And now Obama says he’s not worried about a double-dip recession. Easy for him to say: For Americans not feeding at the government trough, the first recession never ended. We are witnessing the total failure of academic Keynesian economics, with its heavy emphasis on high taxes and exorbitant government spending.
-Michael A. Walsh (NY Post)
So Harry Blodget of Business Insider asks what the Democratic Party hopes will be a helpful question? Are Republicans Intentionally Sabotaging The Economy For Political Gain? It’s an interesting theory and perhaps the makings of an excuse for the profoundly inexcusable. You see according to Harry Blodget’s friend and colleague Dan Gross, the GOP is on an economic sapping mission in the run-up to the 2012 Elections.
Republicans are doing everything they can to ensure that the economy remains a mess when it comes time for the 2012 election. The Republican hope here, Dan explains, is that Americans will vote with their wallets in 2012–and, in so doing, vote more Democrats out of office.
This thesis explains several things. The Republicans do evil things like propose and pass budgets. Since 2009, no Democratic Party controlled body of the US Congress has successfully passed one. Pelosi whiffed in 2010, and Harry Reid’s Band of Bothers is running 770 days behind schedule. John Boehner got his done in the appropriate allotted time.
One prime example of economic sabotage involves The Boeing Company’s efforts to open a new airplane factory in Charleston, SC. The Obama NLRB has done everything in its power to prevent Boeing Company from opening a new, modern aircraft manufacturing plant in Charleston, SC. South Carolina has been among the top ten states in unemployment for pretty much the entire time President Obama has been in office. Yet still, his NLRB fights to prevent economic progress.
I guess the GOP complaints about people getting ObamaCare waivers could be a bone of contention. Of course, the Dems could have given all of America a break, and not passed that horrendous law in the first place. If you have to give over 1,000 of your closest buddies exemptions to your signature piece of social legislation, that’s a pretty solid hint that it probably wasn’t quite the brilliant idea that it was originally advertised as.
As unemployment crossed back over 9.0% even as the work force remained six million smaller than it was when President Obama came into office, almost all of this administration’s original economic team has bailed and parachuted to the safety of the academic groves and the Left-Leaning think-tanks. Only Sec Treasury Timothy Geithner continues to man the trenches. But no, this has nothing to do with why the misery persists. Obviously, the GOP is deliberately sabotaging everything.
There is a more intelligent, probative answer to why the suck pervades our national economic life. Jim Rogers offered it on CNBC yesterday.
“The debts that are in this country are skyrocketing,” he said. “In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt. “When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around.”
No mention of GOP economic Kamikaze flights leaving the tarmac yet. Rodgers ponders on.
“The U.S. is the largest debtor nation in the history of the world,” he said. “The debts are going through the roof. Would you keep lending money to somebody who’s spending money and not doing anything about it? No you wouldn’t.”
So there you have it. The Democrats have controlled at least one if not both houses of Congress since 2006. They have held the White House since 2008. They have spent every dollar we have and humongous piles of dollars that don’t even exist yet but have been borrowed to our future detriment. In return for all of this benefice, we are now EBT Card Nation. With the political process preparing to gear up, and the sitting president’s approval rating in the toilet along with his economic plans, it’s no big surprise we hear outraged accusations of GOP economic sabotage.