It's doubtful the message makers in the White House found any humor in the Daily Show's Jon Stewart comparing President Obama to a "tax credit Oprah". While the Comedy Central funnyman is right to diagnose Oprah style giveaways as a symptom of why Obamanomics is failing, we should look to Major Phil Cannella and George Donner to find the disease.
Major Cannella was never an A list celebrity, but his words live on as an example of how good people can bring disaster by slavishly following misguided policies. When your mission can be summed up as "It became necessary to destroy the village in order to save it." failure can be the only result. As in Vietnam, President Obama's effort to "fundamentally transform America" will end badly.
In January the Heritage Foundation and the Wall Street Journal released their Index of Economic Freedom. In it the United States fell to tenth place, indeed we have slipped every year of President Obama's rule as we were ranked sixth in 2009. They attributed our loss of freedom to "rapid expansion of government, more than any market factor, appears to be responsible for flagging economic dynamism." An easy way to gauge the effect of Obamanomics is to compare the first ten quarters of the Reagan recovery with our current economy. Under Reagan the economy grew sixteen percent, under Obama just six. If we were to follow Reagan's policies today the country could be $1.2 trillion wealthier and ten million currently unemployed Americans would have jobs. Instead, President Obama continues implementing policies that promote fairness over growth while our country declines.
If not for his fateful decision to take the Hasting's shortcut the name of Mr. Donner would be lost to history. While it took getting snowbound for the settlers to resort to cannibalism, letting the well-healed feast on taxpayers is a feature of Obamanomics. In a report the Washington Post found "Obama’s green-technology program was infused with politics at every level" and their Robert Samuelson called the rejection of the Keystone pipeline "an act of national insanity.". Maybe Mr. Samuelson was unaware that Obama's billionaire crony Warren Buffet, who just happens to own the Burlington Northern railroad stands to reap a financial windfall with the pipeline's demise. The author Peter Schweizer finds that fifteen companies that are either run or owned by financial backers of President Obama received $16.4 billion in government guaranteed loans. So far the cost to taxpayers: Solyndra $527 million, Ener1 $118 million, Beacon Power $43 million and CBS news found there are eleven more Solyndra's that could cost taxpayers $6.5 billion.
As the socialist Amon Rubinstein said “On the whole, those systems that have put liberty ahead of equality have done better by equality than those that have put equality above liberty.". Come November we can keep a president devoted to seeing our economic freedom slip slide away taking growth and jobs with it. Or we can send him back to Chicago with Oprah, Rahm and Alinsky's ghost.
Showing posts with label Obamanomics. Show all posts
Showing posts with label Obamanomics. Show all posts
Thursday, February 2, 2012
Thursday, February 3, 2011
Same Old Obama
Will.i.am of the Black Eyed Peas gets it. Why doesn't the media? With his Super shout out for Obama's efforts to keep the country "stimulated", will understands that our president's policies represent more of the same. Because his earlier argument that spending is stimulus didn't sell with the public, we have "investments" to "win the future"(lifted from Newt). This is simply more big spending by Big Government that benefits Big Business(and his fundraising) at the expense of America's working and middle classes.
Appointing Jeff Immelt of GE as jobs czar has been hailed by the media as proof of the president's centrist bona fides. But Immelt personifies "crony" in the crony capitalism that is Obamanomics. "In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner." Those aren't the words of a believer in the free market or a champion of small business. Immelt supports cap and trade while pocketing a $400 million taxpayer subsidized loan to sell windmills. This administration is going all in on windmills and electric cars, but our 389 windfarms are producing electricity at less than 20% of their capacity. They aren't the path to prosperity, in fact Robert F. Kennedy Jr. believes that Cape Wind will result in over $4 billion in extra costs for consumers. Meanwhile, American drivers are paying over $3 for gas with analysts seeing it soon reaching $5 a gallon. To help promote our adoption of green technologies, Energy Secretary Chu wants us to be paying $7 or more.
