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Trivia Tidbit of the Day: Part 545 -- The Obama Economy.

Stop Blaming Others, Obama, This Economy Is Now Yours-

Obama and the Democrats are still blaming Bush for everything that is wrong with the world. Unfortunately for them, Democrats controlled Congress for more than two years now, and in terms of policy decisions, the past few years now have been guided mostly by left-of-center thinking. The alleged deregulation of the Bush years was largely mythical. The Bush tax cuts were mostly a first term phenomenon. Entitlement reform was kiboshed. Instead, programs were expanded, regulations added, and taxes in other nations began to make ours look high. With so much media attention on the Democrats' primary, the national policy mood was decidedly left-wing. There was no room for conservative ideas during that period.

More than that, regardless of who was in charge of turning the boom into the bust, Obama and Pelosi are now unequivocally in charge. And they are not inspiring confidence. At all.

Just take a gander at the market since Obama won:

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.

Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.

Obama and the Democrats need to stop blaming others. They need to stop uttering phrases like, "we inherited such and such recession, or such and such deficit."

Even if you did inherit it, it's now yours.

As any clever trust fund kid knows, any money your rich parents spend on you now is just money that you won't inherit later on.

With that philosophy in mind, let's examine what the Democrats in Congress drained from their own inheritance in just the past year:

Liberal ideas got us into this mess. Über-liberal policies won't get us out. Buyer's remorse is already creeping in. It's already time for change in Washington.

QUICK UPDATE: More buyer's remorse, from "moderate" David Brooks.

Previous Trivia Tidbit: Nuclear Power.

Posted by Will Franklin · 3 March 2009 10:42 AM

Comments

Posted by: ZsaZsa at March 3, 2009 01:40 PM

Posted by: ZsaZsa at March 3, 2009 03:19 PM