Why Obama's Economy Won't Improve

Townhall.com ^ | August 2, 2011 | Mona Charen

[Kaslin]

There are some on the right who believe that Barack Obama is intentionally steering the United States into disaster -- that he privately rejoices in the dismal economy because it partially fulfills his objective to bring the country down.

This strikes me as, at the very least, overwrought. One would have to accept the idea that Gene Sperling, Timothy Geithner and the president clapped one another on the back when the latest GDP figures arrived. ".04 percent growth in the first quarter. 1.3 percent last quarter. Way to go! We'll be in recession again in no time."

Not likely. The president and his team were no doubt surprised and dismayed by the economy's poor performance in the past six months. The president, after all, has announced for re-election. The country was supposed to be well into the Obama recovery by now. Actually, the summer of 2010 was going to be, the Obama administration promised, "recovery summer."

The president's team has taken to offering ever more creative explanations for the economy's weakness. It was George Bush's fault, or a "bump in the road," or a response to the Eurozone crisis, or a consequence of the Japanese earthquake and tsunami, or a result of the drought in the southwest. It's reminiscent of the old Soviet Union's explanation that for the 69th, 70th and 71st consecutive year, poor weather had caused a bad harvest.

The president and his economic advisers should not be surprised, though, because this administration has not been about growth -- it has been about "fairness." And in the name of fairness, it has created the most anti-business climate since Franklin D. Roosevelt's administration. As Steve Wynn, CEO of Wynn Resorts, recently complained:

"I'm saying it bluntly, that this administration is the greatest wet blanket to business and progress and job creation in my lifetime. And I can prove it, and I could spend the next three hours giving you examples of all of us in this marketplace that are frightened to death about all the new regulations, our health care costs escalate, regulations coming from left and right."

It's not that the president wants to hurt the country; it's that he believes that the best things the country has ever done have been done by government. "We do big things," he said in his State of the Union address in January. But when enumerating those things, he focused on the things government has done -- building the interstate highway system, setting up the Internet, funding education. (Oh, do we ever fund education!) And that's what he wants more of:

"Over the last two years, we have begun rebuilding for the 21st century, a project that has meant thousands of good jobs for the hard-hit construction industry. Tonight, I'm proposing that we redouble these efforts._ We will put more Americans to work repairing crumbling roads and bridges. We will make sure this is fully paid for, attract private investment, and pick projects based on what's best for the economy, not politicians._ Within 25 years, our goal is to give 80 percent of Americans access to high-speed rail, which could allow you to go places in half the time it takes to travel by car."

The president is dazzled by the vision of those shiny high-speed rail trains -- and by solar panels, electric cars and other pet projects that have caught his imagination. What he has been unwilling to do is to permit the vast private sector to make its own decisions -- to follow its own ideas.

Instead, the administration has been saddling the private sector with a stifling load of regulations. The burden of Obamacare, most of which does not take effect until 2014, is mostly in the realm of fear and uncertainty. Employers do not know how much each new hire will cost under the new health care regime. Nor can they estimate how the 129 new boards, commissions and agencies will affect the business world.

Meanwhile, the EPA is regulating carbon dioxide as an air pollutant. The NLRB is attempting to prevent the Boeing Corporation from opening a new plant in South Carolina. The FCC is seeking to exert control over Internet commerce through the deceptively named "net neutrality" policy. The Department of Labor is strictly enforcing racial and gender quotas. And the Federal Reserve, along with the new Consumer Financial Protection Bureau (created by the Dodd-Frank law) is practically freezing small-business lending.

This president has spun fantasies about the industries of tomorrow, while punishing the industries of today. His fulminations against "millionaires and billionaires" and his wrath about "corporate jets" betray a fundamentally childish urge to punish success. Under his economic stewardship, there is less and less of that around.

[Tax-chick]

Mona, like all of us, is facing the “evil or stupid” conundrum. She seems to have come down on the side of “stupid.”

Doesn’t matter, really, because the outcome will be the same.

[marstegreg]

Having the vast experience in running an economy in their classrooms, more than likely they are just scratching their heads. Perhaps that is why they were chosen.

[Jacquerie]

The goal is equality in misery, ‘cept Party Members of course.

[G Larry]

“One would have to accept the idea that Gene Sperling, Timothy Geithner and the president clapped one another on the back when the latest GDP figures arrived.”

No, Mona, only Obama need know his true objectives. He simply lies to Gene and Tim, telling them the policies he wants implemented, while pretending noble intent.

Read Obama’s books and you will learn of his hatred for America.

