by: Stewart A. Alexander
StewartAlexanderCares.com

April 25, 2009

Shortly after the 2008 elections, President Barack Obama told the nation that things would get worse, and shortly after his inauguration, the president re-emphasized that grim prediction on more than one occasion. Now approaching the end of his first 100 days in office, millions of Americans are now realizing first hand that President Obama was right, things are getting worse. As the nation’s unemployment lines continue to grow and a new wave of home foreclosures will certainly displace families nationwide, there is a growing uncertainty that President Obama has an economic plan to deal with the worst economic crisis since the Great Depression.

Socialists and conservatives, nationwide are rejecting President Obama’s tax and spend policies; both groups are now saying that the president’s economic policies will double the national debt within the next decade, economic policies that will create higher unemployment, will require higher taxes, and will spin the nation deeper into recession.

Already the results of President Obama’s first three months in office are clear; the nation’s unemployment stands at a 25-year high and many economic experts believe the unemployment numbers will reach double digits before the end of 2009. Nationwide, household incomes are declining; millions of Americans are seeking minimum wage jobs just to survive and as many as 60 million Americans remain under-employed.

In California, the unemployment rate is already in double digits with more than 2 million unemployed statewide; and in Los Angeles County, one out of every five persons are receiving public assistance. Two neighboring counties, Riverside and San Bernardino, are already tittering on the brink of a mild depression with unemployment now over 12.5 percent and home foreclosures are at the highest levels nationwide. Throughout both counties, food lines have doubled and in some areas, such as the City of Murrieta, once a solid middle class community, the food lines have quadrupled with many residents now receiving public assistance.

Millions of working class people are already losing faith in Obama’s economic policies as they lose their homes, their jobs and are unable to pay their bills. While the president is talking about a glimmer of hope and a light in the tunnel, many are beginning to believe the light in the tunnel is the approaching freight train of reckless spending.

Socialists and conservatives alike believe bigger government and heavy spending is not the answer to restructuring the U.S. economy; and even though the ideas of socialists and conservatives are vastly different, both groups are opposing the president on his enormous spending proposals that are lacking any clear plans on how to revive the economy and limit an ocean of future debt for the nation.

Socialists have remained opposed to the federal government bailing out the banks and Wall Street, while conservatives and socialists believe the president’s economic policies will lead to higher taxes and cuts in public services on the local and state levels. Already, local and state governments are beginning to cut services and are struggling to balance budgets; teachers, firefighter and public workers are receiving lay off notices, and working people are already paying higher fees and taxes on the local and state levels. Socialists and conservatives believe these are signs that Obama’s economic policies are already failing.

Socialists are also opposed to Obama’s national healthcare plan; socialists believe the president’s plan will only benefit big insurance companies and will fail to provide health coverage for all. With more than 48 millions Americans lacking health care coverage, Socialists Party USA, a nationwide socialist party, is calling for comprehensive medical, dental, vision and mental health coverage for all; publicly funded through progressive taxation, controlled by democratically elected assemblies of health care workers and patients.

President Obama has also drawn sharp criticism from the conservative right and the socialist left regarding his proposed $3.6 trillion budget that fails to reduce government spending; and during a severe recession and high unemployment, the president’s proposed budget has few job creation programs. Socialists are calling for deep cuts in defense spending and reallocating the resulting “peace dividends” to help create jobs and programs that will provide social benefits.

President Obama’s fiscal road map, the bailouts for the financial sector, the occupation of Iraq and Afghanistan, and the bulging national budget, will likely cost the nation more than $7 trillion over the next year with many socialists and conservatives questioning such fiscal irresponsibility. It is likely that once the president’s honeymoon is over, the nation will be stuck with a bill that will take many decades to repay.

For more information search the Web for Stewart A. Alexander

U.S. Socialists: Obamanomics offers little hope for working people.
banderasnews.com/0903/edop-stewartalexander26.htm

Socialists Confront the Economic Crisis
socialistparty-usa.org/statements/financialcrisis012509.html

Capitalists Attempting to Redefine Socialism
www.phillyimc.org/en/capitalists-attempting-redefine-socialism

StewartAlexanderCares.com
peaceandfreedom.org/home/
www.sp-usa.org/