate the jews, did your parents stay in Germany? Did they know their facts? In that case, they would have gone away from Germany if they had the money. Many people left without ANY money and no clothes but what was on their backs, depending on the kindness of strangers. On my block growing up we had two jewish families. One left in 1934. The other left after the war. The lady had a tatto on her arm from Auschwitz. We all have to make informed choices and decisions based on the facts as they are and not as you wish them to be. Its time to pull your head out of the sand, and stand up, and be a man.

  • http://www.roycobden.com/ Roy Cobden

    If actions speak louder than words Obama will still have to undertake some seriously large amounts of action to outweigh all the oratory.

  • mondobeyondo

    Unless Obama adopts a Vince Lombardi attitude (“Winning isn’t everything, it’s the only thing”), this country is in serious trouble. Play to win, don’t play not to lose.

    I know, he’s a community organizer turned politician. But Obumbler can do a lot better. We need a leader right now. Get your act together, Mr. President, or Sarah Palin (GASP!!) will be hired for your job 2 years from now. Heck, Dick Cheney may chase after your job as well. Don’t forget Ron Paul either.

    We’re in a Sputnik moment, soon to turn into a Sputtering moment.

    Gosh, I haven’t banged my head so hard since that Nirvana concert nearly 19 years ago.

  • Craig

    The most passionate part of his speech was when he mentioned how great muslims are, did no else notice this, I thought it was strange.

    Oil is the energy of yesterday he said, but what is he gonna do about the oil supply now because it’s still the energy of today, he conveniently left that out meanwhile we are still sending billions to the Saudis, billions that could access our abundant resources,creating jobs and keeping the wealth here, what an airbag.
    Lets make a million electric buggies and build solar plants, woohoo.

  • http://www.stock-trading-pro-system-course.com/ Swing Trader

    @Robert (January 26th, 2011 at 11:00 pm)
    “it is becoming more and more obvious that someone with exceptional business acumen start running this country until we’ve dug ourselves out of the massive pit we’re in”

    The US political system favors career minded politicians who function in 4yr cycles, not smart business people.

    Taking any difficult or unpopular steps will always fail the “Will this get me re-elected?” test, so they won’t happen.

  • The Beast

    There is nothing a barrage of nuclear bomb could not heal…..

  • mondobeyondo

    @ Javier

    American manufacturing used to pay a lot more. Detroit used to be a beautiful city, with people from all parts of the country searching for good paying jobs in the auto industry.

    Then globalization took over. American manufacturing became an oxymoron, and Detroit is now a garbage dump.

  • Bambi

    This is a vicious circle, but printing money would not solve it.
    Question is whether the population wants lower paying jobs and high cost goods, or no jobs and cheaper goods. The first case are the tariffs on imports and devaluation of dollar and the second is continuing is what we are doing now. The second case would lead to dollar collapse, high unemployment and social unrest. Not a new American Revolution though, since there is no clear target to revolt against. Just a social unrest, high crime and general poverty.
    This is a result of violating he Social Agreement, on which civilized society should be based.

  • Gibby

    Funny how few people here (including the article’s author) mentioned slashing the defense budget which is the ONLY place that meaningful cuts can take place that will effect the average man-on-the-street. Let’s start with, oh, about 90% and see what that does.

  • ricardomaago@yahoo.com

    i would to give my point of view,people of america should listen to your president,he knew what is good for your country as well for the people, there is great challenge around the world and he shoulde follow this the american people should also looked forward what the needs tohave better future.before your are the giant politicaly and economically but the world leader must point out the real giant in relationship.this time is armless revolution era bec one wrong mistake is already the end. now you should wake up and ask to yourself what is good for the country as well for the people .now i will give this message;let as remenber interdependence of the is not a fantacy but a fact and that the equal distribution of wealth and opportunities is not a matter choice for the rich country can make or break this the modern imperative international life.