[Scanian]

Sperling, Geithner & Co. are merely tools. They get their socialist marching orders from Obozo and he sits back and watches the predictable trainwreck.

No doubt in my mind that 0 wants to wreck the country. That sort of thinking has been drilled into his skull from the cradle. The rest of the crew just do as they’re told (as 0 likely takes his orders from higher authorities).

[mbynack]

Thanks for posting. It was a good read.

[Pietro]

Anyone that listened to Rev. Wrong knew that he was not a Christian nor was he interested in redemption.

The wrong reverend was only interested in retribution and so it is w/ his most (in)famous acolyte.

[Kaslin]

You’re welcome

[caver]

I thought Mona was smarter than this. He is deliberately killing the economy. That’s why these shovel ready jobs are for union memebers only, and they only make up 15% of the work force. That is also why he is saddling the private workforce with more restrictions and regulations.

[mo]

Nobody in DC wants to correlate the rising debt ceiling with declining jobs.

The rising debt ceiling has two consequences....

more regulation ...

to occupy employees in expanding federal bureaucracies...which expand because “they have more money” and another layer of bureaucrats need their 20 year promotions... Each round of regulatory expansion is the effective equivalent of another targeted tax increase on the object of the regulation.

more taxes...

The rising debt ceiling has demands and expectations of creditors for new elements of “revenue raising” by the Feds...taxes or fees.

In this strangling environment job creation is simply NOT possible.

In fact the only logical conclusion..can be ..is that the Federal apparatus -initially an asset to the United States..by virtue of its abilities to raise an effective Navy in the late 1700’s, and early 1800’s to facilitate overseas trade on behalf of the States, has become nothing other than the States greatest liability at this point in time. In the absence of profound regulatory and taxation reform-which is not capable of coming from the same minds that created the problem..we may well be at the end of the line.

For DC to face this fact...means the end of the K St-Congressional Party cycle in DC-the one that keeps repeating “2.4Trillion” as their mantra.

IMHO...the only solution is a 50 state secession from DC at this point...with a completely new “Constitutional Re-Federalization”..

[jennings2004]

“...overwrought...” If you are not overwrought with what is going on in our Country now, just when do you think you might reach that point???? When the greatest military force in the world is gutted??? Will that work? Wake up idiot!....

Interesting choice of words...I use this one almost every day! /s

[MulberryDraw]

a fundamentally childish urge to punish success

and to reward himself because the universe revolves around him. All else is inferior.

[Mr Ramsbotham]

This strikes me as, at the very least, overwrought. One would have to accept the idea that Gene Sperling, Timothy Geithner and the president clapped one another on the back when the latest GDP figures arrived.

Or that Hitler, Goring and Goebbels congratulated one another on the overthrow of Poland.

[RayChuang88]

Until we get this implemented:

A two-point plan for economic recovery and growth

Our economy will NOT improve, not when we have problems of too much government spending, too many economy-sapping regulations, and a business-unfriendly income tax system.

[Scotswife]

Whenever an Obamaspeech wanders into this territory I cringe even harder than during the rest of the speech....

“We will put more Americans to work repairing crumbling roads and bridges. We will make sure this is fully paid for, attract private investment, and pick projects based on what’s best for the economy, not politicians.”

I think to myself “oh goody! after our kids get their college degrees - maybe they can get a job working on those roads and bridges! whoopeee!”

Really - he makes it sound like a gazillion people will be more than happy to head to the local obamaproject in town to fix potholes.

He demonizes wealthy people while he singlehandedly destroys their wealth.

[Kartographer]

OBAMAVILLE

Gett’n a head fake,
watchin' msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood--
It’s beginnin' to boil.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it's Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven't a clue.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,-- hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it's my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it's my own damn fault damn fault.

[Eagle of Liberty]

- Large majority of Stimulus funds went to prop up state and local governments along with the education sector.

- Public unemployment rate vs Private unemployment rate is not even close

- We have a President that ridicules Job Creators at every turn

- We have a President that will NOT change direction in his losing battle with the economy

For these reasons and a few more, I do believe that Obama is MIHOPing the economy.

[Eagle of Liberty]

This president has spun fantasies about the industries of tomorrow, while punishing the industries of today. His fulminations against "millionaires and billionaires" and his wrath about "corporate jets" betray a fundamentally childish urge to punish success. Under his economic stewardship, there is less and less of that around.

So, is she saying that Obama is an idiot, because there are really only two choices here and she eliminated one choice in her opening sentence.

[_a_0_0_]

Oh but wait, haven't you read -- Confidence in Obama’s Economy Rising for Frustrated Employees (bloomberg -- spinning very fast - you might need an air-sickness bag)?