“We had reversed the recession, avoided a depression, got the economy moving again. . . . But over the last six months, we’ve had a run of bad luck.”
— President Obama, Decorah, Iowa, Aug. 15
A troubled nation wonders: How did we get mired in 9.1 percent unemployment, 0.9 percent growth and an economic outlook so bad that the Federal Reserve pledges to keep interest rates at zero through mid-2013 — an admission that it sees little hope on the horizon?
Bad luck, explains our president. Out of nowhere came Japan and its supply-chain disruptions, Europe and its debt problems, the Arab Spring and those oil spikes. Kicked off, presumably, by various acts of God (should He not be held accountable too?): earthquake and tsunami. (Tomorrow: pestilence and famine. Maybe frogs.)
Well, yes, but what leader is not subject to external events? Were the minor disruptions of the current Arab Spring remotely as damaging as the Arab oil embargo of 1973-74? Were the supply disruptions of Japan 2011 anything like the Asian financial collapse of 1997-98? Events happen. Leaders are elected to lead (from the front, incidentally). That means dealing with events, not plaintively claiming to be their victim.
Moreover, luck is the residue of design, as Branch Rickey immortally observed. And Obama’s design for the economy was a near-$1 trillion stimulus that left not a trace, the heavy hand of Obamacare and a flurry of regulatory zeal that seeks to stifle everything from domestic energy production to Boeing’s manufacturing expansion into South Carolina.
He sowed, he reaps.
In Obama’s recounting, however, luck is only half the story. His economic recovery was ruined not just by acts of God and (foreign) men, but by Americans who care nothing for their country. These people, who inhabit Congress (guess which party?), refuse to set aside “politics” for the good of the nation. They serve special interests and lobbyists, care only about the next election, place party ahead of country. Indeed, they “would rather see their opponents lose than see America win.” The blaggards!
I’ve watched ex-felons, straight out of prison stand and salute the flag because only afterward was the ”free” food doled out
And I bet Peggy (Obama gonna pay my rent and my bills) would salute it, too, if her rent and bills would get paid in exchange.
But is that really ”love of country?”
Do either type of Obama supporters ”want America to win?”
Or do they just hope for more freebies?
Maybe Obama is being fought against precisely because he only appeals to those who want a full teat to suck on.
They crucify Perry for calling Bernankes actions in QE’s treasoneous as criminal or outragegeous, but what about Obama calling republicans not giving him what he wants america haters? What’s the difference?
Nan mentions the freebies above. Did anyone catch the WSJ story on section 8, not sure of the day, Wednesday I think. Lovely little benefits they get there. And one can almost be sure that other freebies come with the package. I wish someone could tell me all the good the Democrats do for such people?
Doesn’t the rest of the working country get tired of pulling the load? What’s it going to take? Really, what will it take?