  • http://www.truthmovementamerica.com/ European American

    I’m glad I didn’t vote in the last election. Wouldn’t have known which was the “lesser of the two evils”. And besides, voting for evil is a disorder, isn’t it?

  • http://TheDailyCrux Erick Tippett

    Dear American folks:

    Any six year old who has been taught the truth
    about American History (most of which has been
    whitewashed, distorted, or invalidated by ex-
    clusion) knows exactly why this man has been
    elected and why Adolph Hitler made the state-
    ment (according to a recent History Channel Documentary) “It is such a wonderful thing for
    governments that people don’t think!”

    He dared to mention something about education.
    This country will pay the price for not pro-
    ducing a nation of truly affluent and independent individuals over fifty years ago
    when the Russians launched Sputnik and our
    “educational systems” panicked pledging to do exactly as this man mouthed in that address! They made that pledge to my generation as we
    were entering high-school. It’s apparent what
    happened between 1959 and 2011. If it isn’t it
    should be and no manner of explanation would do any mind not understanding it any good at all!

    After all the years of racism, historical lying, and economic ignorance, the attempt to show to the world an egalitarian society with a black president bears a stench stultifying
    the senses! It will backfire in a way not
    seen in the history of this country. And it
    will be more than obvious and plainly apparent
    for the entire world to see. It will also be
    well deserved on the part of the brainwashed
    idiots who continue to elect and re-elect
    these chameleon weathercocks to public office causing the rest of us to suffer their conceit!

    EDT
    Chicago, Illinois

  • http://www.pathtoasia.com rhea

    Obama definitely showed he was clueless about the economy in his first 2 years by focusing on health care as his approach to fix the economy rather than bringing down the unemployment rate which would have helped on foreclosures and driving overall demand and taken a huge stress off the budget deficit. But jobs is only part of the equation. If the money I make cannot buy anything or is being eroded by inflation then thanks for nothing. Given the rising cost of food and energy this is the next shoe to drop.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • Kevin

    mondobeyondo

    Spot on regarding globalization. Pre “Free Trade” with slave labor nations a good percentage of the problens we’re debating didn’t exist.

    Globalization is the root cause with a somewhat close second being the abandonment of Glass Stegall.

  • Frank

    Some of the comments questioned the veracity of the points made by the author. I say, “Open your eyes to reality”. Others commented that no solutions to the problems were offered by the author. Well, first you have to face the reality before you can do anything about it & most Americans STILL keep re-electing the same politicians that got us into this mess because they (the electorate) still have their head in the ground! Solutions ARE being put forward if only you open your eyes & ears. Here are some I’ve come across:
    1) ELIMINATE all Federal Departments in areas not specifically mandated to the Federal Government by the Constitution (such as the Department of Education)
    2) FREEZE all other Federal Department at their 2007 levels
    3) PHASE OUT Social Security & Medicare (there are several reasonable plans to do this without “cheating” those who have paid in)
    4) ELIMINATE Federal subsidies to Medicaid (leave it up to the states if they want to continue that idea)
    5) REPEAL ObamaCare
    6) Pull out the 60,000 soldiers we have still in Europe (a relic of the Cold War) & close many unnecessary bases we have in over 100 countries around the world
    7) Reduce taxes & regulations on businesses
    8) END the IRS & put in place a simple Fair Tax
    9) PHASE OUT the Federal Reserve & return to Congress “coining” (gold/silver) money again. Keep Federal Reserve Notes to pay down the debt with & when it is paid off, end them
    10) Start to not only balance the Federal Budget, but also show the world we are serious about paying off our debt by beginning to pay back AT LEAST $100 BILLION/year.

    There are some ideas that WE CAN DO NOW ASAP to head off an economic financial meltdown that we will surely run into “soon” if we continue to deny the reality of its approach.

