Obama is truly betting his ‘farm’ by slamming American small business

By: Jeffrey Klein
Political Buzz Examiner

For President Barack Obama, the shear pressure of having presided over a four-year ‘flat-lined’ economy on his hands, just became worse today with more very negative news regarding consumer spending–which represents 70 percent of the U.S. economy and the prime catalyst for job creation–the number one issue for a plurality of Americans in the November elections.

A report from the Commerce Department showed retail sales falling 0.5% in June from May, surprising economists who were expecting a 0.2% gain, according to Adam Samson’s FOXBusiness article yesterday.

Nomura analysts felt compelled to include this note to their clients…

The weakness across sectors in June was broad based, which implies a general softening in consumer spending.

Echoing that sentiment, IHS Global Insight Senior Principal Economist Chris Christopher wrote in a research note…

Retail sales have hit a brick wall, plain and simple. The American consumer is not in a healthy state.

To top it all off, The International Monetary Fund (IMF) released its’ revised outlook report for global growth, which was scaled down from its April 2012 forecast … “In the past three months, the global recovery, which was not strong to start with, has shown signs of further weakness,” noting that downside risks “loom large.”

Even Fed Chairman Bernanke’s Congressional testimony today was downcast, wherein he told lawmakers recent deterioration in the labor market suggests the nation’s 8.2 percent jobless rate will only fall gradually–much slower than would be helpful to an ailing economy, and admitting for the first time it could not be explained away by purely seasonal factors, according to Dunstan Prial’s FOXBusiness article today.

If President Obama absolutely needs to have the economy pick up steam and start hiring again, why in the world has he taken to entrepreneur bashing and belittling lately, while simultaneously threatening them with a huge increase in their income tax rate?

According to a FOXNews article last Saturday, while speaking at a campaign rally in Roanoke, Virginia last Friday, President Obama, in his best Rev. Jeremiah Wright impression, barked…

If you’ve been successful, you didn’t get there on your own.

If you’ve got a business, you didn’t build that.

Somebody else made that happen.

How would Barack Obama know what it takes to create and build a business, or for that matter, any ‘sustainable,’ income tax producing entity?

So, what does Obama hope to gain from his pathetic and proven to be false attempts at impugning Gov. Mitt Romney for having started and grown Bain Capital into a national private equity powerhouse–at the same time the future president was busy drinking beer, smoking marijuana and snorting cocaine at university–producing nothing but a love for Saul Alinsky and Marxism.

Kevin Hassett, an economist with the conservative American Enterprise Institute, said that although Obama’s comments are “so far from the current debate,” they are setting the stage for the administration’s tax argument, according to a FOXNews article today.

Obama is trying to create the intellectual space to take money away from people. [Obama] is trying to say–What you do on the playing field would never be possible without the help of the government.

Indeed, Senate Majority Leader Harry Reid (D-NV) has pledged to bring it up for a vote on the floor of the Senate prior to their August recess, obviously hoping to corner the Republican-led House into capitulating.

Unfortunately for Obama and Reid, there are too many Democrat Senators in hotly contested reelection races back home, who DO NOT want to raise taxes on anyone in an election year–especially now that Obama has incurred the wrath of a million small business owners and associations all over the nation.

Like David Chavern, chief operating officer of the Chamber of Commerce, accused Obama of slighting the remarkable achievements of extraordinary individuals on the Chamber blog…

We should applaud the risk-takers and the dreamers who are willing to stand out from the crowd. Rather than denigrate what these people have done, we need to encourage more people to be like them.

The National Federation of Independent Business chimed in, releasing this statement…

[Obama’s] unfortunate remarks over the weekend show an utter lack of understanding and appreciation for the people who take a huge personal risk and work endless hours to start a business and create jobs.

I’m sure every small-business owner who took a second mortgage on their home, maxed out their credit cards or borrowed money from their own retirement savings to start their business disagrees strongly with President Obama’s claim. They know that hard work does matter.

And, in an email to news outlets, Romney spokeswoman Andrea Saul said Obama’s remarks…

Reflect just how unqualified he is to lead us to a real economic recovery. They are also insulting to the hardworking entrepreneurs, small-business owners, and job creators who are the backbone of our economy.

In view of the stakes in the game and his uphill battle against the facts of his colossal failure as a president, Barack Obama is obviously willing to bet his ‘farm’ with such a deep-rooted, personal attack on small businesses–the engine of growth throughout the proud history of our country–long before, and after, the federal government got in the way.

Barack Obama displayed his only talent in Virginia on Friday–getting ignorant, do nothing entitlement seekers to cheer him…as long as he is still able to send them a check every month.