Democrats Demolish Economy
Trying to look like crusaders for the common American, democrats are demolishing the economy; business-by-business, increasing unemployment, widening the trade deficit and burying generations to come with big government debt.
Why are democrats passing legislation that they know will destroy the economy? To get re-elected.
They are hoping that people will look at their reasons for enacting legislation, versus the actual results. For instance, they portray themselves as modern-day Robin Hoods, robbing from the rich --- unfortunately that money isn't going to the poor. Instead, it's going overseas to other countries through a widening trade deficit.
But that's OK, right? Afterall, they're sticking it to the big guys - the auto and credit industries.
Hold on, let's look at what the real results are:
- Obama's 'cash for clunkers' program cost tax payers $3 billion. Did it help automakers? Well, yeah... JAPANESE automakers. The latest study shows Obama's program mostly benefited Japan's Big 3 automakers: Toyota, Honda and Nissan. 41% of people bought a Japanese auto, whereas only 39% bought a new American-made car. And there's more bad news. U.S. automakers were stuck with the most trade-ins (85%), whereas Japan had to deal with only 8%. The Japanese had more sales and less trade-ins to deal with. Now America has a surplus of clunkers that we taxpayers must foot the bill for.
- Recent legislation will deny overdraft protection for millions of Americans. Don't be surprised the next time you overdraft your account if you end up with a bounced payment (and fees) instead of your bank lending you an overdraft. You can thank democrats for this new credit denial, due to their ban on the ability for banks to charge overdraft fees. Without being able to charge fees for their service, your bank may stop offering the service altogether.
- The trade deficit jumped 18.2% in September to $36.5 billion. That was the largest deficit since January and more than the $31.7 billion imbalance economists had expected. How are democrats to blame for this? By driving business out of the U.S. Due to high taxes and strict government regulations, it doesn't pay to operate a business in the US. Ever wonder why; when you call a company for customer support, you are answered by a foreign person? That's because it costs too much in the US, not because the company is overly greedy. If the company operated in the US, it would have to charge you higher rates to offset the costs. And what would be your response to that cost increase? You'd purchase from a cheaper source, which would be from an overseas company. So to compete against cheaper, overseas companies, U.S. businesses are being driven overseas by democrats who raise their taxes and enact more government regulation.
What will democrats destroy next? It appears the answer to that question is the credit industry. With all the laws they've passed already, credit is becoming scarce. Banks are very reluctant to lend money, and credit card companies are stricter on who will get unsecured lines of credit. Why? Because democrats won't let them offset losses by varying rates and fees on the accounts that pose high risks. Bad credit people are already finding it difficult to obtain credit.
Ah, what if the credit industry is destroyed... would that be so bad? Let's see... without credit, the housing ecomony would be tons worse than it is now, and only the rich; who have cash on hand, can get new cars. That's only two impacts, get the picture? And don't think that democrats won't drive the credit industry to ruin. Some credit companies are already having to use overseas support services in order to cut costs.
Let your legislatures know that big government costs big bucks. For every new law passed, a whole new set of regulations must be published, administered and managed. In short, it costs more tax dollars. And the more it costs businesses to operate in the US, the less profitable it is to do so. Just remember: when businesses go overseas, so do the jobs. With less jobs, there's less tax revenue.
And that, fellow Americans, explains why unemployment keeps rising as well as taxes.
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