Daniel Henninger in the Wall Street Journal reminds us that one of the words that Obama likes to use – and at the same time denigrate his opponents – is “smart.” So we have “smart” diplomacy and “smart” economics.
It's ironic indeed that Barack Obama, in a slap at his predecessor, routinely said that his policies would be "smart" this or "smart" that. A "smart" economy would at least have the virtue of clarity for the purposes of planning and capital investment. The Obama economy does not.
Well, if the current American economy is “Obama smart” can we please have a return of “Bush stupid” when unemployment was 4% and the economy was growing for most of his term?
Everything Obama touches turns to cow manure. Scratch that, cow manure has the virtue of at least encouraging plant growth, a feature that Obama policies lack. What’s the “Obama smart” fix for the housing market?
The housing sector, a monumental and intractable mess, chokes the economy. No matter. The president allowed (or told) "adviser" Elizabeth Warren of the new Consumer Financial Protection Bureau to engulf banks and mortgage servicers in negotiations over a complex regulatory scheme whose goal, literally, is to fix their "business model."
Obama owns this economy like few presidents before him.
It is sometimes unfair to tag presidents with blame for an underperforming economy. Not this time. This president made conscious policy choices during a deep recession to reorder vast swaths of American industry. Strong-performing economies need clarity. Barack Obama has given ours indecision stretching to the horizon. And economic growth, like a long gray day, sits still below 3%.
For the “underclass” times are going to get a lot tougher. A wealthy economy can afford to be fairly free with its money to help those who are incapable or unwilling to help themselves. Poor economies can’t ... or won’t. “Obama’s stash” isn’t going to stretch far at all. It’s been spent. The mean streets are going to get a lot meaner.
UPDATE:
It's beginning in California: Skid Row shelter charges fees as economy toughens
UPDATE:
2 comments:
There have only been two years since 1999 with US GDP growth over 3%. Has Obama been affecting the economy since 2000?
From January 2001 to January 2009, there were only 1.1 million new jobs created.
The US economy has been sick for 12 years.
I know, why let facts get in the way of a good rant?
During most of the time unemployment ran between 4-5%. Today, it's between 9% and 20% depending on whether you count the discouraged or underemployed.
Andrew, lying with statistics is a specialty of partisans. I can "prove" pretty much anything if your let me pick the end points. Don't try that here.
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