Saturday, February 21, 2009

Obama's Economics: An American Disaster

Below, one of the growing number of protestors greeting Obama as he flies around the country on Air Force One . . . preaching the gospel of energy conservation.

As the signs in the columns below show, Americans are rising up en masse to tell Obama, "Yes, we're mad at h-ll, and we're not going to take it any more." Put a sign in your front yard, and bring it to protest Obama whenever he's in your neck of the woods. Let him know he can't destroy the American Way of Life.

On Monday a.m., I'll be writing more about why Obama, as President, is an idiot.

In his speech on the housing "crisis" (yes, Barack, we know it's bad), a frightened and flustered Obama used one word 26 times. That word was "crisis." After the first and second use of word, every time someone repeats it in a presentation, it loses its capacity to register in a listener's mind. By the 20th or so usage, a "crisis" had become nothing special. It's the equivalent of the little boy crying "wolf" 20 times. (His speecwriter gets this advice free-of-charge.)

Known (wrongly) as a great speaker, Obama is in fact a terrible one. When he doesn't have a TelePrompter, he's as articulate as a drunk at closing time. Now that he can't sell "hope" and "change" anymore -- and no longer has George Bush to kick around -- he has almost nothing to say.

If the man has ever uttered one memorable line, we must have missed it.

Beyond that, although he's very bad at defining problems, he's even worse at presenting solutions. A hint for Barack: The solution to a problem where the federal government, the states, companies, and individuals have been wildly over-borrowing is not to intensify the borrowing. When the nation and its people are over-spending, the last thing we need is a stimulus (spending) bill.

Here are suggested lines for Obama's future speeches: "Spend your money wisely. Don't borrow money you can't pay back. And don't ever try to borrow and spend your way to prosperity."

Senator Lindsay Graham (R-SC) said the Stimulus Bill means "America's best days are behind it."

Last night (Friday) on "The Lou Dobbs Show" Kitty Pilgrim interviewed a remarkable young woman, Amity Shlaes, who writes for the Wall Street Journal and is the author of a great book (critical of FDR) called "The Forgotten Man." I'm hoping somebody can find the link, because Amity was praising Rick Santelli and calling him (hopefully and prospectively) "(U.S.) Senator Santelli."

Today on FOX, Ben Stein talked about the Stimulus Bill as little more than an effort to pay off Democratic voters -- and to buy the votes of new ones. Failed institutions, like GM and Chrysler, get paid off endlessly because the unions supported Obama. However, the bailouts do great damage to the productive members of society, essentially punishing them for BEING productive. They -- we -- don't get "bailed out."

To our credit, we don't want to be bailed out. We don't want to engage in what McCain called "generational warfare," where our children and grandchildren pay the bill so that we can pretend we're better off than in fact we are.

By all means, let's help people who -- through no fault of their own -- are in trouble. But let's not help those who have no intention of helping themselves. Remember, our country's motto is "In God we trust" -- and not "gimme, gimme, gimme." A society where no one is allowed to fail eventually becomes one where no one is able to succeed.

We sometimes hear how "complicated" the economic situation is, but that is just plain false. As people like Bobby Jindal and Sarah Palin know, life and economics are fairly simple.
For example, you don't buy a house -- or have a lifestyle -- that you can't afford. You make sacrifices. You don't assume that the economy will never take a nosedive. You don't expect that someone else is going to pay your bills. You don't spend every last cent you have coming in. You don't have children and then assume that "society" (i.e., the taxpayers) is going to pay for their upbringing.

Does Obama understand such basic facts of life? Why should he? He's "The Affirmative Action Kid." Yes, he talks about his "student loans," but he went to an expensive prep school in Hawaii and then to three of the costliest schools in America -- Occidental, Columbia, and Harvard.

What percentage of his educational costs did Barack Obama pay? Of course, he hasn't released such facts -- nor will he ever. A good assumption is that he paid a relatively small amount.
From all the evidence, other people financed Barack Obama's education. He got mostly a free ride. It was an early version of his economic policy, where Other People's Money is made available to help out Obama and his chosen few.

It all fits the definition of socialism, which is not so much an economic policy as a vote-buying scheme. What happens when the productive members of society get tired of financing the unproductive? Unfortunately, it looks as if we're all going to find out the answer to that question . . . in the form of diminished economic growth, reduced opportunities, and skyrocketing inflation.

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