By now it’s obvious that most major media polls on the election are heavily skewed to show Obama winning.
Despite the trickery, the numbers being reported in the media have investors on edge, and with good reason. A second Obama term would undoubtedly be a continuation of the economic malaise we’ve been in, and more likely would deepen the slow spiral into an outright nosedive.
America’s credit rating has already taken a hit, but with growing debt, swelling government entitlement programs, new taxes coming on line and no budget plan, the Democrats are driving the country straight off a cliff while blaming Republicans for not taking the wheel.
According to the Associated Press, investment firms have begun emailing their clients to brace for the likely gridlock if Obama wins. The way AP frames it, Republicans are expected to play along with Democrats to keep the country from going over the “fiscal cliff” as $600 billion in tax increases and “spending cuts” kick in.
The more likely scenario is emboldened Democrats will want ever more outrageous tax and spending hikes, and either the Republicans in the House will continue to be the only roadblock in Washington or they’ll roll over into full RINO mode. Either path would virtually guarantee losing the Republican majority in the House, so the GOP would be trapped in a Catch-22 if Obama returns.
The juggernaut coming down the road, of course, is Obamacare, which has yet to help anybody but soon will kick in the largest tax increase in history.
Americans for Tax Reform has issued its list of the Top Five worst Obamacare taxes. Among them are a $20 billion medical device tax that will cut jobs and increase costs in the medical device manufacturing industry, a $13 billion tax increase that will limit options for families with special needs children, and $123 billion tax hike on investment income. For the complete list, click here.
Add on this pile the continued effects of the Obama Administration’s rigid adherence to liberal dogma that will see the government continuing its misguided program of spending as economic stimulus, “investment” in Obama supporters’ environmental get-rich-quick schemes and giving away of our resources to foreign countries that then sell them back to us at inflated prices.
If Obama is re-elected, say hello to higher energy prices, $6 gas, higher food prices, higher taxes, fewer jobs and a full-blown economic depression. And that’s just for starters.
But at least this woman will have her Obama phone.