18 months after Ronald Reagan instituted an economic program now called "Reaganomics", the US economy was kick started into what became 20 years of unprecedented U.S. economic growth, prosperity, and wealth creation. Democrat president Bill Clinton extended Reaganomics, "It's the Economy Stupid" was his campaign mantra; his economic policies were in line with those of President JFK not FDR. At the end of Reaganomics under Bill Clinton the government was in surplus, working on reducing the federal debt, and welfare roles were being reduced. Reaganomics was a huge success.
18 months after B. Obama instated economic policies now called Obamanomics, rather than keeping unemployment below 8% as promised we hover at 10%, welfare rolls are expanding, and business is holding on to record cash reserves rather than expanding. Obamanomics is a spectacular failure, creating the potential for a $22 trillion dollars of public debt by 2020 that will take generations to repay.
Nonfinancial companies are sitting on $1.8 trillion in cash, 25% more than at the beginning of the recession. Major firms are reporting impressive earnings. Money continues to flow into firms' coffers, yet the good news from big business isn't translating into American jobs. If corporations are sitting on so much money, why aren't they hiring more workers? The answer is Obamanomics. Credit has dried up, so corporations must maintain higher cash reserves. Regulations have made hiring new workers more expensive and less secure. Promised tax increases also make expanding in the USA counterproductive. Too much government has made it practically impossible for small business to start, expand, or remain competitive. Why would any small business expand past 50 employees in today’s business climate? The crushing government regulations make entering into a new business, or expanding an existing business into new markets, unprofitable. Big business has a duty to its shareholders, and as such with more government must protect its assets and financial stability, which make contraction not expansion the best course of actions under Obamanomics.
Ronald Reagan, the “Great Orator,” was noted for his memorable and timeless sound bites, like “government is not the solution to the problem, government is the problem” and "The nine most terrifying words in the English language are, ‘I'm from the government and I'm here to help.’" Obama’s sound bites are equally memorable but obviously anti-American and socialist, like; “the problem with our constitution is that it doesn't allow the federal government to take "bold steps" in changing the US” and "My friends, we live in the greatest nation in the history of the world. I hope you'll join me as we try to change it" and “I think when you spread the wealth around it's good for everybody.”
Obamanomics failure is the result of inexperienced elitist intellectuals implementing utopian socialist ideology notwithstanding of the fact that those ideas have repeatedly proven harmful to society whenever and wherever implemented. The rise of the USA, most powerful nation in history, a nation which has no empiric goals, routinely rebuilds those it defeats in war, and provides the most charity to the entire world, was conceived and based on the idea that government exists at the consent of the people, and has few distinct limited powers leaving the vast majority of power with the people not the government. The failure of Obamanomics and the resultant economic chaos is historically repeatable and exactly what occurs whenever any government uses its power to usurp the power from the people.
Obamanomics is the implementation of socialist/Keynesian based economic policies which have always proven to lead to significant economic turmoil and downturn, and more government power over the people. It is painful to watch the desperate actions of the Obama administration ameliorate their demonstrably failed policies in light of the indisputable proof of Reaganomics over Obamanomics.