  • http://douglassagency.com THETRUTH2U

    LETS NOT FOOL OURSELVES!! We need OUR, USA, OIL and NATURAL GAS.!! I have spent countless hours in the outdoors, both land,lakes, and streams…VERY FEW people are OUTDOORS!!!. While wishing for a perfect environment, we are all going broke with every higher fuel and heating costs, ever higher and higher taxes. ever higher health care premiums,deductibles and copays. While Obama seeks a environmental utopia, we are sending Billions of Our Dollars, to governments, that seek to destroy our way of life….. LISTEN AMERICA!, Do you want to ride Camels?? Do you want to live in Tents??. Lets get our own resources, Now. Before it’s too late!

  • Lotta D

    I thought it was interesting the way he casually stated that he planned to completely reorganize the government!
    What it isn’t broken enough already?
    Based on how he has ‘fixed’ healthcare I’m not sure the US can afford him ‘fixing’ the government!

  • Skipperbob

    Obama fails the test of honesty. His SOTU address could have been one sentence: The state of the union sucks, and we better start doing something about it now! No, make that yesterday!

  • Gary2

    Obama talks a good game. He duped many into voting for him but I have yet to see that big change we need. I am frankly tired of trying to defend him. We need a third party that represents the people.

  • edwardo

    let me see

    #5 is not up to Obama, it is up to US! If we keep buying the snake oil, he (and all other politicians) will keep selling it. Are you ready to vote them out when they sell us castles in the air, with no talk of how the foundations will be built? It doesn’t matter how pretty the dream is if we can’t or won’t build it.

    Also, if we can solve #4 then most of the rest will take care of them selves.

  • Greum

    Obama is the worst thing for USA, and always has been.

    * He supports Muslims but doesn’t support American Oil.
    * He allows China and the Far East to manufacture almost everything for the US markets with little or no import tax.
    * He has fought to keep the southern border of this country weakened and allow infiltration of Hispanics and Latinos who take all the lower paid jobs and send money south without paying taxes.
    * He has increased the national deficit more than any other administration not only for the current period of time but for future generations too.
    * He has admitted to being a communist, and his wife has admitted that she hates the United States of America.

    Why did you let this radical into such a high position, and why is he still there?

  • kkflash

    Kevin:
    You entirely missed the point of Mr. Fox’s contribution: Capital will not be invested where it won’t make a profit. Goods (& to a lesser extent services) will be purchased where they are least costly for the value received. The lowest profitable market price will be set by the producer with the lowest cost. When labor cost represents the largest portion of the cost to produce something, cutting labor cost by 90% with foreign manufacturing is simply smart business. Face it, the manufacturing labor market, like most things in the 21st century, is global. Our unskilled workers are competing for jobs with China, Korea and the rest of the world, like it or not.

    Adding tariffs to foreign manufactured goods in order to make US manufacturing more competitive simply makes the selling price of those goods higher in the USA than what the rest of the world is paying. So, is our standard of living higher because we pay a higher price to own the same items? And how does your proposed tariff solution help us sell our US-manufactured goods outside the USA?

    Getting the rest of the world to pay the USA’s union-inflated wages to their workers is not going to happen, as long as those foreign workers are satisfied with their pay and available in sufficient numbers to meet demand.

  • James

    I still can’t figure out where all the people of the “broke” U.S. are getting the money to buy stuff from China, and make her think that we can shore up her economy forever. Sooner or later the money isn’t going to be there and China will wonder what happened.

  • David S

    The answers are not complicated, but rather quite simple. Only the government makes things complicated by trying to make things work that have NEVER worked!

    THE SIMPLE ANSWERS ARE:
    Reduce the Federal government to less than 50% of its current size – with less than 25% reduction to military and national security departments.

    Over half of the employees in the administrative departments would never be missed and contribute NOTHING to this country except a huge liability! Use any federal holiday as an example of their uselessness!

    Then, remove the government from interferring with ANY business unless it’s illegal, harmful or dishonest! Otherwise, leave us alone so we can make, sell and enjoy American made products again!

