Obama’s spending is no “recovery” plan, but pure liberal policy
Green programs don’t save economies. Light rails in dying cities don’t save economies. Researching frogs don’t save economies. Promoting the “arts” does not save economies.
Obama’s spending program, the largest non-war spending bill ever, is simply a gift to the liberals and little more. It is a gift to the eco-hippies, the artsy crowd, and the social welfare supporters. I don’t even think that is up for debate; just look at where the money is going.
What really frustrates me is Obama’s outright disdain and disrespect for the stock markets. They have clearly shown their disgust of this administration (the market is down 31% since election day - a truly shocking figure in just 4 months.) What liberals fail to realize is that the stock market is the home of the retirement investments of millions of Americans. So when policy destroys businesses in this country, it subsequently destroys the retirements of American citizens. But what am I thinking…. Obama only cares about the irresponsible, poor, and unemployed Americans. He surely doesn’t care about people who, you know, actually saved money for retirement.
If you want to really learn about how Obama is ushering in a new Depression, just read the WSJ Op-Ed pages. Here is an excerpt from a recent article:
The Dow Jones Industrial Average fell another 281 points yesterday, or 4%, while President Obama began his political push for nationalizing health care and Barney Frank called upon state, local and federal officials to prosecute “those people whose irresponsible and, in some cases, criminal actions helped bring about this crisis.” (In what must have been an oversight, Mr. Frank left himself off the target list.) Citigroup — subject of three federal “rescues” so far — closed at $1.02 a share.
The larger point is that economies don’t spiral down forever without a reason and without policy encouragement. What’s worrying about the plunge in equities since January 2, and especially in the last week since Mr. Obama released his radical budget, is that it has come amid the unveiling of the President’s policy agenda. Equity prices have reacted to those proposals by signaling that they expect a much deeper and longer recession.
The optimistic message in Mr. Cogan’s comparisons is that recessions eventually end. How long they last, and how severe they get, depends in part on the choices our leaders make. The choices that Mr. Obama and Congress are making so far are not contributing to confidence, much less to recovery.