"Irreversible recession" Obama warned in his op ed piece in the Washington Post. In all my schooling in Economics, macro and micro, I have never heard the term.
What does it mean? I suppose it means Obama doesn't know what to do other than spend money to stimulate the economy with wish list pork spending and if he doesn't get his way we are doomed. How can the Hope & Change candidate become so doom and gloom so quickly?
Because there are myriad of ideas being floated that could stimulate the economy. Things like tax cuts for individuals and business, you know, to let the people decide how to spend their money in their economy. This thing will take care of itself, you can bet on that. When the government got involved in the Great Depression they prolonged it by 7 years by eliminating competition, instigating protectionism policy, granting sweeping power to Labor, legalizing collusion and anti-trust, wage fixing above market value, and the list goes on. Principles of Socialism, but I digress.
What gets me really irked by his Carter-esque gloom and doom was this comment:
He rejected the argument that more tax cuts are needed in the plan and that piecemeal measures would be sufficient, arguing that Americans made their intentions clear in the election. "I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change," he wrote. Talk about over reaching the results of the election. Wow, the arrogance is astounding! The people did not vote for a Pork Stimulus Package when they elected him president. I am absolutely certain I did not see that plank in his platform when I vetted him all last fall on my blog. I don't remember any Obama supporters chastizing me last fall that I had ommitted it either.
The honeymoon for Obama ended far sooner than I ever thought. The media is now awake and will pick him apart. I would now put his odds at re-election at 1 in 4.
On the bright side of the economy, consensual sex is still free! Thank goodness....