Yesterday's Washington Examiner posted an article about the rapid increase in poverty during the Obama Administration. The official poverty rate figure will be released next week, but predictions are already out that the increase will jump nearly two points to 15 percent, the largest single-year increase since the government began keeping track.
The previous record for a single-year increase was held by the Carter Administration in 1980. The article points out that our current financial problems go back to a housing bubble created by government-mandated mortgages going to millions of people who could never repay them. The article points out that when the government interferes with the free market, there will always be unintended consequences. We are currently paying the price for the government's interference in the housing market.
The article concludes:
"...Often, those consequences harm most the very people who are the intended beneficiaries. "The most important anti-poverty effort is growing the economy and making sure there are enough jobs out there," Obama said last Friday at press conference. If Obama really believes that, he'll prove it by reversing course and moving to reduce government spending, regulation, debt and taxes. If he refuses, more Americans will find themselves in the poorhouse."
As John Kennedy stated in June 25, 1963:
"As they say on my own Cape Cod, a rising tide lifts all the boats. And a partnership, by definition, serves both partners, without domination or unfair advantage."
Today those words would put him out of sync with his own Democrat party. If you want to go back to prosperity, cut taxes and reduce spending, vote Republican in November.
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