Obama justifies his most recent statement: “we tried our plan — and it worked.”

<<<< A historian and investor,  Kenneth Schortgen makes the case for Obama's so-called successes:  " . . . . the President has succeeded . . .  in creating a larger socialist economy based on welfare, nationalization, and central planning that is reaching nearly every aspect of American lives."

President Obama spoke at a campaign fundraiser on July 23 in Oakland, California, and provided the audience a validation that his economic plan for America has worked over the past three and half years he has held office.

To the American people however, President Obama's term has not yielded economic recovery, or an improvement in their standard of living, and the facts show that the only true area where the President has succeeded is in creating a larger socialist economy based on welfare, nationalization, and central planning that is reaching nearly every aspect of American lives.

Discussing his economic policies at a fundraiser in Oakland, California, last night, President Obama, told supporters that “we tried our plan — and it worked.”

To prove that his economic plans have “worked,” Obama cited the auto industry bailouts. “I refused to turn my back on a great industry and American workers,” he said. “Three years later, the American auto industry has come roaring back.”

The Washington Examiner’s Conn Carroll also observes that Obama bailed out union pensions, while neglecting non-union workers, and decided not to follow the law by paying certain creditors — and still didn’t save money. - Washington Examiner

Besides the failed program to nationalize General Motors, President Obama has also succeeded in nationalizing healthcare for the entire population. Termed the Patient Protection and Affordable Healthcare Act, this program will not only impose additional taxes on businesses and individuals, but it will also limit the free market choices for patients and Doctors on what care they may receive, and also on how much.

[Note: you should know that hundreds of thousands of jobs were lost forever as Obama shut down all GM lines except Mercury, Chevy and Corvette along with 2,500 dealerships, associated parts businesses and the ruination of billions in primary bond holder retirement funds,  retirements stolen away from teacher and police unions.   The Chrysler Company failed (bet you did not know that) and was sold in-toto to Fiat of Germany at a loss of $5 billion to the American taxpayer.  GM "went public" with an IPO set at $33 per share.  Today,  it is selling for a little over $20 per share,  a loss to the taxpayer of 38 billion and GM owes $25 billion that it will never repay. Call that success if you will,  I call it "crap" - blog owner].  

However, these two industries are just the tip of the iceberg for President Obama on how much his policies have helped create a socialist economy. A new report by the Census Bureau shows that one third, or over 100 million Americans now live under the poverty level, which are numbers not seen since the 1960's. According to statistics taken in the final year of George Bush's term in office, President Obama has increased the number of Americans living in poverty by 6.4 million, while seeing economic growth fall below two percent during the same period.

By any economic standards, these do not equate to a successful plan. . . . . 

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About the author: 

As a historian in his primary field of study, and an investor in the real world, Kenneth has a keen perspective on all facets of the financial world. He has owned his own business and corporation, and has been an investor in many different markets such as securities, real estate, currency trading, and international trusts. His desire is to provide you with the true understanding of markets and the economy, and to give you the information that will help you make your own decisions in these troubling, and quite often, fascinating times regarding your economic decisions. Kenneth is not a certified financial advisor, and his only goal is to give you true information, by which you can see things as they happen, and in many cases, before they happen.