Newsweek Tells Barack Obama to Hit the Road

August 20, 2012
By

When you have an article in Newsweek telling Barack Obama to hit the road and stating that the GOP might be our only hope, maybe you’re in trouble. The article will be on the stands tomorrow.

Naill Ferguson points out in his “Newsweek” article that Barack Obama has failed to keep his promises. He also mentions the media coverage of Barack being exclusively in Barack’s corner.

Via The Daily Beast, a must-read

…Unemployment was supposed to be 6 percent by now. It has averaged 8.2 percent this year so far. Meanwhile real median annual household income has dropped more than 5 percent since June 2009. Nearly 110 million individuals received a welfare benefit in 2011, mostly Medicaid or food stamps.

Welcome to Obama’s America: nearly half the population is not represented on a taxable return—almost exactly the same proportion that lives in a household where at least one member receives some type of government benefit. We are becoming the 50–50 nation—half of us paying the taxes, the other half receiving the benefits.

And all this despite a far bigger hike in the federal debt than we were promised. According to the 2010 budget, the debt in public hands was supposed to fall in relation to GDP from 67 percent in 2010 to less than 66 percent this year. If only. By the end of this year, according to the Congressional Budget Office (CBO), it will reach 70 percent of GDP. These figures significantly understate the debt problem, however. The ratio that matters is debt to revenue. That number has leapt upward from 165 percent in 2008 to 262 percent this year, according to figures from the International Monetary Fund. Among developed economies, only Ireland and Spain have seen a bigger deterioration… Read more at The Daily Beast

I doubt Newsweek has changed their feathers but this will garner them some publicity. They are known for their provocative covers.

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