After 2 1/2 years of the Obama administration, one thing we can say for certainty-the president and his team know absolutely nothing about economics.
I don't think the president has had any training in economics. No matter how many people out how smart he is, he shows complete ignorance in this one area. In all his years at the universities, he probably has not taken one economics course. Political science doesn't require any economic training, which also helps explain why all the lawyers in Congress also have no ideas that lead to solutions on how to get the American economy rolling again.
Month after month, the economic news is either bad or one good report from in with several bad reports. The administration does not know how to grow economy. They believe economics is a zero sum game. If government doesn't get your money to spend for social programs, Medicare or defense, then someone else will have that dollar and spend less wisely.
After a two-year, trillion dollar stimulus bill, the economy is barely growing at a weak 1.8% annual rate. Yes, we ask where the jobs? After 2 1/2 years of believing that we had jobs that were "shovel ready” we found out the administration had no idea how to implement its own plan. The money was spent, what did achieve? Unemployment is back on the increase again. And what do the Democrats have to say? “When President Obama came to office, America was losing 850,000 jobs per month.” This is 30 months later, it's time to start looking for solutions. It's time to start looking for results.
President Obama was elected because he convinced enough voters that he knew how to get the economy back growing again. We're still waiting. Oh sure, the president did everything right, the solutions just aren't working. We just need to give it a little more time. I'm sure that's comforting to the people who have been out of work for over a year. What's his plan for the future? More of the same, only more.
Completely out of ideas, the president and Democrats are trying to find ways to increase taxes. With almost half the families in the United States not paying any federal income taxes, the administration wants to put more of the burden on the half that is pain. They are trying to convince you that only the richest 1% of Americans will be paying higher taxes.
The administration believes that only government spending can create jobs. This is why the president and the Democrats on Capitol Hill believe that they need your money more than you do. You earned it, they know how to better spend it. They have absolutely no idea on how to grow economy. Tax and spend liberals have long believed that they know how to divide up the pie that is the American economy rather than trying to paint a bigger pie so that there is enough to go around. I guess that involves too much liberty.
As the presidential campaign for 2012 gets into gear, we know we will hear a lot about new economic plans. Americans again I'll have to rely on hope that the future will bring economic prosperity and not a prolonged recession. President Obama did not bring us back from the brink of recession, he took the recession that we had and made it last longer. Perhaps that's what he wants for his legacy. He may surely get it.