US Financial Collapse Likely if Obama Wins Reelection
As it loses its sovereignty, Spain finds itself in a vortex from which it cannot escape. It has entered into a second recession within three years. It has no money to combat this dilemma, as the private sector is collapsing, and so, as a result, are tax revenues, and the government is stuck with massive social programs. The national unemployment rate as of August 2012 is 24.6%, but for the young (16-24 years of age) it is now 52.9%. For those between the ages of 20 and 29, the rate is 39%. People are withdrawing and hoarding what cash they have, and many are moving to other countries. Tax revenues thus continue to decline, and few businesses will contemplate a start-up or move to Spain under these circumstances. The nation cannot cut spending beyond a certain point without fomenting a national upheaval, and it cannot promote programs to grow the economy. A financial and societal collapse is thus inevitable.
The United States is on the same path.
Since 2008, the nation’s debt has increased by 75% and will, per Obama’s own budget proposal, more than double (up 130%) by the end of an Obama second term, just four years away. The unfunded liabilities of the U.S. are now 14 times larger than the nation’s annual economic output (GDP). Government at all levels (federal, state, and local) is now spending the equivalent of 40% of the nation’s annual GDP. It will increase to 46-plus percent when ObamaCare and other programs are fully implemented.
The real unemployment rate today (counting all who dropped out of the labor force) is approaching 19%, and over 50% of recent college graduates are unemployed or grossly under-employed, with no hope in sight. There has been a concerted effort by this administration to centralize economic control in Washington through onerous mandates, regulations, and proposed taxes, thus discouraging wealth- and job-creation and forcing many businesses to contemplate a move overseas. The result of all the above is little or no economic growth, thus diminishing tax revenues and forcing more reliance on borrowing to fund the promised spending.
Borrowing that will one day in the not too distant future cost the United States an exorbitant interest rate, combined with a demand for real austerity and a de facto loss of sovereignty, would cement in stone an inevitable collapse.
For those who are maybe undecided or enamored of the Obama cult of personality, there is no need to listen to any of the political speeches and the distortions inevitably contained therein or to read green eye-shade economic reports. Just look across the Atlantic Ocean for a reality check and see the future if the Obama team is given four more years.
Read more from this story HERE.
by a mob of radical Egyptian Al Qaeda sympathizers on the 11th anniversary of the 9/11 attacks.
The U.S. ambassador to Libya and three other American staff members were killed Tuesday in an attack on the U.S. consulate in the Libyan city of Benghazi, the White House confirmed. President Obama, in a written statement issued Wednesday morning, called the attack “outrageous” and “senseless.” 
Yesterday, the US Embassy in Cairo put out a shameful statement in response to anger over an anti-Muslim film:
“People are saying a lot of bad things and boycotting my restaurant,” Scott Van Duzer, 46, told POLITICO. “There’s no middle line anymore, and that’s exactly what’s wrong with our country right now.”
Sheryl Harris, a voluble 52-year-old with a Virginia drawl, voted twice for George W. Bush. Raised Baptist, she is convinced — despite all evidence to the contrary — that President Barack Obama, a practicing Christian, is Muslim.
Two federal agency supervisors allegedly warned employees earlier this year that a Republican takeover in Washington could threaten their jobs — comments that some workers apparently took as guidance on “how to vote” and that one group claims may have violated federal law. 
