Posted on 02/17/2009 5:56:33 PM PST by Kaslin
Politics: In his first month, President Obama has talked down the economy and engineered a huge surge in federal spending. Now the bills will come due. The pain may be just beginning.
Do we overstate the case? We'll just say this: Franklin D. Roosevelt made his share of missteps but understood the need to calm a frightened nation and restore confidence. If that meant closing the banks, so be it. Anything to stop the panic.
Barack Obama, inheriting a situation not even close to what FDR beheld, talks as if the nation isn't scared enough. He pushed a vast peacetime spending bill through Congress by warning of "catastrophe" if it failed to pass. But where boldness had been needed — with the banks — only vague work-in-progress is on offer.
With a performance like this, and Obama only a month in office, the markets are noticing. We see the Dow industrials down about 8% from the pre-inaugural close and off more than 20% from Election Day. Wall Street — and Main Street — had hoped for strong, reassuring leadership. Instead, we have a presidency "spinning the bad news story," as Cato Institute economist Steve Hanke puts it.
As details of the "stimulus" bill signed Tuesday emerge, it's also become clear that little is there to jump-start the economy. It's more like a herd of Trojan horses designed to re-institute the costly welfare state that Ronald Reagan and even Bill Clinton dismantled.
(Excerpt) Read more at ibdeditorials.com ...
Di they have a right to loot money we do not have? Please tell us, where is this money going to come from? The people who do not work cannot pay this enormous debt.
Problem is...they are patterning their moves on what FDR did. But Zero is no FDR and we live in a post-commie era; history's an open book now on how communism failed.
The Rats are going to be exposed. I hope very early and very often.
The pain and frustration in your questions is palpable. We are all feeling it....because we love our nation and we are watching its destruction.
Amerika deserves every last penny of this disaster, remember they wanted CHANGE... now these fools can reap what they sowed.
Yep. Too bad places like IBD and the Wall Street Journal are the only press that will mention Obama’s (intentional, IMO) sabotage. Obama has been much worse than I expected, and I expected an America-hating far-leftist.
Shame on you. Don’t you know money grows on trees? /s>
Wait a minute. You are acting like the 0 won in a landslide. He did not. America does not deserve this disaster, only those who voted for him do, Unfortunately though we all have to suffer for it
We all know people who served and even died for the freedoms in this country. These socialists are spitting on those great people.
Every idiot who voted for Obama deserves this, the children who will inherit the mess do not.
I think they all died in vain. They had their guts blown out by bullets just so that a generation of spoiled brats could whine about how hard they have it and throw away everything.
Yep - not to mention that “the one” has kicked over the economic table in this country.
I remember when the idea of an unpatriotic, anti-American President was inconceivable. This president is also disrespectful to his saluting military guards.
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Tell more....re: saluting...
No troops in AFGHANISTAN!! I don’t want our boys, who many are RED, WHITE, AND BLUE!! Dying for socialism.
He doesn’t return the salute or acknowledge them in any way and just slouches by.
Oh...my....at least Clinton made an effort. Makes me sick. Because....I believe he truly is a Trojan Horse....
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