T J Olson: Obama another Carter
Silverthorne, CO Colorado
Barely weeks into Barack Hussein Obama’s new presidency, and it is already clear who is leading us: an incompetent socialist accompanied by unaccountable children of the Democratic Congress.
At his first press conference last week, Obama can’t even get recent history straight: he warned us against repeating Japan’s “Lost Decade” of the 1990s in our financial crisis ” heedless of the fact that they attempted just what the Democrats are doing today: throw vast sums of money on partisan projects after a financial crisis. Japan “lost” a decade because economic growth stalled for so long from the same policy.
Blogger Wil Wilkerson solicited Harvard economist Robert Barro’s opinion about the roughly $1 trillion “stimulus” bill passed by Congress: “This is probably the worst bill that has been put forward since the 1930s.”
Nor is Barro alone. Even Obama’s own economic advisors like Christina Romer have previously chastised what the new president proposes, and Larry Summers last summer said any stimulus must be timely, targeted, and temporary ” criteria rarely met by this spending bill. People, we are not in a depression, but this kind of talk makes me depressed! But reality may get worse.
The “stimulus” bill lays out the institutional groundwork for rationing health care, paving the way to its nationalization; Obama’s ‘public-private’ scheme for banks saw stocks fall almost 5% Tuesday, and financial stocks much more out of fear of nationalization.
Congratulations, folks! You have elected another Jimmy Carter as president ” except he’s black and completely lacks relevant executive experience. Asks Martin Wolf in London’s Financial Times recently: “Has Barack Obama’s presidency already failed?” We needed a Reagan and elected a Carter instead. How else will Obama repeat Carter’s mistakes? Do you remember the “stagflation” of the 70s?
Will anyone be surprised by how this turns out after four long years?
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