HERMAN CAIN COMMENTARY: The People Aren't Buying Obama's Economic Propaganda

Asserts the conservative Republican businessman: "President Obama and the Democrats told the public in February that they needed to pass the $787 billion stimulus bill to keep the unemployment rate under 8 percent. The rate has increased in an almost vertical fashion every month since then, and the Labor Department reported last Friday that October’s rate hit 10.2 percent. President Obama’s response to the report was that 'I will not rest until all Americans who want work can find work.' With all due respect Mr. President, you will not get any rest for a long time because spending and debt do not create jobs. I know it’s a long shot and your people may not show it to you, but I suggested a plan that would make you look like an economic hero. President Obama also said he would not sign a health care bill that adds one dime to the deficit. In order for the House Democrats to pretend to get to 'not one dime' they low-balled the cost at $894 billion by shifting some items elsewhere, disguising the tax increases, and assuming unrealistic cuts in Medicare. The real cost is $1.5 trillion at least, and no government social program in history has ever hit 'at least.'"

He continues his commentary: "The latest propaganda is the administration’s claim about 'jobs created or saved' as a result of the $787 billion 'stimulus bill'. Edward Lazear explained in the Wall Street Journal the emptiness of that claim. The article is titled 'Jobs ‘created or saved’ is meaningless. What matters is net job gain or loss, and that means the unemployment rate.' Oops! The third quarter positive GDP growth of 3.5 percent is great news, but the recession is not over. Cash for Clunkers generated a net increase of about 125,000 new cars, but it did not single-handedly turn around the automobile market. And whereas a few hundred thousand home buyers took advantage of 'free money' from the government on their first home purchase, the real estate and housing markets are still a long way from being poised for sustained growth."

More commentary from Mr. Cain: "Although the administration and Democrats want to dismiss the gubernatorial election results in Virginia and New Jersey last week, and the near victory of an unknown conservative in the 23rd Congressional District of New York, the decline in confidence and trust is already being reflected at the ballot box. That’s great news!People are not buying the media spin, and they are rejecting the propaganda. More people are getting off their sofas and getting informed, involved and engaged in fighting against how the liberals in Washington are trying to change this country with propaganda and ineffective policy. We the people will not be dismissed, and we are not running on empty."