    Finally, abolish 99% of the IRS and replace it with a one page form that has ONE flat tax rate with NO other taxes. Get out of my retirement and get out of my health!

  • mondobeyondo

    OK folks, let’s start cutting!!

    Hmmm, what first? NASA. Yeah, we don’t need a space agency. Total waste of money. (ignoring all the vast achievements in science and technology that are a result of the space program…)

    Department of Agriculture? People gotta eat, so better leave that agency alone.

    The military? (all branches) – Maybe trim a little here and there, but we need that also, unless you like the idea of being invaded by Sweden.

    TSA, Dep’t. of Homeland Security, Dept. of Health and Human Services? The FAA? Keep HHS. Gotta stay healthy! Aviation has been a train wreck (ha!) ever since airlines were de-regulated. Flying is not fun anymore.

    And then you have the Holy Cows: Social Security, Medicare and Medicaid. Somehow or other, one, both or all three will have to be sacrificed, if this country has a glimmer of hope of fiscal solvency.

    It’s bad, very bad. The sheeple don’t know how baaaaaa-d it is. They will know soon enough, but by then it will be too late. Much wool will be sheared.

  • George

    My view of globalization has always been that the end result would be a “harmonization” of wage rates throughout the world. If 1 million people in the developed world earn $20/hr and 5 million people in the undeveloped world earn $2/hr then the average will be $5.00!! This would be for the same job, like tightening a bolt on a car!! Our salvation is that the “harmonization” will not take place overnight giving some of us who have the ability to adjust to higher paying enterprises like designing IPODs, creating our own internet bussinesses, producing food, etc! The Q remains what will the over 50% of the students that don’t even graduate from our city high schools do?? Can Dell train them to take their customer service calls? Lotsa Luck!!

  • mondobeyondo

    Oh, I totally forgot about the Department of Energy! (Yes, it’s a legitimate government agency.)

    Not sure exactly what it does, but apparently not a whole lot. But if *I* were President, I’d have an idea or two…

    Instigate a new federal program – let’s call it “Fit, Not Fat! The Department of Energy Cares About You!” (Modeled after Michelle Obama’s fitness program, whatever it’s called.) Nice and catchy!

    Have people ride stationary bikes, at their local gyms, connected to little electric generators hooked up to the power company. No hamburgers or french fries during your workout, lettuce and tomatoes only.

    It would provide much needed electricity, and you will be healthier in the process.

  • mondobeyondo

    We have gas. We have lots of gas. No, not THAT kind of gas! Get your minds out of the gutter!!

    We have a Strategic Petroleum Reserve, which is supposed to be used for emergencies. Apparently our current oil crisis is not an emergency, so it isn’t being used. There’s plenty of oil in Alaska, and in the Gulf of Mexico, even after the tragedy there last year.

    (Translation: We have our own oil supply, but we’re saving it for a major national crisis, like when Hurricane Caroline slams into Nebraska next year. It’s more $ PROFITABLE $ for TPTB, for us to continue using Middle Eastern oil. The oil barons get our money,, and we can continue our indulgent American Idol and cellphone lifestyle. Thanks, Dubai! We love you!)

  • http://www,equi-stimlegsaver.com Gary DesRoches

    If someone does not try to organize the people and demand that term limits be implimented immediatley there will never be the will to solve the problems. Everyone makes decisions that will get the re-elected. That is human nature at work.

  • liberranter

    Only 5 reasons? Then again, it would take more time and server space than a reasonable person could commit to list all of the many, many other reasons one could find if one put any effort into it.

