President Obama’s Train of Failure Roll on
By: Craig Chamberlain
The newest economic data is out. Only 54,000 jobs were created, and this has caused the unemployment rate to climb up to 9.1%. Of course that is only the official unemployment rate. If we count discouraged workers, and the underemployed, we are looking at a rate of closer to 15%. In what has become a common ritual for this administration, they have underperformed. Every time a new statistic comes out, whether it is the unemployment rate, the economic growth, or the trade deficit, the economy performs lower than expected. The administration is stunned- stunned I tell you- every time they predict a recovery and fall flat on their face.
Who comes up with their economic forecasts? Whoever it is fire them fast. Most likely no one is predicting, or forecasting, anything. An administration run by socialists knows nothing of economics, so instead of studying it as a science they just put down their wishful thinking on a piece of paper and call that a forecast. After all this is the same group that said with a straight face that we could spend our way out of a stimulus, that the failure to pass a stimulus would result in catastrophically high unemployment, we were warned that it could go as high as 8%! And yet the Keynesian’ s march on their faith in statist economics is as unfazed by failure as it is for those people who thought that the end of the world was coming last month. Failure after failure and instead of admitting their mistake, they go back to work and insist on getting it right this time. Back to recalculating, and then we’ll see economic growth. Classical economics 1,000- Keynesian 0. Who really clings to their religion, churchgoers or administration economists?
This presidency has been one failure after another. We’ve seen nothing but economic stagnation, domestic troubles, and foreign policy embarrassments. This administration is an example of how not to run a country. Future Presidents should just ask themselves a simple question “what would Obama do?” Whatever answer you come up with, do the opposite. Obama tired and disproven theories need to be put to bed once and for all. There is a scientific way to handle an economy and then there is the method Obama is using. Or if you want there is the California model, and there is the Texas model for economic growth. These two model have actually played out in the real world so we can measure results in a substantive, objective way.
The California model has a closed labor market due to the power of the labor unions. It has high taxes, mountains of red tape, and, as a result, California is in debt to the point where there is no real hope they will get out from under it, they don’t create any new jobs because of the regulations, and they are overtaxed to the point where any Californian with any sense has fled for another state. What was once the economic marvel of the United States is now the economic basket case.
This is in clear contrast to the Texas model. Texas has low taxes, little in the way of regulation, it is a right to work state, they just passed a law forcing plaintiffs of frivolous lawsuits to pay the court costs, and an environment that is very friendly to business. No state has created more jobs than Texas. It is the United States new economic engine. I don’t know about you but give me Texas over California any day.
The problem is that we have a President that is committed to the California model despite its clear record of failure. If President Obama could he would happily turn prosperous Texas into California, all in the name of hope and change. Let’s hope that the American voters don’t buy in for another four years, that they remember what the last four years have been like because of his leadership. America has suffered economically, its reputation in the world has taken a hit. For all the growling about George W. Bush, President Obama has been worse. He spent more money on one stimulus plan than President Bush did in 8 years of war. President Bush angered the French and the international left(Yeah, I know that’s pretty much the same thing) President Obama has deliberately thrown our allies overboard time and time again.
The voters of America have a chance to send a clear message next year. Let’s hope that they remember what hope and change have really brought them, and let’s tell the fools in Washington that we don’t want anymore.