The skyrocketing costs of education are threatening to put a degree out of reach for all but the wealthiest Americans. One hundred colleges now charge at least $50,000 a year, only five did so as recently as 2008. It may surprise students and their parents to learn that university administrative costs have increased 61%, essentially swallowing the massive increases in financial aid. All those extra bureacrats have been good to the president though, the University of CA was his number one contributor and Harvard was number three. Instead of pushing to reform the system, the president proposes to continue throwing more money at it, gauranteeing that costs will continue to increase along with his campaign warchest. The same dynamic applies to K-12 spending. The Mercatus Center found that we spend an average of $91,700 per pupil between grades 1-9, yet our students score lower than countries that spend much less. Again, the president just wants to throw good money after bad without making necessary reforms for fear of upsetting the teachers' unions and their PAC's that will contribute millions to his campaign.
We also have the 700+ waivers for Obamacare, 40% of them going to unions that contributed $25 million to the president. Are you seeing a pattern yet?
President Obama isn't, and will never be the pragmatic centrist of the media's fantasies. If this ploy to repackage the same failed policies that have done nothing but run up record deficits, $1.5 trillion this year, doesn't convince the American public to see the light, he'll try again, because he's never wrong. The next time there'll be $1 billion of Wall St., Environmentalist and Organized Labor dough to spend communicating to the bitter clingers of Middle America in borrowed Republican language that he's courageously standing(T-Paw), without apologizing(Mitt) for freezing his 24% increase in discretionary spending in place, cutting a pitiful $775 million when 40 cents of every dollar spent is borrowed(almost $5 billion a day) and rocketing our national debt to $20 trillion and beyond. All for our benefit of course.
Appointing Jeff Immelt of GE as jobs czar has been hailed by the media as proof of the president's centrist bona fides. But Immelt personifies "crony" in the crony capitalism that is Obamanomics. "In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner." Those aren't the words of a believer in the free market or a champion of small business. Immelt supports cap and trade while pocketing a $400 million taxpayer subsidized loan to sell windmills. This administration is going all in on windmills and electric cars, but our 389 windfarms are producing electricity at less than 20% of their capacity. They aren't the path to prosperity, in fact Robert F. Kennedy Jr. believes that Cape Wind will result in over $4 billion in extra costs for consumers. Meanwhile, American drivers are paying over $3 for gas with analysts seeing it soon reaching $5 a gallon. To help promote our adoption of green technologies, Energy Secretary Chu wants us to be paying $7 or more.
The skyrocketing costs of education are threatening to put a degree out of reach for all but the wealthiest Americans. One hundred colleges now charge at least $50,000 a year, only five did so as recently as 2008. It may surprise students and their parents to learn that university administrative costs have increased 61%, essentially swallowing the massive increases in financial aid. All those extra bureacrats have been good to the president though, the University of CA was his number one contributor and Harvard was number three. Instead of pushing to reform the system, the president proposes to continue throwing more money at it, gauranteeing that costs will continue to increase along with his campaign warchest. The same dynamic applies to K-12 spending. The Mercatus Center found that we spend an average of $91,700 per pupil between grades 1-9, yet our students score lower than countries that spend much less. Again, the president just wants to throw good money after bad without making necessary reforms for fear of upsetting the teachers' unions and their PAC's that will contribute millions to his campaign.
We also have the 700+ waivers for Obamacare, 40% of them going to unions that contributed $25 million to the president. Are you seeing a pattern yet?
President Obama isn't, and will never be the pragmatic centrist of the media's fantasies. If this ploy to repackage the same failed policies that have done nothing but run up record deficits, $1.5 trillion this year, doesn't convince the American public to see the light, he'll try again, because he's never wrong. The next time there'll be $1 billion of Wall St., Environmentalist and Organized Labor dough to spend communicating to the bitter clingers of Middle America in borrowed Republican language that he's courageously standing(T-Paw), without apologizing(Mitt) for freezing his 24% increase in discretionary spending in place, cutting a pitiful $775 million when 40 cents of every dollar spent is borrowed(almost $5 billion a day) and rocketing our national debt to $20 trillion and beyond. All for our benefit of course.
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