There’s a lot of talk about the rapidly approaching “fiscal cliff,” but what does it all really mean? Tax hikes? More national debt? Plunging stocks? Even higher unemployment?
Unfortunately, all of the above if Congress and the President don’t act soon.
- The average family will pay an additional $3,500 in income taxes. Those making over $100,000 will lose over $6,000 per year.
- The tax increases could be the steepest to hit Americans in 60 years.
- The unemployment rate could reach 9.1 percent.
- Small businesses will have to pay higher taxes causing them to spend less and delay hiring.
- Up to 10 million jobs will be lost.
- The Economy is the number one issue among voters.
- Romney remains ahead on economy in post-debate polls by overwhelming margins.
- Obamacare is set to cost Americans $500 billion in new taxes.
- Obama’s policies are set to increase national debt 47 percent to $21.7 trillion by 2022.
- Under Obama, we’ve had the longest stretch ofunemployment above 8 percent since the Great Depression.
President Obama has once again proven his gross inability to handle the real economic issues affecting our families and businesses…. read more.
- 53 percent of graduates under 25 are either unemployed or underemployed.
- Youth unemployment has been above 17 percent for more than two years.
- Since Obama took office, the average cost of in-state tuition at a four year college has risen from $6,585 to $8,244, a 25 percent increase.
- Due to Obamacare, youth healthcare costs set to rise 45 percent.
- Reagan’s policies created more than twice as many jobs in four years than Obama’s policies have created.
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With the first presidential debate just hours away and the mainstream media spending its time talking about style, conservatives need to keep our eyes on the substance. Obama has something to try to hide—his record. While the pundits will pick apart every word of Romney’s performance, we must talk up the realities of Obama’s failed leadership and the reform necessary to make America strong again. It’s time for all of us to ensure people see through the Obama smoke screen.
Just like we saw during the Democrat National Convention last month, Obama’s approach will likely be to blame, punt and twist his responses hoping to play upon the ignorance of the voting public. He’ll say a lot of things but you can remind people you know about what he won’t say:
- The real unemployment rate is 15% with young people unemployed at levels not seen in generations.
- With his current agenda and proposed second-term spending, Obama will increase taxes on middle class families by thousands of dollars each year.
- Household income has dropped by more than $4000 per year under Obama.
- Gas prices are more than double from when he took office.
- The labor participation rate is at an all-time low and male employment has fallen to its lowest point on record.
- Obamacare is expected to increase healthcare costs for American families by more than $3000.
- Healthcare costs for young adults have already increased by 45 percent, affecting students and their future employers.
- The National Debt has increased faster under Obama than under any president in history to a staggering $16 trillion.
- Obama spent more than $1 billion of taxpayer money on failed companies like Solyndra instead of increasing domestic energy sources through initiatives like the Keystone XL Pipeline.
- Despite all the claims of shovel-ready jobs, Obama’s $787 billion stimulus has failed to put Americans back to work.
Through a rambling narrative of twisted facts, Obama will attempt to reshape history. But we’re living it. He wants Americans to forget the effects of his record. But we’re daily faced with the damage. Obama may choose to ignore them, but Americans know the facts about taxes, jobs, debt, the deficit and the danger of Obamacare. And we won’t forget.
The United States economy and the very foundations of our society will continue to weaken unless we keep economic freedom a reality—not just a political talking point.- - Ned Ryun, President and CEO of American Majority Action
- The U.S. was ranked 2nd in 2000 in economic freedom. We now rank 18th.
- The U.S. lags behind Finland and Denmark, two European welfare states. It is also behind Qatar, the United Arab Emirates, and Canada.
- Economic freedom is harmed by government interfering with personal choice through regulations, high taxes, and massive government spending like we have seen during the Obama Administration.
- 54% of Americans support reforming government regulation if it means creating more jobs.
- Countries with higher economic freedom have a higher average life expectancy, lower infant mortality, higher rates of life satisfaction, and more political rights and civil liberties.
“The 2012 Economic Freedom of the World report released this week shows that America is losing ground in one of her most defining cornerstones: economic liberty. President Obama’s vision of a more dependent society can be clearly seen in this damning assessment of the state of American freedom. The U.S. has fallen out of the top ten for the first time in history. Plummeting eight places since last year, we now rank below European welfare states like Denmark and Finland, as well as our Canadian neighbors, and even Middle Eastern nations like Qatar, and the United Arab Emirates…” READ MORE.
- US credit rating problems stem from reckless spending and the growing ratio of debt to GDP.
- The credit downgrade is widely due to the belief that the government printing more money will hurt the U.S. economy by raising the price of commodities, including oil, and possibly spurring inflation.
- U.S. federal debt is now 104 percent of GDP and may soon rise to 110 percent. The nation now owes more than it can produce in a year.
- The “big three” credit rating agencies released negative predictions about following Egan-Jones in downgrading the U.S. In 2011, all of the big three downgraded the U.S. credit rating after Egan-Jones’s downgrade.
“Thanks to Obama’s reckless spending, the U.S. credit rating has been slashed for the second time in two years. The rating firm Egan-Jones cites our $16 trillion debt, the ratio of debt to GDP, and new plans to print more money as the impetus behind the downgrade from “AA” to “AA-.” Obama may love to make history, but this type of history is killing jobs and hurting our families.” READ MORE.
1.95 – The average cost of a gallon of gas on the day Obama was inaugurated
8 – The number of months since Obama met with his high–powered Jobs Council
12 – Number of now bankrupt companies that received a total of more than $1 billion in green energy grants from the Obama Administration
24 – The percentage increase in federal spending since President Obama took office
104 – The number of rounds of golf played by the President since taking office
16,500 – Number of new IRS agents hired by the government to enforce Obamacare taxes and penalties
Real solutions for the economic crisis in America will not come from a money printing spree. Now in our 43rd month of 8 percent or higher unemployment, we are a nation that needs leaders ready to make pro-growth, pro-business decisions.- Ned Ryun, President and CEO of American Majority Action