Obama Proposes No New Economic Plan


This afternoon, Obama delivered another jobs speech in the key swing state of Ohio.  In it, he attempted to draw a contrast with his view of the economy and Mitt Romney’s.  All of the usual characterizations of his opponent were there, but there was one glaring omission:  his own economic plan.


Even  The Atlantic noticed the absence.


“President Obama spoke for 54 minutes and there was not one new idea about how to fix the economy,” House Majority Leader Cantor tweeted in response to President Obama’s big campaign speech in Ohio Thursday, and he was right!


Part of that is probably because there really isn’t much Obama can promise as long as Republicans have control of Congress.  There are little things he can do, like extend already existing tax breaks.  But there’s very little chance that another stimulus bill will pass, and his budget received zero votes in the Senate.


So his plan to create jobs appears to consist of giving speeches and attacking Mitt Romney.


Obama went so far as to make his economic argument personal, saying that Romney, who is worth between $190 million and $255 million, according to his campaign, would benefit financially from the very income tax cuts he is proposing.

“I don’t believe that giving someone like Mr. Romney another huge tax cut is worth ending the guarantee we always provided the elderly,” Obama said.

Obama cited a laundry list of programs — science, education, green energy programs — that could be cut under a Romney presidency and a Republican Congress. He said the GOP would “eventually end (Medicare) as we know it.”


It’s hard to see how anybody could be confident that the economy will improve under the tenure of somebody with no plan to do anything, and whose attitude seems to be aligned with the cause of attacking someone who does.  Indeed, even Obama’s own advisors no longer seem to believe that the economy will improve as long as their boss is in charge.


Once a President has lost the faith of their own staff, it’s hard to see how they can feel earnest asking for another term in office.  Maybe it isn’t all Obama’s fault.  Maybe he was elected at an unfortunate moment in time.  Maybe Congressional Republicans haven’t been the greatest negotiating partners.  There are a lot of maybes, but there is one certainty:  three and a half years into a Presidency is not when the lame duck session is supposed to start if re-election is imminent.  There is definitely an opening for the challenger to win the election this cycle, it’s just up to Mitt Romney to step up to the plate and do it.

Watch this video.

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