Barack Obumbler

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The Obama Administration’s gravitas is sinking faster than Atreyu's horse into the Swamp of Sorrow. Less than 700 hours into the Presidency, Obama, who promised the most ethical Administration ever, has placed a dozen lobbyists in high administration places, fumbled half a dozen cabinet appointments, and overlooked the fact that several appointments, including the Treasury Secretary, were tax cheats…OOPS. But even more alarming the Bamster himself has proven Joe the Plumber a modern day soothsayer by taking “Spread the wealth around” to Stalinist proportions. A trillion for democratic pet projects here, a few hundred billion for people who took out grossly irresponsible mortgages there, a dash of welfare spending with a spread of labor union to go on top and you get yourself what some of the boys back home might call a….err spit-sandwich, yea that’s it.

The United States is now openly considering a policy that is very similar to Sweden’s in nationalizing the nation’s banks. The State of California in an effort to stave off complete financial collapse finally passed a budget revision that called for $12 Billion in tax hikes and $11 billion in fresh borrowing. And to make matters worse there are already whispers abound that another multi-billion dollar bank bail out might be coming down the pipeline. So let me get this straight, the United States of America somehow finds it feasible to mimic the behavior of the economic powerhouse of Sweden in a Hugo Chavez style nationalization of the country’s banks. California, the worlds 8th largest economy, decides that instead of cutting blatant statist policies that use state funds to pay for healthcare for illegal aliens, sex changes for state employees, and Islamic educational tools for the state’s kindergardeners, that a nice fat tax hike for businesses and BILLIONS in fresh borrowing are the best way to keep the state running.

Adding insult to injury President Obama’s economic adviser came out today and like something out of Mad Magazine declared that the economic crisis would come to an end this year. Feb. 19 (Bloomberg) -- The U.S. economy will keep deteriorating before reaching a low point in the second half of this year, an economic adviser to President Barack Obama said.
“We are in for more trouble. Things will get worse before they get better,” Christina Romer, chairwoman of the White House’s Council of Economic Advisers, said today in a speech at George Washington University. She said she expects the economy to “bottom out” by the third quarter “and I firmly expect positive growth by the end of the year.”

I hate to remind Ms Romer that inflation is back on the rise, the worlds economy is in shambles (Japan’s economy receded by a whopping 14% last quarter), major U.S. banks still stand on the verge of collapse, and many experts like revered investor Jim Rogers claim that the only place the world is headed is toward a major economic crash. Team Obama is betting heavily that Keynesian economic theories enacted through the recent stimulus packages will turn the economy around. Keynesian theories, developed by British economist John Maynard Keynes, suggest that an economic growth is best stimulated by injecting heavy federal spending into the private sector. Obama’s own advisers boldly tout that for every dollar is spent they will make a dollar and a half in return.

Let me remind everyone that a mere 5 months ago, hot on the campaign trail candidate Obumbler was lambasting the overspending of the Bush administration and saying that rising deficits could only lead to fiscal crisis. HMMM..do we remember that far back. So..if Obama’s main criticism of President Bush was out of control government spending then by Obama’s own admission the United States was already living in a fully “Stimulated” Keynesian economy, right? So if the Keynesianism before didn’t work then that means the Keynesianism now wont work either so that must mean that the only reason we are spending all this money is to simply “Spread the wealth around” and greatly expand the power of the federal government. But wait, that would make Obama a socialist wouldn’t it? Gee who’da figured that a guy hailing from Marxist south Chicago who’s only claim to fame was being a Che Guevara style community organizer would assume the presidency and resort to Stalinesque policy.

Though the President still has 4 more years to pull it back together, and believe me I hope he does, things sure aren’t looking good. The stimulus bill virtually wipes out the Clinton era regulations on expansion of state welfare roles, injects fresh bureaucracy into the healthcare system moving America 1 step closer to socialized healthcare (who the hell knows how we will pay for that), rewards people for terrible business decisions and props up the failing institutions that enabled those decisions.

One of the hardest lessons I learned in life is that sometimes we are going to fail. The same has to be true for individuals and businesses in a free market system. Simple economic principles tell us that the more debt that is shackled to any nation the less that nation’s currency is worth. The only thing that is keeping the dollar from failing right at this moment is that the Chinese keep buying our worthless treasury bonds, financing our debt. They do this in hopes that we the American people will keep buying cheap Chinese products which keeps Chinese workers employed; the only way China’s communist government stays in power. The only problem with that theory is that Americans are losing their jobs and not buying Chinese goods; the problem is global and Americans aren’t even looking at the real reason we are in the crisis and who the only party benefiting is (Can you say The Federal Reserve.) The fact sadly is that while the rest of the world is looking to America for a fix to this massive economic crisis, we have a rookie quarterback on the field who we drafted straight out of high school. While President Obama bumbles around the country and makes ridiculous claims of hope, change, and 4th quarter recoveries, the ship is heading straight for a reef. It’s just too bad for you and I that the bankers at the Federal Reserve have already left in all the life rafts.     

P.H. Rolen is a guest editor for NowPublic.com and editorialist writing from Billings MT. He has written policy papers for The Heartland Institutes Infotech and Telecom Newsletter and has been featured on the worldnetdaily.com commentary page.