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Nobama

June 1, 2012 by  

More people join the ‘anybody but Barack Obama’ club. It was no surprise that Mitt Romney won the Republican primaries in Arkansas and Kentucky last week. But did you hear what happened on the Democratic side? Forty-two percent of the voters in the Democratic primaries in those two States voted against the incumbent President. In Kentucky, where there wasn’t even an opponent on the ballot, Democrats selected “uncommitted.” That’s almost as embarrassing as what happened in West Virginia, where 41 percent of Democratic voters chose a prison inmate rather than our current President.

Taxmageddon could derail the economy. As discussed in last week’s Straight Talk, tax increases already set to take effect in January will cost taxpayers an additional $500 billion a year. Some economists estimate that it could knock 3 percentage points off the Nation’s gross domestic product and warn that another recession is all but inevitable unless Congress takes action to block this massive tax grab.

More Americans leave the workforce. According to the Bureau of Labor Statistics, only 63.6 percent of American adults were considered to be in the workforce in April — the lowest percentage since 1981. Some 88 million Americans have “chosen” not to be in the workforce — the highest level in history.

Fudging the unemployment numbers. The previous item helps explain why the Administration of Barack Obama can claim that the unemployment rate fell to 8.1 percent in April. And another eye-opener from the Bureau: Only 41.6 percent of people with jobs work more than 35 hours a week — the definition of having a full-time job.

–Chip Wood

Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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