Unemployment Hits 10.2%... Obama Sends Us on Path to Economic Ruin

By Wayne Allyn Root

Obama Wakes Up to Big Surprise - Government Creates No Jobs… Unions Kill JobsThe national unemployment rate hit 10.2% today. What a surprise! Actually it may have come as a great surprise to "the Messiah" a/k/a President Barack Obama, but it came as no surprise to anyone who understands economics. My old college classmate Obama is not among that group.

Small business creates upwards of 75 - 80% of all new jobs. If small business is failing, there are no new jobs. Without a robust small business community, there can be no economic recovery. All the stimulus money in the world going to Obama's big business campaign contributors - unions, government employees, banks, Wall Street - will not end the recession. All the government jobs “saved” and created will do nothing but take money and jobs AWAY from the private sector. All the billions of dollars lavished on unions and union workers will push the country back into recession. All the government union workers honored with raises by Obama will increase the national debt and damage the economic recovery. Only a recovery led by small business can save us. We are staring at an economic Armageddon - not just for us, but for our children and grandchildren.

We have been lied to by Obama, by Pelosi, by Treasury Secretary Geithner, by Fed Chief Bernanke. There is no recovery. The recession isn't over. To the contrary, we are in the start of a long-term depression caused by big government, big spending, onerous taxes and government regulations placed on business, too much deficit and debt. Obama isn't the solution. He is the problem. He knows nothing about business - small or large. He has never owned a business, run a business, funded a business, or created a job in his life. His entire knowledge of economics comes from books. And they are the wrong books - Karl Marx never created a job either. [more...]