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President Obama and Congressional Democrats are facing Tea Party protests and are tanking in the polls. Washington D.C based pundits are forecasting massive Democrat Party election losses in 2010. So, what happens?

The RACISM CARD is played.

And, by whom?

The WORST President ever = Jimmy Carter. Video here.

The country is in an uproar NOT because of Obama’s poor policy choices but because he has black skin.

Wow!

Plus Ca Change

News Item: Dollar hits new multimonth low vs euro, pound, yen

The dollar kept falling Friday, notching fresh multimonth lows against the euro, pound and yen as a warning that Britain’s debt level may result in its credit rating being cut ricocheted into worries about the massive U.S. deficit.

The 16-nation euro rose to $1.4015 in morning trading from $1.3889 in New York late Thursday—its first time above $1.40 since Jan. 2.

The British pound rose to $1.5916 from $1.5890, peaking at $1.5945 earlier in the session, its highest point since Nov. 6.

Meanwhile, the dollar edged up to 94.51 Japanese yen from 94.23 yen—after earlier falling to 93.82, its lowest point since Feb. 23.

“The problem for the U.S. is particularly acute because of its reserve status,” said UBS analyst Brian Kim in an e-mail to investors Friday. Major holders of U.S. debt, such as Middle Eastern sovereign funds and the Chinese government, have not been shy about calling the U.S. out for what it sees as policies that will trigger inflation, shrinking the value of their Treasury holdings.

Well, no shit, Sherlock.

With the massive Obama government spending and debt there will be massive inflation and stagnant economic growth – just like the Jimmy Carter STAGFLATION in the 1970′s.

The solution then, as it is now, was the election of a conservative President (President Ronald Reagan), limited government, reduced federal spending and tax cuts.

Yes, there is a REAL t-shirt. (Via Kathryn Jean Lopez at National Review)

Flap wonders if Gabe Kaplan has a cut?

It was just a matter of time.

President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.

In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation’s economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that Obama hopes to enact later this year.

Sounds like an economic prescription of the Jimmy Carter years – overregulation, taxation and more domestic, wasteful spending.

America knows the result of these policies – inflation and slow/negligible economic growth.

Wasn’t it called STAGFLATION?

Remember the late 1970′s, Jimmy Carter, Democrats in control of the Congress, Hyperinflation and Economic Malaise?

Here we go again – It is just starting folks.

Inflation at the wholesale level surged unexpectedly in January, reflecting sharply higher prices for gasoline and other energy products.

The Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase that economists had expected.

The acceleration was led by a 3.7 percent surge in energy prices with gasoline prices jumping by 15 percent, the biggest gain in 14 months.

Even outside the volatile food and energy sectors, wholesale prices showed a bigger-than-expected increase, rising by 0.4 percent. Economists had expected a slight 0.1 percent rise in so-called core inflation.

We Will need another Ronald Reagan to rein in government spending to right the Obama/Democrat economy.