  • kiku

    Ban all ex employees of Wall Streets and Mega Banks from joining the Govt.They have this mind set that if Wall street is booming Main street does not matter and all mfg jobs be damned.The Congress is in their pocket so POTUS from any party does not matter.They are all talking any sensible idea to death.Dollar is dying because this Mantra of Tax Cut has been heard in all seasons.Booming Economy, cut taxes.Depression, cut taxes.All big businesses when in trouble need bailout or sky will fall.Old people get benefits because their vote bank is very important.Very young and kids do not count for anything except that they can be expendable in unneccessary wars against helpless people around the world.We will steal their property because we have big guns and they do not have.No wonder Americans are now not loved anywhere.We keep electing crooks that destroy and exploit the weak at home and abroad.

  • realityrules

    Watch what they do, and not what they say.

    Stalin, Mao, Pol Pot, Hitler, Castro, and other demagogues also made empty promises…

  • JAZ

    It pains me to see a once mighty nation tear itself apart from the inside out. You have let your media polorize you so much against one another , and become so involved in the left vs right smokescreen that i think alot of you dont realize (present company excluded)that your Govt’s (republican or democrat) have completely screwed you all for decades. It’s not born from Govt incompetence its carefully orchestrated and deliberate. The global banks and their puppets namely your Govt keep the general public ignorant for a very good reason. I think its time you at least found some common ground between left & right and unite to destroy your Federal Reserve which is the source of all your amazing country’s woes. Because most of your elected officials certainly wont help you. People like Ron Paul need more support from the American people to take down these powers that control America from behind the stage. Make your poloticians more accountable , publically name and shame injustices. Us Australians are one of your closest allies and we can already see the property bubbles and economic manipulation that you’ve suffered begin here. Your actions will hopefully show us how we can stop this from happening here.

  • http://www.planorperish.com/ Gutter Economist

    Obama’s State of the Union:

    “Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again.”

    Herbert Hoover, May 1st 1930, U.S. Chamber of Commerce Meeting:

    “While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover.”

    Obama’s State of the Union:

    “Thanks to the tax cuts we passed, Americans’ paychecks are a little bigger today. Every business can write off the full cost of the new investments they make this year. These steps, taken by Democrats and Republicans, will grow the economy and add to the more than one million private sector jobs created last year.”

    Herbert Hoover, October 22, 1932, campaign speech in Detroit:

    “It can be demonstrated that the tide has turned and that the gigantic forces of depression are today in retreat. Our measures and policies have demonstrated their effectiveness. They have preserved the American people from certain chaos. They have preserved a final fortress of stability in the world.”

    Obama’s State of the Union:

    “But now that the worst of the recession is over…”

    Herbert Hoover, June 1930, to a delegation requesting a public works project:

    “Gentlemen, you have come sixty days too late. The depression is over.”

    Obama’s State of the Union:

    “The steps we’ve taken over the last two years may have broken the back of this recession…”

    Herbert Hoover, State of the Union, December 6, 1932:

    “The unprecedented emergency measures enacted and policies adopted undoubtedly saved the country from economic disaster…”

  • EC-Reader

    Anti-crisis measure sole – The Modern Money Mechanics to be rated JUNK, which is the way as it actually is, and a complete analysis to be made of how to proceed.

  • impeachRonPaul

    Jaz:

    Ron Paul is a religous right bigot that wants to take freedom from the people and give it to the goverment. He advocates a church state with little freedom for the people. Id rather live in a failed economny than a country with scum bags like Ron Paul in charge. Ron Paul is evil.

  • http://dierevnisei.com/ The Children Blogger

    The President swored to make the clean energy the profitable energy in U.S. in 2009. Today, this promise will be said again. Hopefully, this time he will do something to achieve his target.

  • Broadaxe

    Kiku has it right.

    If you knew how many Goldman, Sachs ‘alumni’ are in the Obama Administration, it would knock your socks off.

    Broadaxe

  • mondobeyondo

    “By their deeds, you shall know them”…

    No truer words ever spoken.

    Screw the speeches, and the beautiful rhetoric.

    Pay attention to what they DO!!!

