Senator Reid declared, on the floor of the Senate that “the rich are getting richer and the poor are getting poorer.” It was a clear admission that the economic policies, plans and promises from the Left have failed, or have they? Must we alter what the definition of what success is? Is this the fundamental transformation the President had in mind?
Available options to motivate and enhance economic growth have been ignored; allowing repatriation of oversees profits which could provide a 2-3 trillion dollar ‘stimulus’ is not on the agenda. Instead, all manner of entitlements have been aggressively promoted by the administration. The EPA has waged a war on the coal industry and will likely do so over fracking. The Keystone pipeline could produce 40,000 jobs, no joy! Government land available for energy exploration has shrunk. No commitment to nuclear power. No serious action on debt and deficits; resulting in 2013 GDP growth of less than 1% (.007), the lowest growth rate since the 1930’s. Small business lending has dried up, community banks are in jeopardy of regulatory cavaet and each new forecast tells us that original ObamaCare cost estimates were chimera and will become a major economic drag. ‘Real’ unemployment is 16%, wages remain stagnant and workforce participation is at its lowest level in decades. Unfunded entitlements dwarf the fiscal deficit by $40 – $60 trillion dollars. Additionally, the President wants immigration reform that will provide amnesty and further depress wage rates. The idea of a 1% reduction in real spending was too draconian for the President, but the idea of regulatory Fascism that cost $112 billion in 2013 is just fine, thank you. Any reasonable estimate could factor over one million potential job losses just due to regulation. And which ‘new’ face do we bring into the White House, John Podesta who supports executive action by way of regulation and has opined that deploying the U.S. Military on home soil would be a good idea.
The President has made no major changes in his economic policy or entertained alternative views and proposals. The question is left begging; what is economic success to this President? Could it be possible that our view of failure is the President’s view of success?
The President’s answer is simple; ‘let’s have more of the same.’ The Class Warfare script is being dusted off: target the rich; ‘fairness’ which is never actually defined as well as a tug on the heart strings about ‘caring’ based on melodramatic individual stories about life under the Obama economy. More unemployment benefits, higher minimum wages and the bromide that it’s all about the Middle Class. The Middle Class are the folks working two jobs to pay these bills and suffering from all of the aforementioned missed opportunities and realities. The Middle Class is being bludgeoned by ObamaCare, energy costs, food prices and the underlying dynamics of President Obama’s economy which eschews actual economic growth.
Investments are a consistent theme of the President. We’ve ‘invested’ over 4 billion dollars in failed green energy companies; we could have paid for four years of college for 50,000 students with that money! It is all about choices and the President’s choices are telling.
If perception truly is reality 79% of us believe we’re still in a recession. Economists tell us the recession was technically over years ago, most Americans simply don’t feel it and don’t believe it. This must be the fundamental transformation the President had in mind. This must be his plan to devolve an America that he clearly thought was too big for its britches; too successful, too rich, too powerful.
This is what success must look like to the President based not only on what he does but even more importantly what he does not do.