The recent flap between Pelosi and the White House over the mid-term elections shows two things clearly: Dems in congress are running scared and they are looking for someone to blame for their poll problems and their failed fiscal policies. In the past, Dems, who have blamed Bush, are now blaming Ronald Reagan for everything from the economy to the BP oil spill.
Reaganomics, so often derided by liberals, was an economic stimulus that fueled over 20 years of U.S. economic growth, job creation, prosperity, and international power. Obamanomics, in just 18 months, has been a spectacular failure, creating the potential for a $22 trillion dollars of public debt by 2020 that will take another 20 years to repay. While, internationally, Obama’s bowing, scraping and tin-cupping has created an image of weakness.
Four basic principles guided Reaganomics: reduce government spending, reduce government regulation, reduce federal income/capital gains taxes, while managing inflation through currency control. Conversely, Obamanomics represents a 180 degree shift from Reaganomics. After 18 months, all Obama can show is increases in government spending, increases in government regulation, increases in federal fees/taxes, timidity on the international stage, combined with a spendthrift philosophy which implies money does grow on trees in DC.
Obamanomics has championed some of the greatest increase in government spending in the history of our nation (Obama’s FY2011 budget submitted to congress this past February was $3.83), with little increase in economic prosperity.
Obamanomics can boast job creation stagnation. Unemployment is currently at 9.5% and, since Obama took office, the country has lost over 6 million jobs.
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Obamanomics promotes an anti-business bias. Businesses are not hiring, expanding or investing. They are hoarding capital against gloomier days ahead and the uncertainty generated from Obama’s policies.
Obamanomics epitomizes government regulation run wild, with tens of thousands of pages of Democrat legislation expanding government’s intrusiveness into Americans’ lives, increasing regulatory requirements at such a burdensome rate that many, such as those in the small business community, are being crushed by Obama.
We’ve come a long way from Adam Smith’s invisible hand to Ronald Ragan’s helping hand to Obama’s heavy hand. The heavy hand of government regulations shows even in areas over which the Obama Administration had complete control, such as government procurements, small businesses are being crushed and have been shut out of federal spending.
For example, Obama’s much touted economic stimulus added four additional layers of reporting requirements on government contracting personnel, with the result that stimulus funding was awarded more slowly than expected, awarded to large businesses that already had existing government contracts. Obama increased the regulatory requirements of government contracting without increasing the number of trained contracting persons to process the federal funding. So, rather than increasing the flow of funding to a struggling economy, Obamanomics has created a tighter bottleneck.
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And, of course, CBO has exposed the Obamanomics’ healthcare centerpiece, which will cost future generations trillions of dollars of hobbling debt, as the opportunity suck-hole that it is, creating huge fees and tax increases to be levied on businesses and American citizens. Is it any wonder that Dems are running scared from the consequences of Obamanomics?
The failure of Obamanomics has nothing to do with race—neither the president’s nor anyone else’s, despite what the left-wing extremists would have Americans believe. Rather, the failure of Obamanomics is the inevitable chaos that results when untested, inexperienced, academic ideologists put their pie-in-the-sky ideas into practice. Obama’s failure is what happens whenever any government uses its power against the people to take power away from the people.
With great economic power comes respect and flexibility—respect on the world stage and flexibility to enforce one’s ideological agenda. Instead, Obamanomics has created a trifecta of troubles—economic instability, government intrusiveness and an international perception of weakness.
Ronald Reagan understood that less government regulations yields more prosperity for Americans. So, it’s painful to watch Obama floundering, desperately attempting to lead, desperately searching for a silver-bullet solution to our country’s economic woes from his idea-deficient team.--all while the solution lies clearly before him.
How painful to watch Obama desperately trying to resuscitate his failed Obamanomics-Keynesian-based policies, desperate to abrogate the indisputable proof that Reaganomics works and Obamanomics doesn’t.
Ronald Reagan once said that “government is not the solution to the problem, government is the problem”, and with the failure of Obamanomics, Obama has proved by his actions that Ronald Reagan was right.
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