The Weekly Standard reports, accurately enough, that one man in six of the 25 to 54 years of age are not working.
That group adds almost ten trillion dollars a year to the economy. If one in six is unemployed, that cuts a trillion and a half a year from the GDP – and a half trillion a year from American governments gross tax receipts. And that is just the beginning.
When the numbers have been run, the Feds are losing enough in taxes to very nearly balance the budget. So how did we get in this mess?
When Lloyd Bentson resigned as Willie Clinton’s Secretary of the Treasury, Clinton plugged a Wall Street banker, Robert Rubin, into Bentson’s place. Rubin is one of those “take care of today, tomorrow can take care of itself” types.
Rubin promptly developed a scheme to sell Treasury Bondes to the Chinese – in return for the U.S. Government expediting the movement of industrial jobs to low wage China. Which also had no pollution controls. And the result has been nothing short of a disaster.
A total of at least 56 million American manufacturing jobs have move “offshore.” The amount of pollution in the atmosphere has soared. And one man in six of men in their prime working years cannot find a job.
To be sure, this is not Obama’s fault. The scheme was Robert Rubin’s. Ruben was aided and abetted by Secretary of Commerce Ron Brown. And the entire scheme was vetted and approved by Willie Clinton and a majority of the RINO/Democratically controlled Senate.
Two trillion dollars now that will have to be repaid later, plus the permanent loss of at least 56,000,000 jobs that are gone forever. That is not Obama’s failure, it is the Democratic Party and the Clinton’s failure.
And we are all paying for their mistake.