Tags: Obama | Democrat | elect | Clinton

Obama's 2 Americas – The Economy and How Democrats Win Elections

Thursday, 13 Feb 2014 07:49 AM

By Peter Morici

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
President Obama is dividing America into two nations — one rich, the other increasingly poor. And both more likely to elect Democrats. Americans growing richer support his policies, and those growing poorer are increasingly dependent on Democratic politicians for government handouts.

In this century, the economy has not performed well, and a jobs shortage has driven down the income of most Americans.

Obama's "recovery" has managed only 2.4 percent growth, but President George W. Bush's expansion scored about the same rate and then collapsed altogether.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

Since 2001, when Bush took office, the U.S. economy has created only 4.7 million jobs — about 30,000 a month and less than one-fourth of those needed to keep pace with population growth. For most, wages after inflation and higher state taxes have fallen.

Technology is important. The digital revolution and the shift of news and entertainment to the Internet, cable, eBooks and the like have effectively killed 1 million jobs.

Globalization is a culprit. American industry still boasts many of the best products and most-efficient factories, but has shed 5 million jobs — far more than can be justified by rising productivity.

Manufacturing has enjoyed a small renaissance, but has recouped only one in nine lost jobs, because Bush and Obama poorly enforced trade agreements that apply to principal competitors. China, Japan and Germany systematically maintain currency advantages and barriers that artificially underprice their products and block our exports.

Obama has unilaterally imposed environmental and energy policies that needlessly raise costs and penalize competitiveness.

Increasingly, workers are divided into two groups.

Those with diplomas from elite universities rely less on sinking U.S. fortunes and more on global markets for their services, or who can simply manipulate markets. Big wealth is concentrated on Wall Street, Silicon Valley, Hollywood and players with monopoly power — like the NFL and your local cable operator.

Meanwhile, the rest of America goes without a job or languishes with sinking wages waiting on the new elite in restaurants and hotels.

One in six men between the ages of 25 and 54 have no jobs, few prospects for finding one and are increasingly supported by their wives.

Contrary to the cynical alibis of Democratic politicians and feminists, this is not a choice made possible by greater gender equity. During President Clinton's years, when both women and the overall economy made strong gains, the percent of prime-age men working increased, but since has declined precipitously.

Non-elite males don't vote for Democrats and certainly are not likely to vote for Hillary Clinton, so Obama happily pursues policies that marginalize and make them despondent.

Hillary talks endlessly about programs to help girls and women, but little about the plight of those forgotten men and the boys our schools are failing.

Democrats answer these problems with strategies that motivate the poor and less prestigiously educated to quit the labor force altogether and rely on government largess, and rewards the wealthy elite who finance their campaigns.

According to the Congressional Budget Office, Obamacare's perverse incentives will motivate 2.3 million low- and middle-income Americans not to seek employment. One in seven adults is now covered by food stamps.

Strong enforcement policies and generous tax treatment for intellectual property enhances the wealth of high-profile Democratic contributors in Hollywood and Silicon Valley.

The Obama Justice Department, unlike its Clinton- and Reagan-era predecessors, fines banks instead of prosecuting financiers who defraud investors. Then Democratic fundraisers collect commissions from left-leaning bankers and lawyers with seven- and eight-figure incomes.

The IRS stalks conservative political contributors and the Justice Department rifles the phone and email records of reporters. We can't have too many critics stirring up the masses.

The PC police now ensconced at the helm of America's once-great universities, limit conservative voices but supply NPR and The New York Times with research that pimps progressive causes.

Wrapping it all together, Democrats win elections cultivating a large contingent of voters whose declining circumstances require substantial government support, and finance their campaigns with contributions from elites profiting from globalization. Critics are squelched, and the Republic declines.

I thank my stars for tenure, but feeding my family and writing this column will only get tougher under the high heels of a President Hillary Clinton.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink

 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Facebook
Google Plus
You May Also Like

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved