Obama Administration Devaluing The Dollar

Barack Obama

The Obama Administration has been slyly devaluing the U.S. dollar, during the current financial crisis, attempting to challenge China in the world of commerce. This is a bad idea. China's financial dynamic is completely different from America's, which enables them to keep their currency low.

They are the world's top exporter of goods and the cost of living and wages are lower than in America. Playing with the U.S. dollar or attempting to force China to increase the value of its currency, the Yuan, will not repair the financial depression in America.

Bush Economist Blames Obama For Financial Deterioration

U.S. President Barack Obama

Glenn Hubbard, one time economist to former President, George W. Bush, has stated to Yahoo Finance, Barack Obama has pushed the U.S. economy, "Close to a destructive tipping point." He also stated, "We must change how we conduct our politics and economics...or we will inevitably go the way of all once-great nations and suffer and irreversible decline."

Too bad President Obama is not listening and is intent on spending America into an economic sinkhole so deep, the nation is guaranteed another financial depression of a more virulent nature, in the near future. The President has somehow gotten it into his head that the way to prosperity is spending money the nation doesn't have, rather than cutting costs.

Whereas, Bush created the financial mess the nation is presently mired in, Obama is finishing off America with his ill-advised spending philosophy, which is not going to work out in the end. And once again, Congress is sitting back and letting it happen.

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U.S. Economy "Close to a Destructive Tipping Point," Glenn Hubbard Says

Obama Administration In Bad Cash And Credit Cycle

U.S. President Obama: ya'll are broke!

It is very apparent, the Obama Administration, is stuck in a very bad credit and cash cycle, where the economy has become so bad, they have given up on reducing debt and keep adding to the deficit in sizable increments. They are operating under the proviso, things are so far gone, may as well keep spending. When one is in debt, to state the problem is so great, one may as well continue spending away, is the wrong approach to financial recovery.

For many months, troubling headline, after headline, have heralded massive spending initiatives, coming out of Washington. President Obama has added $1 trillion dollars to the deficit in the space of one year, which is unacceptable. Not even 1/10th of that spending was justified. Worsening economic figures, proves the unwieldy spending is not working, as the nation's financial outlook continues to hit record lows. The government has spent all the nation's cash and is currently operating on credit and IOUs. That has to change.

The U.S. Economy Deteriorates Again

U.S. President Obama

New numbers released for the month of July 2010, indicates the U.S. economy has deteriorated once again. The economy lost 485,000 jobs and foreclosures have risen 6% in America.

The government does not have a grip on the monumental losses that are occurring and have no idea how to stem them. The state of bankruptcy the nation finds itself in, after years of reckless government spending, is growing increasingly worse.

As it stands, more money is going out of the U.S. Treasury, than coming in and the job creation programs the government has enacted and are poorly managed and wasteful, not yielding the maximum number of jobs possible.