The Presidential Debate: 10/16/2012

Last night, Obama regurgitated his campaign rhetoric of 2008.  If we want the same result that we have had for the last four years, then we should re-elect him.  We should disregard January 2, 2013, "Sequestration Day," when, at the demand of our creditors, we must sequester $100 billion dollars of the next budget; $50 billion from the military budget and $50 billion from the entitlement programs and use it to pay down the national debt. January 2 is coming regardless of who wins the election, and we need an experienced economist (Romney) to lead us through the troubled years ahead.

In his closing statement, Obama complained that he had been mis-characterized as not believing in self-reliance.

In Obama's case, words have spoken louder than action. Obama once loudly proclaimed, "You did not build that! Somebody else did!" Everything he utters screams that self reliance takes a back seat to the entitlement cult. Romney was modest in saying that only 47% of the population see themselves as victims and entitled to unearned equality in the socio-economic world. With his redistribution of wealth policies, Obama wants the entitlement cult to be 100% of Americans.

Obama says he would eliminate the 14% tax break incentive for investors (like Romney) who create jobs and grow the economy. In Obama's world, only the Government can create jobs; after all the Government has provided him with the only jobs he has ever had, so we can understand his narrow frame of reference. If he kills the 14% tax break for investors, he will kill job growth completely.