Saturday, March 10, 2012

10 Reasons Obama Will Not Be Re-Elected

NEW YORK (TheStreet) -- None of the four GOP contenders has emerged as a star candidate yet. But it won't take a star to defeat President Obama. His record over the last four years will be reason enough to vote him out of office.
1. The economy is struggling. Since 2008 the U.S. economic clock has been turned back 10 years. If congressional gridlock continues The Economist reckons it will continue declining. The only country that slid more than the U.S. is Greece.
>>Also see: 10 Reasons Obama Will Be Re-Elected
2. Gas is more and more expensive. Obama said, "There is no silver bullet" to temporary rising gas prices. Temporary? On Obama's watch gas has risen from an average of $1.85 a gallon to near $4 today. He does have a solution: Americans will drive cars that get 55 mpg. In the small print, there's a warning: These cars are small. They have a clutch and roll-down windows.
3. The war in Afghanistan is a fiasco. Obama's good war has turned into a mess. We are eyeing a second Vietnam.

4. The kids are not fired up. Mr. Hope-and-Change has disillusioned his younger voter champions -- 66% voted for him in 2008. Youth unemployment is at a 60-year high. It is now over 18%. It was 14% in 2008 (10.5% in 2007).
5. Lending is still down. New bank loans remain at historic lows: Just 50% of GDP. Healthy growth calls for new loan growth of at least 100% of GDP. The 848-page Dodd Frank Act is a major contributor to bank reticence to lend.

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