Tuesday, August 24, 2010
That Sinking Feeling
Democrats and the Obama administration continue to speak with great optimism. Vice President Joe Biden recently predicted that the economy was rebounding and would soon be creating 250,000 to 500,000 new jobs a month (the economy shed another 12,000 jobs last month). Obama continues to point blame to the mess created by Bush's war.
However if you do the math, as the Washing Examiner recently did, Obama's stimulus bill cost more then Bush's war. The Congressional Budget Office (CBO) reported the cost of the war at $709 Billion. The first two years of Obama's stimulus bill will cost more then the 6 years of the Iraq war during the Bush administration
The just reported July home sales fell 27.7%. The main stream media the did more research on what Sarah Palin was throwing into her trash then what Obama's actual qualifications/accomplishments were that might qualify him to hold the most important position in the word, is finally starting to drop words like "unexpected" when reporting bad economic news.
From ABC News: "Economic growth is going to drop rapidly for the rest of the year and the Recovery Act is going to add zero".
And from AOL News: "If Washington seems out of ideas on how to get the private-sector jobs machine running again, there's a pretty straightforward reason -- the people in government have virtually no experience in business. In a major departure from prior administrations, you'd be hard-pressed to find anyone in the current administration with any real business experience."
President Obama has stated that he wasn't concerned about being re-elected. I'd say that's a good thing. I'm looking forward to seeing him playing a lot of golf after 2012.