Tuesday, August 4, 2009
After many a disappointment with someone, and especially after a disaster, we may be able to look back at numerous clues that should have warned us that the person we trusted did not deserve our trust. When that person is the President of the United States, the potential for disaster is virtually unlimited. Many people are rightly worried about what this administration's reckless spending will do to the economy in our time and to our children and grandchildren, to whom a staggering national debt will be passed on. But if the worst that Barack Obama does is ruin the economy, then I will breathe a sigh of relief. But the fact is he is heading this country toward disaster on many fronts. This is a president on a mission to remake American society in every aspect, by whatever means are necessary and available. That requires taking all kinds of decisions out of the hands of ordinary Americans and transferring them to Washington elites -- and ultimately the number one elite, Barack Obama himself. Like so many before him who have ruined countries around the world, Obama has a greatly inflated idea of his own capabilities and the capabilities of what can be accomplished by rhetoric or even by political power.
Economist Lawrence Kudlow said this today: "Respected economists like Donald Marron, Keith Hennessey, Bruce Bartlett and Kevin Hassett have all carefully chronicled the fact that the Obama stimulus package does not feature any real fiscal multipliers. They say the bulk of the package consists of transfer payments to individuals and states, along with tax credits that will produce no real incentive effects to spur economic growth. But the fact remains that numerous signs are now pointing to economic recovery. And the GOP needs to craft a smart political response to this. Obama and Biden will surely take credit for the better economic news, just as any White House would. It's the way the political game is played. But Republicans have to play the game, too. A tremendous summer rally is going on in stocks, and it's being driven by better corporate profits and improved leading indicators -- including a possible upturn in housing starts and sales, and a major downward spike in weekly initial jobless claims. So you have to believe the stock market is calling the tune for recovery. And while politics is not everything, I do believe that the shrinking prospects for Obamacare have been a big contributor to the stock market's recent surge. This sweeping new government insurance plan would lead to high-tax-and-spend-and-borrow-and-regulate nationalized health care, a big economic negative. Ditto for nationalizing energy through cap-and-trade-and-tax. If these initiatives fail, it is very bullish for stocks and the economy. ... But the White House is going to take credit for economic recovery anyway, and that's the newest political challenge for the GOP."
"The administration has fulfilled a promise to cut spending by trimming $100 million from the 2009 budget. That's right -- $100 million with an 'm,' an imponderably small slice of this year's expenditures. Back in April, the White House stressed that President Obama, during his first Cabinet meeting, 'made clear that relentlessly cutting out waste was part and parcel of their mission to make the investments necessary for recovery and long-term stability.' Department heads were 'to identify at least $100 million in additional cuts to their administrative budgets.' Three months later, he has gotten his wish: The White House announced on Monday that the goal has been reached. To say such a cut is negligible is an exaggeration in the extreme. To fit that description, a cut first has to be visible. Though it was initially promoted as a seminal moment, this cut doesn't come close to meeting even the most reachable of benchmarks. In fiscal 2009, our federal government will spend nearly $4 trillion, according to the Office of Management and Budget's historical tables. The $100 million cut represents 0.0025% -- less than one one-hundredth of 1% -- of those outlays. ... Now, thanks to the administration's 'relentless' belt-tightening, the deficit will be $1.79999 trillion rather than $1.8 trillion."
"With respect to the two words 'general welfare,' I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators." --James Madison
"Our struggle for nationhood, our unrelenting fight for freedom, our very existence -- these have all rested on the assurance that you must be free to shape your life as you are best able to, that no one can stop you from reaching higher or take from you the creativity that has made America the envy of mankind." - Ronald Reagan
Vote Democrat, it’s easier than thinking.