The Question Is Do You?

"President Obama's approval rating on the economy has plummeted 11 points since May to a new low for his presidency, according to a new Gallup survey.

"Just 26 percent of Americans now think Obama is doing a good job handling the economy, down from 37 percent in mid-May – a sharp decline from the past 18 months when the number had hovered between 35-39 percent.

"The poll, which was conducted Aug. 11-14, found 71 percent disapprove of the president's handling of the economy, a new high. The margin of error is plus or minus 4 percentage points.

"The figures underscore the challenges facing Obama following a bruising political battle over the debt ceiling, first downgrade of the U.S. credit rating, wild swings on Wall Street and persistent unemployment above 9 percent."

The above is from a Washington Times front page story on Wednesday that portrays some of the reasons A through Y why BO should not be reelected – the question of course is how much does any of these disapproval statistics mean to an electorate who is becoming more & more government dependent every day – dependents who look to the mindless "let the wealthy pay" call to arms class(less) warfare as the only relief from their grief & anxiety for their statist lot in life they have accepted.

In line with all of the above listed economic disasters is the 40 year anniversary this past Monday of Nixon taking America off the gold standard on August 15, 1971. In one of those "do you remember where you were moments" I was on vacation in Ocean City, Maryland & will never forget that moment or date.  Forty years later I dread it more than ever.

Since Nixon's Executive Order in 1971 the per ounce price of gold has gone from $35 to $1,800 today & the purchasing power of a dollar in 1971 has been reduced to 18 pennies today. Click on this link to determine the impact of inflation for any period in your lifetime – like the year you started work to now.

Thanks to our SC businessman who took the time to write an easy to understand explanation of our government debt problem:

"These are the actual proportions of the federal budget and debt, reduced to a level that we can understand...Radio personality Dave Ramsey stated that if the U.S. Government was a family they would be making $58,000 a year, they are spending $75,000 a year and are $327,000 in credit card debt.

"The Government family is currently proposing BIG spending cuts to reduce their spending all the way down to $72,000 a year with a great deal of wailing and thrashing.

"I am sure the numbers can be disputed but the essence of his example cannot. Now this brings it home!!!

"Now you know the trouble we are in....."

Yes, I know the trouble we are in – the question is do you?