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Thursday, February 05, 2009

Is Obama Losing It?

Obama's emerging incompetence is starting to, frankly, frighten me a bit.

The fiasco that is his appointment process is the most obvious example of his incompetence.

It was his second bite at the "I Won" apple yesterday that really sent a chill up my spine. He's decided to go on offense against Senate Republicans who have decided to question his spending bill (WashPost):

In recent days, there have been misguided criticisms of this plan that echo the failed theories that helped lead us into this crisis -- the notion that tax cuts alone will solve all our problems; that we can meet our enormous tests with half-steps and piecemeal measures; that we can ignore fundamental challenges such as energy independence and the high cost of health care and still expect our economy and our country to thrive.

I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change. They know that we have tried it those ways for too long. And because we have, our health-care costs still rise faster than inflation. Our dependence on foreign oil still threatens our economy and our security. Our children still study in schools that put them at a disadvantage. We've seen the tragic consequences when our bridges crumble and our levees fail.

This ridiculous non-argument for his spendapalooza is frighteningly immature in its tone and bizarre in its leap of logic. There's no evidence that the American people rejected tax cuts in November; in fact, Obama ran on a pledge to cut taxes and reduce spending such that his budget would show a net decrease in spending. I can hear the man stomping his feet all the way over here.

But, that's not the best graph. No, I think this beauty takes the cake:

Because each day we wait to begin the work of turning our economy around, more people lose their jobs, their savings and their homes. And if nothing is done, this recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse.

And I thought George Bush was the scaremonger.

If Obama actually believes this, he should resign from office immediately - he's obviously an economic illiterate.

Left to its own devices, the economy will at some point find a new equilibrium. It may not be the same overinflated level that existed before September 2008, but it will be a level from which future economic growth and wealth will commence once again. The sooner we reach this proper equilibrium, the better. Obama's spendapalooza is more likely to delay the dawn of this new equilibrium than it is to bring it about.

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