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Tuesday, March 17, 2009
Marvin Olasky :: Townhall.com Columnist
The Obama Depression
by Marvin Olasky
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What was the biggest suprise of Election Day?



Washington news keeps marching in like a lion, and only the Lamb can stand against it.

Throughout the election campaign I wanted to think the best of Barack Obama. Because of his stand on abortion and other matters I opposed him, but still kept in mind a big positive: Obama as role model, showing some among our most alienated the fruits of education, hard work, and marriage.

I hoped that maybe, just maybe, a President Obama would graduate from campaign mode and apply cool rationality not just to winning votes but to strengthening our economy and America's position around the world. That hope has evaporated.

Obama's role model is Franklin D. Roosevelt, yet Obama evidently is not familiar with Amity Shlaes' fine book, The Forgotten Man (Topical Depression [http://www.worldmag.com/articles/13804], March 8, 2008). Obama says he is embracing "experimentation—if that doesn't work, then you do something else." Shlaes shows that what FDR called "bold, persistent experimentation" deepened and lengthened the 1930s Depression: Businesses faced with ever-changing rules didn't know whether to invest or hunker down.

At least, though, FDR famously said, "The only thing we have to fear is fear itself." He tried to raise the nation's spirits. Obama, though, has repeatedly dampened them with his self-fulfilling prophecies of gloom. Why? Well, look at what the Bush recession did for Obama: It got him elected president, and it has now given him hundreds of billions to spend pretty much as he and his appointees see fit.

If a recession offers such privileges, what about a depression? Imagine an Obama Corps with millions of workers. Imagine, if much of the nation's wealth dissolves, the opportunity to educate children in the virtue of government requiring everyone to "share."

Ah, isn't there political danger here? Won't Democrats pay at the polls in 2010 and 2012 if the economy doesn't improve? Not if Obama and his media soulmates play it right. Already the drumbeat has begun: The problem with the stimulus bill is not pork and the power it gives to Obama to reshape America in his own image. The problem, according to New York Times columnist Paul Krugman, is that the stimulus bill should have been twice as big.

Look at Newsweek's March 2 cover story. Jonathan Alter wrote that Obama "can look successful even as hard times continue. . . . The package is so big, and stretches across so many states, that it provides him at least four years of photo ops. . . . Once these mental pieces are fastened in place and we're fully 'in recovery,' to use therapy lingo, the enduring problems won't seem so terrifying anymore. . . . The longer the recession lasts, the more points Obama will put on the board. . . . Obama will likely package and sell health-care reform, a new energy policy and even national service as 'recovery and reinvestment.'"

Obama has billions of reasons to keep us in a state of crisis. Every time through the end of February that Obama opened his mouth, the stock market went down: Accidental? One equities manager, Peter Kenny, explained an afternoon decline on Feb. 25: "As we came close to the bell we got the curveball: our president came on TV."

Some evangelicals are responding to Obamania by heading to the hills: Y2K hysteria in 1999 was a false alarm but this new administration is a four-alarm fire. Maybe, but if you're tempted that way, read one of the Bible's great history chapters, Hebrews 11, and then its conclusion in chapter 12: "Therefore, since we are surrounded by so great a cloud of witnesses, let us also lay aside every weight, and sin which clings so closely, and let us run with endurance the race that is set before us, looking to Jesus. . . . Consider Him who endured from sinners such hostility against Himself, so that you may not grow weary or fainthearted."

Is our present situation painful? Hebrews 12 continues, "Do not regard lightly the discipline of the Lord, nor be weary when reproved by Him. For the Lord disciplines the one He loves, and chastises every son whom He receives. . . . For the moment all discipline seems painful rather than pleasant, but later it yields the peaceful fruit of righteousness to those who have been trained by it."

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About The Author
Marvin Olasky is editor-in-chief of the national news magazine World, provost of The King's College, and a professor of journalism at The University of Texas at Austin. For additional commentary by Marvin Olasky, visit www.worldmag.com.
 
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I am so tired of hearing
this is Bush's recession. This was planned-a blind man could see it. Although I do think it went a little further than they planned. As with virutally every crash of the US market since the 1840s it is the bankers (not your local banker but the large international bankers) it is conducted to grab more power and make the the super rich richer.

Ask yourself this.

2008-nothing in the world had changed much, we were supposly in a recession, yet gas prices jump to over $4/ga. Economics would tell you gas prices should drop-recession equals less consumption. Gas prices were raised for two reasons (among others)

Have small business and corporations reduce infrastruce investment

Push the homeowers over the edge that bought the house they could barely afford on a 40 mile commute at $2/ga.

Everything we talk about concerning freedom is a waste until we get control of our money.

will, you liberal MORON
The markets started to tank when the world's greatest grandmother and her flock of lib fools took conngress in end 2006/2007 and the markets saw the libtard frenzied tax axers tell them " YOU WILL SUFFER A GREAT BEHEADING OF TAX WHEN WE EXPIRE THE GWB TAX CUTS IN A FEW YEARS, NO MORE 15% ON DIVIDENS AND CAPITOL GAINS, THE AX THAT WILL BEHAD IS SURELY COMING IN A FEW YEARS".
So, NO Goerge Bush didn't destroy the economy, the LIBTARDS Pelosi and Reid did, and they STILL WEILD THAT AX THAT CRUSHES WALL STREET THIS VERY MOMENT.
Wake up libtard, your goons have declared a massive strike on wall street veins by declaring the tax cuts will expire, so any gains now achieved wil be spiked and your lib congress is set to STEAL THEM ALL - and make no mistake, after they secretly agreed to all the bonuses AIG had contracted, they went into psycho fake alarm mode when the public looked at their trillions of dollars of corporate and family and lawyer and acorn bonuses, and they picked a target to blame all the hundreds of billions of payoff dollars they wasted, THE DEMOCRAT CONGRESS AND THE DEMCORAT PRESIDENT WITH TOTAL CONTROL -
No sir, this is not a GWB problem, you libtards declared the Wall Street tax holiday over, DESTROYED the world markets, then decided YOU would rake TRILLIONS from the Americans pockets and pay off your friends and families and investments all the while screaming it's someone else's fault and doing.
YOU SIR, SUPPORT 100% CON ARTISTS AND CRIMINALS.
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