Tag Archives: Economy

Obama: The Fail Part II, Nothing

Obama: The Fail Part II, Nothing

I’ve been among those saying that there’s plenty to slam our President on without making stuff up as some kookspiracist bloggers are prone to do, and you don’t need to wish him to fail. In my previous post I noted that President Obama is failing at least for his first six months in office citing just the facts.

This RNC video summarizes his first six months on the domestic issues in a hard hitting political ad:

Also note you can add Caving to Iran to the list of indefensible foreign policy blunders.

Obama’s First Six Months: The Fail

Obama’s First Six Months: The Fail

Domestic

Even being kind and peering through rose-colored glasses won’t give the appearance that President Obama has succeeded in his major policy initiatives – especially when you look at real data from his first two quarters in office.

The biggest challenge he talked about in the final days of election season was the economy and his policies and initiatives have fallen well short of promise. It could be worse than just the bare unemployment figures indicate.

While there are mild signs of recovery, the overall data after two fiscal quarters of Obama’s Presidency indicate the big fail on most promises. States are the beggars next in line to come after US Taxpayers and you should expect to see lots of lobbying from them during the second half of the year.

He promised not to raise taxes on the middle class, but he certainly has. With tobacco taxes as first step and the coming Cap and Trade Bill, pretty much every person in the US will see some impact to their budget in the form of a hidden energy tax.

The effects on industry are likely to quell the mild recovery mentioned above, but he’s pressuring the Senate right now to get it passed pronto. Let us hope the Senate stops this monstrous blow on the economy and your wallet. This might also impact the balance of power in congress, as vulnerable Dems come under fire for voting for Cap and Trade.

If Cap and Trade doesn’t stall the economy, then his health care reform plan will, and that looks headed into a maelstrom of congressional indecision. Congress will take this up right after the holiday break and you should expect some major contention. It seems that everyone wants universal health care, but not many want to pay for it.

In other areas he’s appearing like Bush III rather than a Democrat president, indeed the biggest “change” might be hypocrisy.

On ethics President Obama’s promised transparency in government has been displaced by realpolitik, and the end of influence he promised has been tossed in favor of pay to play and patronage. Congress doesn’t seem to mind since they are the new jet setters on our dime, and for now the MSM is still backing the President’s plays.

Foreign

When it comes to the war on terror, Obama is a series of reversals and that’s the only reason he gains a passing grade. Here are but a few:

  • He promised to stop warrant less wiretaps, but has reversed on that.
  • He promised to end unlimited gitmo detention, but reversed on that
  • He promised to close gitmo, but now runs into the same rock and hard place Bush did.
  • He promised to release Abu Ghraib photos, but wisely reversed after counseling on that.

In every major challenge to the US from tinpots and tyrants, he’s talked softly and wielded a feather boa. The only reasons he gets a C in foreign policy are his firm prosecution of the war in Afghanistan and his follow through on the Bush policy and negotiations in Iraq. He is clearly on path to alienate some allies such as Israel, Columbia, and Japan from his soft stance and passive/agressive meddling.

The recent Honduran issue shows clearly that he is as isolationist as any hard core paleocon rightwinger, although his approach is passive / aggressive rather than blunt as a paleocon’s would be. The mixed message of “not a coup but not legal” and the pressure through OAS that our state department is sending sure isn’t impressing our allies who are opposed to Chavez’s Bolivarian Revolution in Central and South America.

I am certainly not one of those who are hoping for Obama to fail and consider it stupid for anyone to wish for that – but it appears that in many areas he is not succeeding. Hope and Change has metamorphosed into Hypocrisy and Carterdom.

Virgin CEO Branson Fully Favors Nuclear Energy

Virgin CEO Branson Fully Favors Nuclear Energy

Richard is somewhat halting in public speaking but what he says here is very pertinent and right on the money.

This is exactly in synch with what oil economy specialists say, especially in light of the new restrictions on shipping diesel fuel. The sooner we can free up more light sweet crude from power production for transport, the better.

Pelosi Pimps National Energy Tax and Iowa Congressman Braley in Des Moines

Pelosi Pimps National Energy Tax and Iowa Congressman Braley in Des Moines

Nancy Pelosi was expecting a quiet soiree of Democrat fat-cat insiders as she attends a private fundraiser for the Democrat Congressional Committee and Congressman Bruce Braley. Braley was out speaking last night trying to tamp down the upset over her lies about the CIA, but they just won’t go away.

Meanwhile the NRCC robo-called across the district to let voters know about the National energy tax that’s the likely outcome of the Democrat Cap and Trade scheme.

At inception it was a plan like those imposed upon Europeans the past few years, plans which have totally failed to reach goals and that increased use of fossil fuels in Europe while strangling those economies. Some of the economic malaise we are in can be tracked back to Euro cap and tax schemes.

That’s how it started off, a plan like the Europeans… but since then it’s turned into a patronage scam of perks and pork as Rep. Henry Waxman trades credits to states whose votes he needs to pass the bill. It’s a monstrosity that we don’t need while the economy is recovering.

Here’s the audio from one of the robo-calls:

Obama’s Nuclear Energy Limbo

Obama’s Nuclear Energy Limbo

A good post is up at NEI discussing the ambiguity of the Obama Adminstration’s stance on new nuclear energy plants in the face of the push for cap and tax:

If a cap and a price are imposed on carbon dioxide emissions, [nuclear] plants could be among the biggest economic winners in the vast economic shifts that would be created by greenhouse gas regulations.

That’s from the New York Times, borrowing a story from Climate Wire, which while noting the nuclear plants achieve the goal of carbon emission reduction rather well, runs though the tough sledding it faces.

For example, President Obama is overly ambiguous in his support:

“The president needs to show his cards on nuclear energy,” said energy consultant Joseph Stanislaw, a Duke University professor. “He cannot keep this industry, which must make investments with a 50-year or longer horizon, in limbo for much longer.”

We’re not absolutely sure this is the right way to put it – Congress weighs in, too, and we’ve seen an EPA report that basically shows that carbon emission reduction goals are unattainable without nuclear energy. The nibbling around the edges is happening from both ends.

Milton Friedman on Greed

You Say Greed, I say Self Interest

Who can you trust in a society full of greed? Look in the mirror, look to your family and friends, but be careful even with the latter…

At times like this when the “best and the brightest” have made huge mistakes, and government controls and intervention are shown to be useless, it’s good to remember the prime things that drive economies: key among them is self interest, or as some would have it, Greed. We’ve had hundreds of years of great growth, innovation, and unprecedented success in the US primarily due to our affection for capitalism and innovation. We’ve hit a stall, but it won’t last forever so please don’t let the doom crying pundits toss Capitalism out with the bath water. H/T Instapundit.