Right Wing Finance

According to a recent state-run media article the president had this to say regarding the unemployment rate crossing over into double digit territory today:

“I will not rest until all Americans who want work can,”he said.

16 million Americans are now without jobs. We now have the highest unemployment rate in 26 years. What has Obama’s answer to all this been? Instead of creating a climate where businesses can succeed, he rewards failure after failure with endless bailouts. Instead of creating incentives to be productive, he’s proposed punishing success and prosperity by taxing “the rich” to pay for a misguided government take over of healthcare. He’s flown around the world arrogantly apologizing for his country, and delivering the most narcissistic speech “for Chicago” in a failed Olympics bid.

Economists believe more jobs will be lost, and the unemployment rate could possibly reach 10.5 percent next year because employers remain reluctant to hire.

Has anyone in the media stopped to consider why employers are reluctant to hire? Could it have anything to do with the absolute lack of incentive to produce a profit? Could it have anything to do with the mountain of unknown taxes, fees and expenses coming down the pike in the form of a misnamed “energy bill”? Could it be the witch hunt that administration officials, czars and democrats in congress have pursued against big business and seemingly any company that manages to turn a profit?

Obama signed a $24 billion economic stimulus bill Friday providing tax incentives to prospective homebuyers and extending unemployment benefits for another 20 weeks for Americans who are out of work. The president said the unemployment benefits not only put money in the pockets of the unemployed, but also stimulate the economy when its spent.

This is part and parcel of his phony concern and the phony recovery. Obama’s smoke and mirrors economy is built on the illusion of a 3.5% “growth” in GDP – a growth in government spending, not true production. Creating government jobs that are transient and must be paid by private sector only leads to a temporary, and unrealistic “growth” in GDP. Obama’s economy is one where the government buys the cars he mandates GM to produce because not enough Americans will buy them, but who’s paying for all this? Who’s paying for people the cash for clunkers, and to go out and buy homes? The tax payer and the private sector. Obama’s economy is an unsustainable economy.

If the president really wants to stimulate the economy, he should get government out of the way and create incentives to produce and be prosperous. Instead, he’s simply subsidizing failure – with the money of producers (i.e. tax payers!).

Obama said his economic team is evaluating other options to create jobs and get the economy moving.

Get the economy moving again? How about dropping the pursuit of the anti-capitalist agenda? Scrap the cap and tax plan. Scrap the healthcare take over plan. Stop spending so much money it’ll take 3 generations to pay the debt on.

“I promise I won’t rest until America is prosperous once again,” he said.

America will be prosperous again when the voters kick the socialist democrats to the curb in 2010 and 2012. Until then, we will have to settle for empty rhetoric and false hope.

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