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-- they'll all -- way thanks for watching us tonight why America is losing power that is the subject of this evening's talking points memo.
The United States remains the most powerful nation in the world but we are losing steam.
Our power is not based on the military which is the best in the world our economic prosperity makes a strong but here we are in decline.
The debt deal this week accomplish one big thing it kept you response from being downgraded -- huge.
As we predicted here Moody's and other agencies now say they will keep America's triple A rating intact at least for the moment.
But there is little else good about the debt deal in the stock market knows it it has lost almost 700 points in nine days.
That's because Wall Street has little confidence that the Obama administration and congress will do what's necessary to improve the economy.
Let me restate that there is no confidence in American leadership on the economy none.
And here are some of the reasons.
Last December the national commission on fiscal responsibility and reform issued its report calling for deep spending cuts and entitlement reform.
President comments Obama thank the commission thank you thank you.
Headed by Alan Simpson and Erskine Bowles and then He ignored most of their recommendations.
Thank you guys.
Few months later.
Obama proposed his budget for 2012.
It was defeated in the senate 97 -- nothing.
To let's review president sensible financial commission.
Then ignores -- president puts forth his budget and no one not even members of his own party most.
Would you have confidence -- a guy like that.
And then there's congress extremists on both sides left and the right are scaring investors.
The far left -- want even more government spending a fourteen point five trillion dollar debt and not enough for that much horrible our.
And spread it over.
That's the ticket to prosperity.
And I truly mean this that deal is self destructive and insane.
On the far right there are people -- to blow up the entire economic system and start all over again.
Extreme points of -- are heard loudly on cable and talk radio and they are spooking.
The investment community.
Now back to President Obama.
His economic vision is driven by the liberal Tenet of social justice.
That's where the government takes taxpayer revenue.
And money to capitalistic system generates and gives it to people who don't have very much.
Liberal pundits are wailing this week that the Tea Party is damaging America's compassion.
But let me ask you a question what's compassionate.
About destroying the entire economy.
Because that's where we're ahead.
All of us will be affected if the wild spending doesn't stop but many liberals refuse to acknowledge.
Here's a more micro example.
President Obama's health care vision now includes free healthcare for -- Beginning on January 1 2013.
Private health insurance companies will be forced forced to pay for female birth control.
Doctor visits for women.
And a variety of counseling.
That will -- -- health insurance companies billions of dollars every year so or what do they do.
They're gonna raise premiums.
Individual Americans will pay more and companies will pay more.
That in turn will mean companies will hire fewer employees.
Because their health insurance cost is so expensive.
And the employees who don't get hired.
Are gonna make less money.
Because obamacare will cut into corporate profits.
Do we all see what's going on here.
The president is hurting the private sector because He wants to provide medical services free.
And other products.
On the women's health front.
There's no -- pay.
No deductibles the insurance companies pay at all now talking points is not a big fan of the insurance industry but I am a big fan of employment.
How on earth how on earth.
This President Obama think jobs are gonna be created in America if He continues to take profits all way eight from the private sector.
And then there are the federal regulations on business.
Obama last -- America's businesses have a responsibility as well to recognize that there are some basic safeguards.
Some basic standards that are necessary to protect the American people from harm.
Or exploitation but every regulation.
Not every regulation.
Is burdensome on business while the regulations are out there are things that all of us.
Welcome in our lives.
OK there has to be some federal oversight on polluters in corporate gangsters sane people know back.
But under mr.
Obama the annual cost of regulating the private sector has risen to almost two trillion dollars a year.
That's twice as much as the government collects an income taxes twice as much.
The world's financial community doesn't want the USA to become sweeten.
They don't want the most powerful economic engine on earth to become a nanny state or being held hostage to the snail Carter's.
Financial people understand you can't growing economy by strangling it with high government mandated expenses and regulations would choke off expansion.
I mean come on we're either gonna be a capitalist nation or not and it seems a Democratic Party is voting not.
USA simply cannot sustain much more the economic chaos that has unfolded over the past two and a half years.
And I'm not given the Bush Administration a pass here because they contributed to the cast big time.
But you can't blame our current problems on a former president.
Obama has had plenty of time to move the economy for it has not happened.
Not a model of this program is the spin stops here the motto of the Obama administration should be the madness stop us now.
Get back to helping business expand Mr.
President knocked off the nanny state lunacy.
Because grave damage is being done and the worldwide marketplace knows.
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