Last week, some actual decent economic news came out and fellow sub-blogger, and resident O-apologist, Rob, put a short post out on how the Right would never give the Big O credit for anything.
Well, I don't really think O deserves any credit, since his policies are all geared towards achieving no actual economic growth, and are designed only to encourage more statism, but, I will give the American people some credit. I think it's worthy of a cross posting:
There is no doubt that eventually, the American, and World economies, will recover. And these items are all good signs. Of course, last week's announcement of a greater than expected additional 475,000 new jobs lost, doesn't point to much of a jobs recovery. Furthermore, experience and History are not on Obama's side. Expect a very weak recovery, and unemployment may slide slowly back to 8-9%. I doubt we'll see much better than that. With the passage of health care "reform", and the eventual promised elimination of the top end of the Bush Tax Cuts, and should cap-and-tax pass, we will have plenty of new tax and fee burdens on the American economy. The business cycle is controlled by much more than the president's fiscal policies. The Fed is doing all it can to pump money into the economy (which will ultimately lead to inflationary pressures), while the President seems intent on taking it out again. That could be a vicious inflationary cycle. What the country needs, is a little less government, and a little more entrepreneurship. But, this administration has decided to side with corporatists and the big players in the corporate world, and small businesses be damned. So, while Obama himself and Pelosi and Reid certainly lean socialist, the actual governing model they follow is that of Mussolini's Italy.