For those who have a even a passing fancy with business administration or economics, which leaves out 92% of the Obama administration, you know that businesses go through cycles of ups and downs. That's why it's called the business cycle. The current economic downturn that we are in began in early 2008. Recessions generally last about 12 to 18 months. We are now in the 27th month of our current recession. And after about two years of calling it the worst economic crisis since the Great Depression, our current recession has been given the moniker 'the Great Recession.'How great is that?
Obama's policies intended to put an end to the recession have actually prolonged it. The over expansion of government has been the only source of job creation since the passage of the recovery act last year. So now we need stimulus II. Obama's commitment to job creation at the beginning of this year lasted about a day and a half. Since then, he has taken up the priorities of Nancy Pelosi-passing health care reform. Obama said in a speech at job creation was going to be his number one priority this year, then the next day and see Pelosi came out and said that health care reform will be passed. That was the end of the job's priority.
Obama seems to think that passage of the reform bill is not popular because people do not understand it. He thinks Americans are too dumb to know what's in the bill. He thinks Americans are too dumb because they do not believe the lies that he is selling us.
Health care reform is going to hold down costs. Really? How? With more people being covered, and no new doctors, where's the savings? We are being told that it is too expensive to pay for the medical expenses of the uninsured. But, we're going to subsidize their policies. Where is the savings?
Healthcare reform is going to reduce the deficit. Obama alleged he would not raise taxes on the middle class. So how will a bill that cost $1 trillion reduce the deficit by about $1 trillion? Are there huge tax increases that are not being talked about by the Democrats?
It seems like the only bills that are being passed by Congress are extensions of unemployment benefits. A few billion here and a a few billion there, all added to the deficit. I sense another speech coming about fiscal responsibility. That will of course be followed up with more deficit spending. Soon it will be time for Obama to tour the country with his pockets full of stimulus money to dole out to Congressional districts being held by Democrats. That should entice the poor to vote for Democrats again so that more free money can be given out to the poor. While doing this, are the Democrats going to blame the economic crisis on Bush again? The lack of leadership by the Obama administration does not have the fortitude to lead the country back to a position of strength. Obama will continue to blame it on the past 10 years. I agree with impartially, with the past year and a quarter.