Not that the economy ever really warmed up in this Great Recession which doesn’t seem to want to go away despite Obama’s $787 billion stimulus which was supposed to be the cure-all for what ails us.
It hasn’t cured jacksquat. In fact, it’s made things worse and all Obama’s horses and all his men aren’t able to put the economy back together again.
His two year old mantra of “Bush did it!” is getting very old and tired and only his diehard fans believe it anymore. He continues to remind us that Bush left him with a $1.3 trillion deficit after 8 years but makes no reference to the multi-trillion dollar deficit he has dug for us in a mere 17 1/2 months.
Still, instead of admitting his errors and reversing course when the steed he rode in on is showing signs of dying, the president and his trusty Congress are obliviously still trying to spend us into prosperity.
That has never worked before, government spending to bring back the good times, so why they think it will work this time around is perplexing. The only jobs government can create are government jobs. That the Democrats have been very good at but that job creation only increases already astronomical deficits.
As California, Illinois, and other (liberal) states edge toward insolvency and bankruptcy, even Democrat stalwarts like Clinton’s former Labor Secretary Robert Reich are sounding the alarm.
“Home sales are down. Retail sales are down. Factory orders in May suffered their biggest tumble since March of last year. So what are we doing about it? Less than nothing,” he said. And that’s from a UK article which suggests the dreaded D-word: depression: http://tiny.cc/wgqgb
Translate Reich’s generic “we” as Obama, Nancy Pelosi, Harry Reid and the rest of their merry band of Dems.
Oh, some people are doing fine in this mess, such as government dregs and union workers such as those in the UAW but despite the administration’s fantastical proclamation of “Recovery Summer,” eight million jobs have gone pffft and even Joe Biden admits they just ain’t coming back.
Obama does have some cards still up his sleeve but they’re all tax cards. Increased Obamacare taxes are on hold for a while and the Cap and Trade energy levies will have to wait til Obama gets the bill passed but the Big Magilla, the largest tax increase in the history of the Republic is scheduled to take effect starting in January, 2011.
Those 10-year Bush tax cuts of 2001 are set to expire this New Year’s Eve unless our dysfunctional legislators, by then possibly a lame duck congress as well, extends them.
Should that extension not happen, income tax rates will climb 3% for everyone starting January 1, 2011, dividends will again be taxed as ordinary income with a top rate of 39.6%, the stock markets would tank even more than they are now, unemployment rates would balloon to unheard of levels, and the economy will plunge into a comatose state that would make 2010 seem like the good ol’ days.
Should that effective tax hike take effect, Obama will undoubtedly yamp that he hasn’t really raised taxes on the middle class. It’s all Bush’s fault for not pushing back in 2001 for an eleven, or twenty, year tax cut.
Still, Obama’s approval rate will continue to hover in the 40′s, bolstered by black voters and that almost 50% of voters who pay no federal taxes anyway and don’t want to rock that boat.
The worst scenario is the most unthinkable, that Obama will be chuckling in the White House over the economic chaos, that chaos which was his plan all along and which would explain his insane spending and more insane deficits and national debt and higher unemployment which will breed societal unrest.
A chaotic economy and nation would be ripe for the picking, perfect for declaring a national state of emergency and martial law, and seizing dictatorial powers.
Atheistic communism could never gain any traction at America’s ballot boxes but the master community organizer, Saul Alinsky, lives on in the person of Barack Obama who taught his philosophy of revolutionary change for three years.
Obama the Economy Slayer will then become Obama the Nation Slayer and that amorphous “change” he promised will be upon us, in spades.
Can’t happen here? Don’t bet the farm on it!