Writing about the poor economic situation of the country has become a staple for me. It’s not that I want to continue to write about it; it’s just that it doesn’t improve. That’s not a surprise—the policies being followed by this administration guarantee this result. All one who knows history has to do is look at the 1930s, realize we are on the same path [albeit worse and more ideologically bound], and that the policies of the 1930s never got us out of the Great Depression.
FDR, of course, kept saying that things were getting better. That’s what politicians do. The reality was the opposite. Obama keeps saying things are getting better. He’s just as wrong as FDR was.
New Deal II is just as raw a deal as the first one. And now with the massive deficits, what is the president’s solution? Revoke the Bush tax cuts to make up for the shortfall. First, it won’t accomplish it—even if the richest Americans gave all their money to the government, we would still be trillions of dollars in debt. The other downside is that most small businesses will qualify as “the rich,” thereby making it even harder to create jobs. If we want to see unemployment go up even further, allow those Bush tax cuts to go away.
If you think we’re in an economic storm now, just wait. None of this is President Obama’s fault, according to the administration. Naturally, this is Bush’s doing. Amazing how that desire to blame maintains vitality a year and a half into Obama’s term. He gets a pass where Bush never would have.
The economic picture is not going to improve until we reverse the direction of these policies. There will be no reversal unless the composition of Congress changes. The first Tuesday in November will be crucial.