econarchy

14. February 2009

Obama: Fearmonger in Chief

Filed under: opinion, liberals, economic stimulus, obama — Me @ 16:37

Hope? Try Hopelessness. Transparency? Try total secrecy and threats. Leadership? How about caving in to politics as usual. Obama is a failed President. Already. Yes, I said it. I mean, I know we are still giving the guy on-the-job training since he has less work experience than the lady helping you find the pooper scoopers at your local Wal-Mart, but Obama is nothing but a mouthpiece for rhetoric. Now he is touring the nation giving his stump speeches, probably because that is all he knows how to do. Hey Obama, the campaign is over! How about rather than travel around giving speaches you get to the Hill and tell Pelosi it may be wise to postpone her little junked to Rome to, you know, DO YOUR JOB!!!!

But that takes leadership, and Obama is an empty bag of hot air. This piece from the WSJ Editorial sums it up quite nicely.

“President Barack Obama has turned fearmongering into an art form. He has repeatedly raised the specter of another Great Depression. First, he did so to win votes in the November election. He has done so again recently to sway congressional votes for his stimulus package.

[Commentary] AP

In his remarks, every gloomy statistic on the economy becomes a harbinger of doom. As he tells it, today’s economy is the worst since the Great Depression. Without his Recovery and Reinvestment Act, he says, the economy will fall back into that abyss and may never recover.

This fearmongering may be good politics, but it is bad history and bad economics. It is bad history because our current economic woes don’t come close to those of the 1930s. At worst, a comparison to the 1981-82 recession might be appropriate. Consider the job losses that Mr. Obama always cites. In the last year, the U.S. economy shed 3.4 million jobs. That’s a grim statistic for sure, but represents just 2.2% of the labor force. From November 1981 to October 1982, 2.4 million jobs were lost — fewer in number than today, but the labor force was smaller. So 1981-82 job losses totaled 2.2% of the labor force, the same as now.”

 

Hmmm…. I always thought that the Democrat’s campaigned against using Fear to pursuade people and win support. So much for that idea. “Do as I say, or else!” seems to be Obama’s new slogan.

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