Fact: If Barack Obama is reelected we are headed into a severe recession during 2013!

James Cessna

From the reading and research I have done, I have concluded If Barack Obama is reelected, we are headed into a severe recession during 2013.

The reason I say this is because a number of professional economists have made the conclusive argument that unless the economic policies of Obama and the Democrats are reversed and changed, the result of Obama's policies will be another severe recession in 2013.

Unfortunately, this new recession will make the results of the future Obama years look very similar to what our nation experienced during the 1930s. That should come as a surprise to anyone, because Obama is clearly modeling “his administration and its policies and political strategies on the Franklin Roosevelt years”.

There are several economic factors that wil easily lead to a recession in 2013 if Obama is relected.

First, already included in our current laws are increases in the top tax rates of virtually every major federal tax that most individuals and corporations will pay. This is because the tax increases of Obamacare become effective in 2013, and Obama has refused to renew the Bush tax cuts when they expire next year for the nation’s small businesses, job creators and investors.

Unfortunately for all of us, if the Bush tax cuts expire “just for singles making over $200,000 per year, and couples making over $250,000, in 2013 the top two income tax rates will jump nearly 20%. Also, the capital gains tax rate will soar by nearly 60%, the tax on corporate dividends will nearly triple, and the Medicare payroll tax will leap by 62% for almost all taxpayers.”

These new taxes on the American workers will be in addition to the U.S. corporate income tax rate, which remains the highest in the industrialized world. Yet under President Obama, there is no new tax relief in sight for these increases. “Instead, he continually proposes still further tax increases on American business. Indeed, President Obama is already campaigning all over America for still further tax increases, on top if his 2013 increases." These new taxes will further serve to drive American jobs overseas.

A second significant cause for a major recession in 2013 is the “blizzard” of new regulatory costs and barriers to new employment that will be imposed by the Obama Administration. For example, "the EPA is effectively imposing 'cap and trade' by administrative regulation under the Clean Air Act, which alloes them to do so without the need for Congressional approval."

The third and final cause for this coming recession is the fact that "the EPA is joining with the Interior Department to prevent the private sector from exploring and engaging in traditional American energy production." Traditional energy production is an area of U.S. economic activity that typically and reliably creates hundreds of thousands of good, highly-skilled, well-paying jobs.. Also, and this is a double-whammy, the new regulatory burdens from Dodd-Frank are scheduled to become effective, as are the regulatory burdens of Obamacare, including the onerous employer mandate, "which is already discouraging many small business owners from hiring new people and creating millions of new jobs."

Here is are two wonderful summaries of the state of our economy and a discussion of the aftermath of earlier recessions our nation has had to recover from.

"The history of America’s recessions is provided at the website of the National Bureau of Economic Research (NBER). Before this last recession, since the Great Depression recessions in America have lasted an average of 10 months, with the longest previously lasting 16 months. Yet here we are 47 months after the last recession started, and we still have no real recovery.

Instead, unemployment has been stuck at 9% or above for the longest period since the Great Depression. Unemployment for blacks has remained over 15% for over 2 years, with Hispanic unemployment stuck well into double digits over that time as well. Teenage unemployment has persisted at nearly 25%, with black teenage unemployment still nearly 40%."

"No one has a crystal ball to predict exactly when the next recession will come or its precise impact. On average they occur every 5 years, and 2013 would be the fifth year since the 2008 recession. We need to be prepared for the inevitable."

Source #1: http://www.homesolutionsinvestments.com/blog/?p=147

Source #2: http://www.forbes.com/sites/peterfer...r-obamanomics/

matthew8

Fact is really pushing it.

James Cessna

matthew8 wrote: »

Fact is really pushing it.

If you have alternative evidence I would love to see it.

Please refute my conclusions one by one (there are three) and then we can have a gentlemanly debate.

Here is the condition our economy is presently in. Things do not look good for Barack Obama.

"Instead, unemployment has been stuck at 9% or above for the longest period since the Great Depression. Unemployment for blacks has remained over 15% for over 2 years, with Hispanic unemployment stuck well into double digits over that time as well. Teenage unemployment has persisted at nearly 25%, with black teenage unemployment still nearly 40%."

RichieC

It's opinion, not fact. Are you simply moving your database of past threads on other forums you were banned from to here, James? sure looks like it to me.

Ellian

James Cessna wrote: »

"Instead, unemployment has been stuck at 9% or above "

Not an entirely accurate statement according to the US Department of Labor.

http://data.bls.gov/timeseries/LNS14000000

K-9

RichieC wrote: »

It's opinion, not fact. Are you simply moving your database of past threads on other forums you were banned from to here, James? sure looks like it to me.

Indeed and against the charter, an opinion on some future event, if it happens, is not fact