“This bill stinks,” said normally soft-spoken, moderate, pro-Obama Republican US senator Lindsay Graham of South Carolina about the Obama economic stimulus plan which had reached more than $900 billion.
And so begins the conclusion of all the good feeling in Washington over the election of Obama. And so begins the end of The Perfect Presidency less than 3 weeks in.
On the same day as Graham’s comments, Obama said that “we must put aside gamesmanship” to pass the bill, with that flash of darkness in his eyes. And thus Obama’s veneer of confidence and invincibility has been stripped away, and Obama is feeling weak.
Is he having that sinking feeling yet?
He should be. Because even the nonpartisan Congressional Budget Office is saying that Obama’s $780 billion plan will ultimately create so much debt that any positive short-term effects will be canceled out and reversed over the long run. Meanwhile Obama is trash-talking the economy in the most dire terms to try and ram the bill through. This is abhorrent. The president is supposed to lead with optimism, not fear. But the stock market has repeatedly tanked after Obama’s election and on his inauguration day, and so there is no real confidence and Obama knows his options are becoming more and more limited. So he is resorting to fear.
This is a bad sign for America, but something that conservatives warned about: When the far left takes power – particularly in the form of someone so inexperienced as Obama – it is going to divide the nation and stir anger and confusion. And when Obama’s popularity plunges, it could lead him to do rash things and cause the country much woe, just as a cornered animal strikes out at anyone who threatens it.
This whole stimulus fiasco is a huge boondoggle and the public has caught on. Favorability ratings for the package are plummeting by the day, and it should be interesting to see the Obama poll numbers now that he really is president.
The start of Obama’s presidency has been one mistake after another – the garbled oath of office, questionable cabinet nominees, scandal in Illinois and now the stimulus fiasco. It is like the start of Clinton’s presidency when inexperienced staff were said by one insider to be sitting around “with their feet in the pizza boxes” trying to figure out what to do with all the power they suddenly had inherited.
And since the real final curtain of the Clinton presidency was 9/11 – made possible by eight full years of national security neglect – Obama’s 4-year presidency may be more of the same Democrat failure. While Carter’s presidency blew up over economic failure and the hostage crisis in Teheran, Obama’s could end up with a much worse economic Waterloo and those same radicals gaining access to nuclear weapons. And that ending is terrifying.
Unemployment jumped to 7.6% in January with the loss of 598,000 jobs, the most since 1974. Interestingly, socialistic Europe – which Obamamaniacs seem to think is a much better place than America – has been grappling with official 6% to 12% unemployment for decades now, and real unemployment much worse. Genuine economists have explained repeatedly that socialism causes unemployment, while liberal economists say it solves it. The proof, however, is in the pudding.
“These numbers, and the very real suffering of American workers they represent, reinforce the need for bold fiscal action,” said Christina Romer, chief of the White House’s Council of Economic Advisers about the January unemployment. “If we fail to act, we are likely to lose millions more jobs and the unemployment rate could reach double digits.”
Double digits… That’s a walk in the park for Europe. And the reports that economists “expected” the January losses of only 524,000 is another media construct. Since when do economists agree on anything? As the old saying goes, “Put 1,000 economists end to end and they will not reach a conclusion.”
This is a media tactic every month – to present the “expected” figures and then express shock when they do not match the actual figures. This is done in order to give editorial writers and college professors something to fill their time with. After all, that is their business – to reconcile every potemkin detail in their potemkin world with their potemkin solutions.
The question now becomes: With the whole world suffering, why is this happening because America has tumbled economically?
Answer: Because Evil Capitalist America indeed is the economic engine of the world. And when America sneezes, the world catches cold.
So why can’t the world rely on Europe, Japan, Canada, Australia and the other industrialized nations for growth now that America is weak?
Because those high-tax, low-growth socialistic nations are economically anemic, can barely employ their own people and have limited influence on the world economy. Expecting their economic help would be like asking France to lend a hand fighting off an invading army.
Mitt Romney, the Republican presidential candidate in 2008, recently wrote that the Obama stimulus plan will not stimulate the economy, but will only stimulate government. He made the following points:
*That taxing less is better than spending more. Check.
*The spending should be limited to programs that already were essential government priorities including the replacement of military hardware lost in Afghanistan and Iraq. Check.
*That tax rebates – what Obama called his “tax cut for the middle class” – will not work. They are not enough and only have short-term impact, like the Bush rebates of May 2008. Real long-term tax rate reductions are an infinitely more effective means of stimulating economic growth, says Romney. Check.
*That federal entitlement spending must be controlled. Check.
*That taxes must be reduced on capital gains and other capital formation tools in order to create a climate for new capital formation and economic rebound. Check.
Romney is dead right and Obama is dead wrong.
Any chance we could play the 2008 election over again? Or will we see it in 2012?
Please visit my website at www.nikitas3.com for more. You can print out for free my book, Right Is Right, which explains why only conservatism can maintain our freedom and prosperity.