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 and scope 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 and economic activity.
*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, which is why he rushed madly into health care reform trying to get socialized medicine quickly passed before worse economic news would 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 sustained economic growth before venturing into health care reform. That way he could have used the recovery for 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 lowering costs while providing insurance to all.' That would have been the sensible and logical thing for Obama to do if he still had confidence in Obamanomics. But the Great Depressor's confidence is gone as the economy continues to errode due mostly to his untrustworthy and treacherous leadership and leftist tax and spend, deficits don't matter* spread the wealth redistributionist plans.
* I heard it said on FOX that the only thing that ARRA is stimulating is the deficit-the deficit, growth of the Federal government 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 masterplan, 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 thbe 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. Down the road public indignation over their great deception will reach Katrina proportions overwhelming the administration and wrecking the radical left and its plans to seize permanent control of the country. Obama is the sign that Socialism isn't America's destiny.
Postscript II:
I imagine a meeting back in early January between Obama, Geithner, Summers and Bernanke 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. That agenda is now being derailed by the unintended consequences of Obamanomics-killing small businesses and entrepreneurialism*-and center-right nation alarmed and up in arms over Obama's radical plans.
*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 you have the perfect image of hocus pocus economics coming back to terrorize Obama and the Dems as Bernanke and the Fed fails them.
