Re: ‘Why Obama’s Economy Won’t Improve’

More Hyscience Aug 2, 2011, 1:58 pm

Mona Charen’s interesting piece at Townhall today cuts right to the quick of why the economy is unlikely to improve as long as Barack Obama is president. Charen points to the president’s spinning of fantasies about the industries of tomorrow, while punishing the industries of today, his fulminations against “millionaires and billionaires” and his wrath about “corporate jets” betraying his fundamentally childish urge to punish success … which under his economic stewardship, there is less and less of around:

The president’s team has taken to offering ever more creative explanations for the economy’s weakness. It was George Bush’s fault, or a “bump in the road,” or a response to the Eurozone crisis, or a consequence of the Japanese earthquake and tsunami, or a result of the drought in the southwest. It’s reminiscent of the old Soviet Union’s explanation that for the 69th, 70th and 71st consecutive year, poor weather had caused a bad harvest.

his economic advisers should not be surprised, though, because this administration has not been about growth — it has been about “fairness.” And in the name of fairness, it has created the most anti-business climate since Franklin D. Roosevelt’s administration. …

[...] The president is dazzled by the vision of those shiny high-speed rail trains — and by solar panels, electric cars and other pet projects that have caught his imagination. What he has been unwilling to do is to permit the vast private sector to make its own decisions — to follow its own ideas.

Instead, the administration has been saddling the private sector with a stifling load of regulations. The burden of Obamacare, most of which does not take effect until 2014, is mostly in the realm of fear and uncertainty. Employers do not know how much each new hire will cost under the

… Read the Rest

Tags: president, administration, economy, fairness, sector, private, industries, improve, obama, charen, economic,

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  • Description: Mona Charen’s interesting piece at Townhall today cuts right to the quick of why the economy is unlikely to improve as long as Barack Obama is president. Charen points to the president’s spinning of fantasies about the industries of tomorrow, while punishing the industries of today, his fulminations against