President Obama pledged to “cut the deficit we inherited by half the end of my first term in office.” America just passed $16 trillion in debt.
The Congressional Budget Office reports the government posted a $1.1 trillion deficit for four years in a row. Government foreign indebtedness grew by 72.3 percent during Obama’s term to $5.3 trillion. If we taxed everyone earning over $200,000 at 100 percent, it would not scratch the amount we owe.
Obamacare will levy a 3.8 percent Medicare tax on investment income for couples making $250,000 or individuals making $200,000 a year effective Jan. 1. So, if you are retired, own a small business, restaurant, or even a small food cart you are going to pay more taxes.
People on federal disability increased to 8.7 million, according to the Social Security Administration, which exceeds the population of 39 states. Add to this unemployment numbers, federal and state welfare increasing 19 percent, record numbers of women and minorities unemployed and more families losing their homes and we have a national mess created by this administration. I cannot take anymore “hope and change.”