The Nightmare of the Obama's Leadership

More evidence keeps pouring in regarding the corrupt, inept Obama administration. While other countries are cutting spending, we increase spending. While other countries are drilling for more oil, Obama takes 78 days to respond to the BP disaster and then has the gall to place a moratorium on more drilling in the gulf. While other countries are making their government shrink (Canada and Australia), our government threatens to gobble all of us up and spit us back out. Our only way out of the nightmare of Obama's leadership is the November elections.

The administration's stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.

But they want new stimulus measures—which is convincing evidence that they too recognize that the earlier measures failed. And so the U.S. was odd-man out at the G-20 meeting over the weekend, continuing to call for more government spending in the face of European resistance.

The contrast with President Reagan's antirecession and pro-growth measures in 1981 is striking. Reagan reduced marginal and corporate tax rates and slowed the growth of nondefense spending. Recovery began about a year later. After 18 months, the economy grew more than 9% and it continued to expand above trend rates.

Two overarching reasons explain the failure of Obamanomics. First, administration economists and their outside supporters neglected the longer-term costs and consequences of their actions. Second, the administration and Congress have through their deeds and words heightened uncertainty about the economic future. High uncertainty is the enemy of investment and growth. READ "Why Obamanomics Has Failed" Uncertainty about future taxes and regulations is enemy No. 1 of economic growth- The Wall Street Jr.

Government Get Out of Our Economy - Let Us Alone and We'll Fix it

I love the title of this article at The Wall Street Journal -

"A Jobs Sigh of Relief"
"A better stimulus plan: Have Congress adjourn until 2011" NOW THERE"S an IDEA!!!

...The news of a better job market couldn't have come at a better time politically given that Congress seems ready to waste more money on more government job creation. The same folks who planned the last stimulus now want to spend a few hundred billion on public works jobs, more aid to states, and another round job of jobless benefits. In some states, workers can now get paid for 18 months for not working. This will give many of them an incentive to postpone a job search even as their hiring prospects improve.

Meanwhile, the White House is thinking about paying home owners to weatherize their homes. Cash for caulkers, we suppose. Now, that'll put millions back to work.

The real message of the November report is that the job market is healing on its own, if Washington will simply let it happen. If Democrats want faster job creation by next November, they'll do nothing at all. Stop imposing new taxes on estates, payrolls, insurance, device makers, drug makers, small business, you name it. Start over on health care. Adjourn for the year, spend December with the family, come back in 2011. And watch Congress's approval rating rise. (Read the whole article at WSJ)