Obama failed to mention the warnings of the Congressional Budget Office which has continually reported on the unsustainability of continued deficit spending with reckless abandon. Furthermore, this morning it was announced that the number of working age citizens who have given up on any job search grew by over three hundred thousand in the past month, now over ninety three million in number. And with the debt quickly growing and now approaching nineteen trillion dollars and unfunded liabilities over two hundred twenty trillion dollars, a solution is not even conceivable. These proportions make Greece look like a "Sunday school picnic" and all Americans must be aware and prepare to fend for themselves when the bottom drops out.
Meanwhile, the mainstream media this morning was crowing about unemployment dropping to 5.3 percent using the government's bogus measurement criteria. So of course the unemployment numbers will look low when the number in the workforce is reduced so significantly. David Stockman, Reagan's former Office of Management and Budget Director, says that the real number should be over 20 percent, clearly of depression proportions.
America's economy is quaking and shaking and unless a concentrated effort is made to face reality, a collapse in inevitable. How soon? Well, nobody knows but what the nation needs is a leader who understands money and where jobs come from and how to balance budgets. That's why candidates of the business caliber of a Donald Trump or even a Carly Fiorina are gaining traction and becoming more attractive.
Regardless of whether one of these two or someone else is the successful competitor in the Republican Party, the next President will have to have at his or her fingertips great advice and counsel from people who understand that success comes from a fair and free capitalist system, not from crony-capitalism directed by a President who has no clue about how to manage and be frugal and be responsible for other people's money. And I guess from these comments you can tell that neither a Hillary Clinton or Bernie Sanders will fill that bill and, yes, that's exactly what I am saying.
It's time to get America going again with real leadership and sound management principles. There is a place for government, but it is a limited one and it must be accountable to the people who pay the bills. So as we approach our nation's birthday Saturday, let's vow to return to those principles of our Founders which made us great. If we do so, and do it quickly, we might still be able to salvage the Republic that we love.