Source: Wikipedia

The national unemployment rate is currently 9.5%. We learned this morning that new jobless claims jumped to a half-million last week, hitting the highest level since November 2009. Bankruptcies rose by 9 percent in the second quarter of 2010. China is dumping dollar reserves for euros. And that’s just the bad news on the economic front.

When we turn our attention to foreign policy, Iran is taking its next step towards acquiring nuclear weapons. North Korea is threatening all-out war against South Korea and its allies, which would include the United States. The war in Afghanistan is heating up with casualties are on the rise. Millions of Pakistanis are trying to stay alive after devastating floods struck a region of their country; now the Taliban is wooing the population with food and other assistance.

On the fiscal front, we have record deficits and debts. We owe more than $13 trillion to both domestic and foreign sources, including to countries like China. The national deficit is $1.4 trillion and will only grow thanks to new Democratic spending promises. Social Security is teetering on the edge, Medicare is doing worse, and our national unfunded liabilities total more than $110 trillion.

So, where is the President of the United States? Barack Obama is, according to CBS News, beginning his latest vacation. Mark Knoller reports that Obama will today begin a 10-day stay in Martha’s Vineyard — the northeastern island best known for its millionaire and billionaire patrons. It’s a playground for the rich and powerful.

This will be Obama’s second trip to the Vineyard since taking office and his ninth overall vacation, also according to Knoller. And who could blame him? The economy is in shambles, our standing in the world has been diminished significantly, and we’re in the worst fiscal shape in history. Clearly Obama deserves a vacation.