  • John S

    About that iPhone. The outside of the plastic case is painted. It is IMPOSSIBLE to do that coating in the U.S. due to EPA regulations. Even if Apple could get $1 million per phone, it’s impossible to build them here.

    Basically, we need to determine if these millions of governement regulations are necessary. If they are important, then ban the importation any product that does not conform to EVERY regulation. EPA, OSHA, FDA, FCC, EEOC… all of them. If people still want $6 shoes, then these regulations are not that important. So close all of these agencies.

  • Kevin

    Kkflash

    If the US with the largest market on the earth did not drop tariffs (we had them for decades and things were just fine) industry could not have taken advantage of slave wages in the developing world. The competetive advantage is negated with the tariff which is it’s purpose.

    Europe is in the same boat. Why nations with such a strong labor voting block would sign on to a policy that drains their wealth shows just how strong the forces are promoting globalization. Omnipotent is the words for it.

    Inflated wages in the US and Europe? Our goods sold in Europe and theirs sold here. Both labor forces had a pretty good standard of living. Then 2.5 billion ultra poor people were invited to the party without an entrance fee.

    How do you compete with 50 cents/hr? You increase productivity to offset it (impossible) or lower your standard of living to their level.

    Why did the US not survive but prosper when we had tariffs?

  • Kevin

    Kkflash

    One thing I would like to clarify regarding tariffs. It’s too late now to put them back up. My point is it should never have happened in the first place. Tariffs could have been dropped in stages as the standard of living increased in the developing world.

    Globalization was not done with the blessing of the body politic. While industry fled the developed world cheap debt was increased through the creation of an increasing money supply. That hid the dark fact that wealth was leaving the developed world and was transfering to the developing world. The term “service economy” was created so the masses would not be upset. If the people in the US and Europe felt the decline in real time a political halt would have occured. Now they will feel the fall all at once because the debt engine does not have longevity; wealth creating manufacturing does but that for practical purposes has eviscerate.

    All that has been achieved is a race to the bottom in the developed world.

  • Appreciative

    I am disappointed in the replys given to the article in that most of them are missing the author’s point–namely an explanation of five areas where Obama’s speech was deficient. Most of the readers who left replys seemed to think that the point was to provide solutions to the economic problems presented. I think that the author made his point quite well and I appreciate the honest evaluation that was in line with the title of the article.

  • Davidm

    I think Obama is right. All we need is to just borrow and spend another trillion dollars to let a few people fix a few more roads. That will fix everything. I am so glad we have such a brilliant President.

  • Madame Butterfly

    Where is Ross Perot when you need him?

  • Jolene S

    I have to agree with David S. He hit the nail on the head when he talks about how we can cut federal agencies down to size, this will certainly bring the government pending down, and I like to see 3/4 of the goverment live on wages that we have to live on. Another thing, I don’t think we should be going into space, with the money they spend on space we could bring down the debt we are in. These words are from David S. and I have to agree with them it’s worth sharing again:
    Then, remove the government from interferring with ANY business unless it’s illegal, harmful or dishonest! Otherwise, leave us alone so we can make, sell and enjoy American made products again!

    Finally, abolish 99% of the IRS and replace it with a one page form that has ONE flat tax rate with NO other taxes. Get out of my retirement and get out of my health!
    I agree with the one flat tax rate; thank David S. for sharing your opion with us, I think you did a good job at explaining how the U. S. can save money. Glad that I read these, because it’s true, we don’t need any more spending and we need more jobs for the American people.

  • http://www.marktraina.webs.com Mark N Starla Traina

    This is the TITLE of my new BOOK,
    “A PRESIDENT who MISLEADS U.S. and a CONGRESS to WEAK to PRORECT U.S. – The WORST of BOTH WORLDS!” (TRAINAISM)

  • http://www.marktraina.webs.com Mark N Starla Traina

    “PRESIDENT has brought all of U.S. together in CHAOS!” (TRAINAISM)

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