Let’s return to the economic situation today. Now that the “Summer of Recovery” has ended and recovery is nowhere to be seen, what can President Obama say to create confidence in the citizenry?
The real question is how many people still believe this. Judging by the polls, not too many. Many commentators are predicting a tsunami of unprecedented [to use one of the president’s favorite words] proportions. They’ve seen what this Democrat Congress has done.
Tax increases will only drown the economy more. By allowing the Bush tax cuts to expire—which is what the majority of Democrats want—things will only get worse. Now, of course, some are saying they only want to let the cuts expire on the “wealthy.” Those wealthy include anyone with a small business in which that business makes more than $250,000 per year. It doesn’t mean the owner of the business profited by that much, and raising the taxes will depress employment further; small businesses are the main employers in the country.
Obama wants to blame the Bush tax cuts for the deficit.
Perhaps he should look at the other side of the sinking boat.