THE HIGH COST OF OBAMANOMICS: THE WEAK DOLLAR AND EXPENSIVE OIL - AND HIGH UNEMPLOYMENT AND HUGE DEFICITS

NYTIMES:

Benchmark crude for November delivery gained $1.70 to $73.47 on the New York Mercantile Exchange. Heating oil rose 5.4 cents to $1.907 a gallon and natural gas jumped 15 cents to $4.92 per 1,000 cubic feet.

Still, there are enormous supplies of all three due to the recession and there is little chance of a shortage in the near term.

The weakened U.S. currency, however, continues to lure global investors who can buy oil for a bargain because it is priced in the dollar. There are billions going into the energy markets despite huge surpluses, especially in natural gas.

The U.S. dollar index, which tracks the dollar against other major currencies, is down 14 percent since early March, and crude has jumped by about $20 per barrel.

DESPITE HUGE INVENTORIES, OIL IS VERY EXPENSIVE - BECAUSE US DEBT HAS SKYROCKETED UNDER OBAMA AND THIS HAS WEAKENED THE GREENBACK.

THE DEMOCRATS USED TO ATTACK BUSH FOR SPENDING TOO MUCH IN IRAQ, BUT THEY HAVE SPENT 10 TIMES AS MUCH ON A HOST OF BOONDOGGLES WHICH HAVE DONE NOTHING FOR THE ECONOMY AND NOT MADE US SAFER.

WHY DID THEY DO IT?

CUI BONO?

THE MACHINE.

• IF YOU LIKE EXPENSIVE OIL, HUMONGOUS DEFICITS, HIGH UNEMPLOYMENT AND A WHITE HOUSE STAFFED BY THE RADICAL LEFT, THEN OBAMA IS GREAT.

• OTHERWISE HE'S THE WORST PRESIDENT IN US HISTORY.

• AND GETTING WORSE AND MORE DANGEROUS EVERYDAY.