Posted by
ApolloSpeaks on Thursday, September 03, 2009 11:04:08 AM
Obamanomics is hocus pocus economics; it is a sleight of hand statist deception to massively grow the size, scope and power of government under the guise of the American Recovery and Reinvestment Act (ARRA) while relying on Fed chief Bernanke's monetary stimulus policies to effect the recovery. And despite signs of improvement from the Fed stimulus (noted by Larry Kudlow in his overoptimistic piece: Hey Conservatives, We're Recovering), consumer spending remains dismally flat* while Obama's policies and inept leadership depress confidence, economic activity and faith in the future.
*Consumer spending has been boosted slightly by the clunker program.
Indeed, by mid-June with unemployment at 9.5% Obama lost faith in his stimulus plan to effect a recovery anytime soon. This is why he rushed madly into health care reform trying to get socialized medicine quickly passed before worse economic news would turn more of the public against him and make that practically impossible. If this weren't true and Obama still had faith in his plans then he would have patiently waited for signs of robust economic growth before venturing into health care reform. That way he could have used the recovery to win credibility on health care saying to the public: 'Trust me America, just as our policies are fixing the economy and putting you back to work so will my medical reform bill with a public option fix the broken health care system improving the cost and quality of healthcare for all.' If Obama still had confidence in his recovery plan that would have been the sensible thing for him to do. But as the economy continues to stagnate or erode while the deficit mightily grows* the Great Depressor's confidence and patience is gone.
*I heard it said on FOX that the only thing that ARRA is stimulating is the deficit and national debt.
Postscript I: The Radicalization of America
Obama's smoke and mirrors phony stimulus partisan political payback bill* was a component of his plan, together with Cap and Trade and Obamacare, to radicalize American culture and ensure that the future of this nation belongs to the secular progressive Left. As more American's see through his trickery Obama is turning into an object of national derision and scorn undermining his ability to govern and dooming his presidency to impotency, paralysis and catastrophic failure like Jimmy Carter in the late 1970s.
*Some have rightly called it "a gigantic political slush fund to payback supporters and buy votes" noting that counties that voted for Obama received twice as much of the "stimulus" money as those that voted for McCain. What was it Gibbs said about "politics not being at work when spending for the recovery?" The backlash against Obama and the Dems is only at its beginning of a tsunami. Down the road public indignation over this deception will reach Katrina proportions overwhelming the administration and wrecking the radical left and its plans to seize permanent control of the country. The cluless, incompetant, blundering Obama is the sign that secular Socialism is in its end time and isn't America's destiny.
Postscript II:
I imagine a meeting back in early January between Obama, Geithner, Summers, Bernanke, Pelosi and Reid which convinced Obama that the Feds monetary stimulus policy was the key to economic recovery; and that his administration could spend its way to advancing his hidden leftist agenda to create a permanent secular progressive culture in America in the guise of a stimulus package. Fed policies would jump start the economy and Obama and the Dems would credit their phoney stimulus package to the acclaim of the American people who would reward Obama with a second term and the Dems with more bodies in the House and Senate. That this plan is now being derailed by the unintended consequences of Obamanomics-killing small businesses and entrepreneurialism*-with our center-right nation alarmed and up in arms over Obama's radical agenda.
*The major source of new jobs and economic growth.
Postscript III:
Picture a large, crazed monstrous rabbit conjured out of a magician's hat and what you have is the perfect image of Obama's hocus pocus economics coming back to terrorize him and the Dems as Bernanke and his money printing machine fails them.
