On Feb. 2, 2009, President Barack Obama explained his chances to fix the economy to host Matt Lauer on NBC’s “Today” show: “I will be held accountable. I’ve got four years. … If I don’t have this done in three years, then there’s going to be a one-term proposition.”

Here are my Top 10 reasons why I believe President Obama shouldn’t stay a single day beyond his one term in the Oval Office:

10) Obama’s economic actions have failed to lower the U.S. unemployment rate below 8 percent for last 42 record months

Four years into his presidency, Reuters has reported on Obama’s economic progress: “Details of the household survey, from which the unemployment rate is drawn, gave a downbeat assessment of the labor market, with the share of the population that has a job falling to near cycle lows. In addition, the labor force participation rate, or the percentage of Americans who either have a job or are looking for one, fell to 63.7 percent last month from 63.8 percent. That is a sign of low confidence in the labor market. Data last week showed the economy grew at an annual pace of 1.5 percent in the second quarter, also far short of the 2.5 percent rate needed to keep the unemployment rate stable.”

9) The Obama administration’s out-of-control spending has led America to the economic brink and destroyed our country’s credit rating

In 2010, President Obama spoke out of one side of his mouth when giving financial advice to the people in New Hampshire: “When times are tough, you tighten your belts. You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash in Vegas when you’re trying to save for college.”

But he then spoke out the other side of his mouth when he informed the American public that he was proposing a record-breaking $3.8 trillion budget for 2011, which equates to spending $7.3 million a minute. (The federal budget was only $1.9 trillion in 2001.)

Tragically, the president expects Americans to live financially one way (fiscally prudent) and the federal government to live another (extravagantly wild). Not surprisingly, Moody’s credit rating agency announced the next day after the president’s 2011 budget proposal release that his fiscal policies “test [America’s] AAA boundaries” and now push the U.S. government credit ratings below those of Canada, Germany and even France.

Even the liberal media predicted that Obama’s spending would “leave a string of deficits dwarfing any in the nation’s history.” And they were right.

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