Fed Chairman Ben Bernanke confirms, "Clown Pince" owe-bama is the worst president in U.S. history. Previously, Jimmuh Cahtah (Jimmy Carter)--the Georgia 'peanut farmer'--was widely held as the most destructive president. In his most recent Federal Open Market Committee report, Bernanke confirmed:
- Economic growth is dismal--at best--considerably slower than the committee expected;
- Household spending has flattened;
- Consumer spending held down by higher food and commodity prices;
- Inflation trending upward, due to increased prices for commodities, imported goods;
- Overall labor markets have deteriorated;
- Unemployment trending upward;
- Non-residential investment still weak;
- Housing investment in continued depression;
- Long-term inflation outlook is stable.
As Mr Bernanke elucidates, "Clown Prince" owe-bama's performance--particularly in the economic arena--is far more dismal than that of the peanut farmer, if that's even possible. owe-bama--with his amateurish antics--is clearly in-over-his-head with everything-governance!! The "Clown Prince" is no stranger to royally screwing up anything economic on the federal level while playing an amateur United States Senator.
- Back in 2005, then amateur-senator owe-bama claimed to be a member of the Senate Banking, Housing and Urban Affairs Committee. Not true; nothing more than another of the endless campaign lies he's told.
- In early February, 2005, then-President Bush-43's budget plan emphasized the explosive growth of GSEs (Gov't Sponsored Enterprises) Fannie Mae and Freddie Mac. President Bush-43 opined that the two were unsafe and unsound and should be replaced. [By September, 2008, the Bush-43 Administration had warned the congress 34 separate times of the impending financial collapse of both Freddie and Fannie; 17 times in the first six months of 2008, alone!!]
- On February 17, 2005, then-Fed Chairman Greenspan concurred with the Bush-43 assessment.
- On April 6, 2005, Senator C. Ellis Schumer denied the Greenspan claim (of course).
- In the Summer, 2005--by his own account--"Clown Prince" owe-bama wrote a letter to the Treasury Secretary (John W. Snow), putting himself on record that subprime loans were dangerous and had to be dealt with. This is revealing; it indicates then-Sen. owe-bama knew there was a problem with subprime lending — but was unwilling to confront his own party by pressing for legislation to control it. On upcoming 'Fannie and Freddie' legislation, the "Clown Prince" cast one of his ubiquitous 'present' votes-how's that for leadership?!? He couldn't even take a position on the legislation!
[NOTE: This supports my theory that it's better to have a president with an MBA than one with a Juris Doctorate!!]