10 Reasons Obama Will Not Be Re-Elected
NEW YORK (TheStreet) -- None of the four GOP contenders has emerged as a star candidate yet. But it won't take a star to defeat President Obama. His record over the last four years will be reason enough to vote him out of office.
1. The economy is struggling. Since 2008 the U.S. economic clock has been turned back 10 years. If congressional gridlock continues The Economist reckons it will continue declining. The only country that slid more than the U.S. is Greece.
>>Also see: 10 Reasons Obama Will Be Re-Elected
2. Gas is more and more expensive. Obama said, "There is no silver bullet" to temporary rising gas prices. Temporary? On Obama's watch gas has risen from an average of $1.85 a gallon to near $4 today. He does have a solution: Americans will drive cars that get 55 mpg. In the small print, there's a warning: These cars are small. They have a clutch and roll-down windows.
3. The war in Afghanistan is a fiasco. Obama's good war has turned into a mess. We are eyeing a second Vietnam.
4. The kids are not fired up. Mr. Hope-and-Change has disillusioned his younger voter champions -- 66% voted for him in 2008. Youth unemployment is at a 60-year high. It is now over 18%. It was 14% in 2008 (10.5% in 2007).
5. Lending is still down. New bank loans remain at historic lows: Just 50% of GDP. Healthy growth calls for new loan growth of at least 100% of GDP. The 848-page Dodd Frank Act is a major contributor to bank reticence to lend.
6. He's lost the elite. In 2008, Obama carried 52% of the 1%-ers, whom he later demonized.
7. Welfare rolls are rising. Americans have always taken pride in being self-sufficient. No welfare state here. At least there didn't used to be. Welfare spending in the U.S. is up 29% on Obama's watch. Food stamps recipients are up 68% from 28 million under Bush to 47 million under Obama.
8. So is the national debt. The nation's debt has grown a whopping 65% on Obama's watch. It's gone from $10 trillion to $15.5 trillion.
9. The U.S. lost its AAA rating. Under Obama, America has had its first credit downgrade. A huge contributory factor was his inability to lead Congress.
10. House prices have plummeted. Home prices hit their peak in 2006. In 2011 they hit new lows.
In addition, we could talk about the failures of Obamacare or the fact that the U.S. is in decline, as global rankings indicate. The list goes on.
Anyone but Obama.