Over the last 48 hours there has been much speculation as to what President Obama will say during the final State of the Union (SOTU) address of his current term.  Largely it is felt much will be the same.  Excuses will be made to increase future spending while Americans will be delivered a deceitful message of fiscal prudence.  Historically speaking, the final SOTU address in a presidential term is used to launch the tone and agenda for the remaining months of the campaign itself.  Moreover, the avid voter now anticipates these things and understands SOTU rhetoric will be at an all-time high.  Fact checking organizations will place their partisan lean of leniency on the President’s words while others will grossly exaggerate the content and context of the President’s address.  Pretty much, this is political business as usual – until you venture into what the President does not say.

Understated unemployment versus the reality of under employment

It is anticipated President Obama will boast December’s 8.5% unemployment numbers.  What will not be addressed is the nation’s real unemployment conundrum.  To the average American, 8.5% unemployment means little.  The actual impact of unemployment is more accurately measured in terms defined under the (U6) figure that also counts Americans that have been unemployed for more than a year and Americans that are working part-time jobs in attempts to make ends meet.  Lost in the translation in the unemployment numbers of 8.5% are the discouraged worker and underemployed worker that is not only working more jobs for less income, but now has an increased financial liability of new expenses to cover the loss of benefits typically associated with full-time employment.  The Obama Administration wishes Americans to believe things are "better," even if they are not directly affected by any of the Obama Administration's "improvements.”  Not freely disclosed is the fact that America’s true unemployment percentage is far closer to 25% than it is 8.5%.  Section (U6) of the Bureau of Labor and Statistics’ true unemployment numbers actually ring in at well over 22%.  Unfortunately for all Americans and especially unemployed and under employed Americans, their dollars are getting them less and less under the Federal Reserve’s (Fed) unchecked and unabated process of quantitative easing. 

The need to ease "quantitative easing”

President Obama is highly unlikely to tell Americans they face a continued assault of Inflation Tax.  Richard Penny of the Black Sheep Report sums up the Inflation Tax quite nicely.  "The Federal Reserve can print money anytime they like. They have no oversight and have never been audited.  This means anytime the Federal Reserve likes, it can print loads of money, thus devaluing your money.”  Under the Obama Administration, the process of "quantitative easing” has devalued the U.S. Dollar during a time in which the citizenry need more value in currency than ever before. 

The intent of the Obama Administration is to surge this devalued money into banks allowing them to approve more loans to so stimulate the economy.  It is hoped that consumers will return to the reckless spending habits of the past as they acquire increasing levels of more readily available debt.  This in time will create yet another economic bubble that government will likely seek to again correct with another Keynesian stimulus program.  The idea of quantitative easing is printing money to amass consumer debt in an attempt to shift irresponsible federal spending back to the consumer to pave the way for even more future federal spending while the Obama Administration takes credit for investing in America’s "too big to fail” banks; banks that will soon be rewarded a relief for predatory lending behaviors that many may find the most shocking of President Obama’s attack on personal long term savings.

American pensions to be unconstitutionally awarded to banks

This past weekend the rhetoric over the highly anticipated foreclosure fraud deal being led by HUD and Department of Justice along with both state and federal regulators, came to head which may very well be addressed during the SOTU.  The fact of the matter is that the Obama Administration is still functioning under the guise that is wiser to cover up infractions by the economic and political elite to prevent a destabilization than it is to hold a tone of equal accountability for all.  Bond and pension holders have called for a formal audit of the mortgage industry to protect their investors and investments.  Unfortunately, the foreclosure fraud deal is beginning to liken to that of General Motors where pension holder dollars were sought to be replaced with devalued stock and bond assets killing long term investment gains for investors to create equity for government interests.  An end to the foreclose fraud deal may be near, but again, as it is regularly with the Obama Administration, it is the taxpayer that will held accountable for government’s inept management of fiscal matters that require legal intervention. 

It is clear that expectations are high for this year’s SOTU address.  People will listen attentively for key phrases and buzz words that validate their positions for or against the President.  Sadly, few will objectively listen for truth, and even fewer will consider what is not said.