- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
LETTER TO THE EDITOR: Obama cares about one job - his own
Just how deep is the hole we’re in? The U.S. stock market has just lost about $3 trillion in equity. Our anemic economy grew at an annual rate of less than 1 percent in 2011’s first six months. The dollar index - a measure of the dollar’s value against that of its major trading partners - is near its all-time low.
After the U.S. federal government has posted three consecutive years of trillion-dollar-plus deficits, Standard & Poor’s has downgraded long-term American debt and Moody’s has placed it on negative watch.
Almost 15 million Americans are out of work; another 10 million have either given up or are underemployed, and the average period of unemployment stands at nine months, the highest since record-keeping began in 1948. An all-time high of 46 million Americans receive food stamps, and the official poverty rate stands at 15.7 percent, up from 13.2 percent in 2008.
More than 3.7 million homes sit unsold on the market, 850,000 are in some stage of foreclosure, and mortgages on about 6 million residential properties are delinquent but have not as yet entered the foreclosure process. More than half of all American homeowners with mortgages, moreover, say they are underwater - owing more on their mortgages than their properties are worth.
Consumer confidence is near its record low of November 2008. Investor confidence has dropped 24 points in the past three months to its lowest level in two years. Just 16 percent of us believe America is headed in the right direction.
What does our president do about all of this? After blaming others - George W. Bush, Wall Street, the Tea Party, the Japanese tsunami, the “Arab Spring,” bad weather, the rating agencies, his dog - seeing his frivolous budget rejected 97-0 in the Senate his party controls, punting responsibility for developing a debt-reduction plan to Congress and sternly lecturing Congress to “eat your peas,” he has once again pivoted to the vital jobs issue.
As a sign that this time he’s really, really serious, the president’s been flying all over the country on his taxpayer-funded corporate jet (“Fundraiser One”) to raise money at up to $38,500 a plate to preserve the one job he really cares about: his own.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
TWT Video Picks
Taxpayers must pay the freight for over-budget train projects
Get Breaking Alerts
- Kim Jong-un calls for execution of 33 Christians
- Rand Paul wins 2014 CPAC straw poll, Ted Cruz finishes a distant second
- U.S. deploys 12 F-16 fighter jets to Poland as exercise in response to Ukraine situation
- High schooler suing parents for money shot down by judge
- Senate Democrats, Republicans spar over restoring unemployment benefits
- Six Senate seats could hinge on Keystone pipeline
- Russias Putin nominated for Nobel Peace Prize
- Italy outraged over U.S. gun dealer's 'David' ad
- CURL: The modern GOP really is Reagan's 'Big Tent' party
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
Recent Letters to the Editor
- LETTER TO THE EDITOR: Time for feckless president to show resolve
- LETTER TO THE EDITOR: Obama reserves 'Chicago way' for GOP
- LETTER TO THE EDITOR: Public education would wither in free market
- LETTER TO THE EDITOR: Turkey not committed to Cyprus peace
- LETTER TO THE EDITOR: Spoiled-kid culture creates greedy adults