"A Great New Book" —Larry Kudlow, CNBCGet it on AmazonExplore the Book
The horror in Aurora, Colorado, gave President Obama a little cover last Friday. That’s because the Labor Department announced that unemployment rose in 27 states.
President Obama promised to hold unemployment under eight percent if Congress passed the stimulus package in 2009. Congress did, but Obama failed. Remember all those green jobs? They’re gone.
The problem isn’t Barack Obama; the problem is liberalism.
Liberals believe that only experts can make intelligent decisions. They point out that the Beta Max was a superior video cassette technology to VHS, but idiot consumers were too stupid to notice.
Yet, for all their wisdom, the experts seem unable to manage even their affairs.
- Barack Obama’s campaign is losing money faster than Solyndra, and Democrats are worried about his burn rate.
- Businesses increasing tell the government to keep tax incentives because the cost of compliance now exceeds the benefit of tax breaks.
- Despite most intrusive and activist administration in history, it appears the USA is already in recession.
- Barack Obama’s policies have driven more people into poverty than anytime since the Johnson Administration in 1965.
Liberals often point to China as an example of how fabulous a controlled economy can be. But China’s growth was largely cosmetic. The benefit of central control of the economy and the media was that China could hide its problems; it couldn’t fix them. As a result, we know that Bejieng’s sewer system doesn’t work, state-controlled baby formula causes cancer, Chinese banks have been playing dangerous games with collateralized debt obligations-squared, and China’s totalitarian population controls have produced a demographic cliff that could plunge the planet into a Great Depression.
Liberalism is the original good intention that paves the road to Hell.
We can’t blame all the problems with central planning on Obama. But we can and should hold Obama to account for shoving a failed system of misery down America’s throat. We can point out that the man who claims government, not people, build businesses and create jobs is incapable of keeping even his softest promises of eight percent unemployment and a slowly recovering economy. We can and should remind everyone that the man who wants to control all of the US economy struggles to manage the economics of his campaign.
Barack Obama did not invent the failed ideology of central planning, but as its leading proponent he deserves to suffer the same fate his policies have given to the US economy.