The true costs of an Obama presidency have yet to appear

Three TRILLION dollars of investor wealth have disappeared into the ozone since Barry O fooled enough people into electing him President.

And there's more disaster to come:

"......under Obama's plan the rich won't pick up the whole tab. New energy taxes of $646 billion will hit the middle-class hard. Meanwhile, in just eight years, our national debt will double to $20 trillion, as nondefense federal spending jumps from the long-term average of 16.5% of GDP to above 23%.

You — or your children — face higher taxes for decades to come.

As our stock markets melt under a barrage of new taxes on incomes, estates, capital gains, dividends and energy, it's good to recall that more than 100 million people own stocks or mutual funds. And that the stock market is the main wealth- and growth-creating mechanism in our capitalist society.

But when taxes go up, regulations proliferate and the rule of law and private property protections are weakened, the economy will invariably suffer. This is a universal lesson of economic history, one we ignore at our peril. And yes, this is what's happening now."

Here's more at The Spagnola Report, quoting USA Today:

“It’s a bloodbath, pure and simple,” says Scott Black, president and portfolio manager at Delphi Management. “This is a vote of no confidence in the Obama administration. It doesn’t matter what you own, everything is going down. It is a total capitulation. People are just terrorized and are throwing in the towel.”

Wall Street generally believes the president’s budget relies too much on government spending and too little on tax cuts and other incentives for businesses. Big investors also are complaining that Obama’s policies are more anti-business than they believed initially. “The market thought it was getting a Bill Clinton-type Democrat that would move toward the political center,” hedge fund manager Pat Adams says. “But we got a guy way off to the left.”

Gary Kaltbaum, president of money management firm Kaltbaum & Associates, says Obama’s plans to tax the wealthy and take aim at big business will have an adverse affect on the ability of companies, big and small, to generate the types of profits needed to reignite growth…”I believe we are now in a period of a war on profits, a war on success.”

We can't say that we weren't warned, can we?