Can We All Just Admit That Conservatives Have Been Right About The Economy And Obama Has Been Wrong?

Can We All Just Admit That Conservatives Have Been Right About The Economy And Obama Has Been Wrong?

One thing that should alarm liberals, well in some bizarro world where liberals care whether their policies work or not, is that conservative predictions about Barack Obama’s economic policies have been spot on.

We said the stimulus wouldn’t get the economy cranked up again — and it hasn’t. We said it was a huge mistake for the government to become intimately involved with GM and Chrysler. The taxpayers are going to lose 14 billion dollars on GM alone. We said Obama’s attempts to make it more difficult to drill oil would drive up gas prices. That’s happened, too.

We’ve also said that uncertainty caused by Obama’s economic policies would stifle economic growth because corporations would be afraid to take risks. Now, we find that American companies are holding onto record cash reserves.

So, why are they holding onto that money instead of taking risks and creating jobs? Investor’s Business Daily has a great piece on it.

Government spending, as a share of the economy, has soared 25%. Regulations, many of them arbitrary and foolish, such as the ban on incandescent light bulbs, have never been more numerous.

Businesses say in survey after survey that, with all the government’s micromanaging of the economy, they are uncertain of what comes next, and therefore are postponing investment and hiring decisions.

But to top economic officials like Bernanke, it’s not clear by now what’s wrong. Really? How about:

– $830 billion in failed, corrupt stimulus efforts?

– A $700 billion TARP program that was promised as a way to stabilize the banks but ended up as a kind of union-crony slush fund?

– The government takeover of GM and Chrysler?

– The punitive re-regulating of Wall Street through a Dodd-Frank bill that affected even those entities that had nothing to do with the financial meltdown?

– Small-business fears about higher taxes and stringent, new green regulations that are making it harder to plan and make profits?

– Soaring oil prices that the government seems not only to tolerate, but also to actively advocate by refusing to permit our oil companies to drill for more?

– The admission by Vice President Joe Biden, put in charge of efforts on the economy, that higher taxes are “most important to us Democrats”?

– And, finally, the Bernanke Fed’s own $1.7 trillion in quantitative easing – a fancy central bankers term for “let’s print more money”?

Seriously, does Bernanke – and for that matter, all the other policymakers who say they’re “surprised” at the weakness in our economy – really think all this is normal?

Look at what’s transpiring in our markets. After repeated government intervention, no one today knows the real price of food, housing, energy, raw industrial goods, bonds or stocks. The amount of government money distorting these vital parts of our free economy is so great, our markets can’t really function.

Liberals imagine that the world is static and they can tinker with it any way they please without consequences from the bowels of D.C. Then, if it all falls apart, well, they’re not playing with their own money anyway, so who cares? Unfortunately, they’re playing games they don’t understand with the lives of real people who have to live with the consequences of their decisions. This is what liberals never seem to learn: People react negatively to stupid.

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