Thursday, March 12, 2009

Say What??

President Obama spoke from his ass today, addressing a business group.
March 12 (Bloomberg) -- President Barack Obama warned a group of chief executive officers that the U.S. can’t continue with “endless cycles of bubble and bust” and must build a new foundation for future economic growth.
Oh! He's an economist now, on top of a Constitutional scholar, community organizer and all-round nice guy. He knows what the economy needs.

Yeah, right.

I started to report in-depth on this article, but you've got the link. He wants to fix everything at once, and doesn't have a plan to fix the first thing yet. He's still campaigning. Okay, just one:
He likened the initiatives outlined in his $3.55 trillion fiscal 2010 budget plan to projects by past presidents to build a transcontinental railroad, the interstate highway system and the space program.

Such plans aren’t intended to supplant private enterprise, Obama said. Rather, they are designed “to spur commerce and industry,” he said.
I swear, the man's a megalomaniac. All I've heard is that "he plans". I'd love to know what he plans to do. The three things he cited (railroad, highways, rockets) were fairly ambitious, with good benchmarks along the way to measure progress. Still, I haven't heard what he plans to do, distilled down into a single paragraph. He needs to pick a focus and stay with it.


Rich Jordan said...

This is all part of his 'fair growth' position. There's no way to prevent the downcycles, really, despite all the Keynseian wet dreams... but you can compress the booms, keep everything steadier (and lower).

Tax the hell out of success (excluding protected groups like trial lawyers), enforce more and more oppressive, detailed, bureaucratic regulations over any existing and new found means of creating great growth and wealth (it isn't fair, after all)... just prevent anyone from achieving too much and the dips don't seem so bad.

Spreading misery equally.

Rivrdog said...

And the Red Chinese were all over him like stink on caca today. They are worried that their $Trillion + investment in Treasuries will go sour if he trashes the US dollar with all this "reckless spending" (their words!)

Old NFO said...

Well said Paw- And yeah, he doesn't have a clue!!!