Wednesday, August 11, 2010

Obama's "Mission Accomplished" Moment

Today everyone is a spin doctor. Secretary of the Treasury Timothy F. Geithner does his part for Obama in the New York Times (of course), in his Op-Ed piece "Welcome to the Recovery." For being tone-deaf and clueless, this is a prize winner.

It's a "blame it on Bush" piece, conveniently overlooking that Democrats controlled Congress for two years before the recession bit, and that Barney Frank, the Congressional Black Caucus, Franklin Delano Raines, and the clowns at Fanny Mae and Freddy Mac sowed the seeds and nurtured the crop of mortgage malpractice activities, then attempted to "wash their hands" of any and all responsibility.

Hitting with great backspin, Newt Gingrich has an article with superb charts (click on the links) chronicling the "Indisputable Failure" of Obamanomics. There's the Obama Jobs Gap, the Obama Jobs Deficit, and a comparison with past recessions and recoveries.

Democrats suffer from schizophrenia about government stimulus. They say Bush's was bad, but about half of Democrats think Obama passed TARP instead of Bush, and think that was good.

From one of the least likely sources, an article by Fareed Zakaria in Newsweek, "Obama's CEO Problem," we find that the major problem is not government inaction, but the threat of government action. Zakaria admits that government cannot do what business can to end the recession, and that what is holding business back is uncertainty concerning taxes and regulation.

"The key to a sustainable recovery and robust economic growth," wrote Zakaria, "is to get companies to start investing in America." And why won't they? One CEO told Zakaria about uncertainty about government actions, “Almost every agency we deal with has announced some expansion of its authority, which naturally makes me concerned about what’s in store for us for the future.”

We don't need the government to take our money, then give it back to its chosen winners. That's the path to making us all losers.

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