President Barack Obama has no intention of helping to grow the United States economy. On the contrary, he is doing everything a President can do to weaken it.
I know that sounds harsh. Maybe it seems outrageously “partisan.” Maybe it just seems outrageous.
But after roughly ten weeks, Obama has consistently proposed ideas and plans (and in one case signing legislation) that will weaken the U.S. economy, not strengthen it. To attempt to view this man through the lenses of American prosperity, and to evaluate him with the same assumptions with which the behavior of other modern-day Presidents has been evaluated - - that growing the U.S. economy is a good and noble and necessary thing - - simply makes no sense.
Yet to assess this very different President with a very different set of assumptions in mind - - that American prosperity itself is a problem to be remedied, or that the U.S. has become an economic superpower at the expense of other nations - - only then does his economic behavior appear rational. And it is now clear that President Obama’s objective is to weaken the U.S.
I didn’t arrive at this conclusion quickly. After he won the election, there was a glimmer of hope that his policies could end-up being more rational than his promises, with the appointment of Clinton-era advisor Lawrence Summers and Reagan-era advisor Paul Volcker.
But soon, very harsh Obama realities set-in. Paul Volcker has not once spoken publicly since going to work for Obama, and beltway insiders (and just about everyone who works in the world of financial media) report that Volcker has a nice office at the White House, and has virtually no contact with the President. And while Lawrence Summers has been slightly more visible publicly, Obama’s economic proposals don’t emulate anything of the sort for which Summers is known.
During his campaign, President Obama liked to reiterate that he was being advised on economics by investment guru Warren Buffett. Buffett now deems Obama’s so-called “economic stimulus bill” as largely a waste of taxpayer dollars, and has expressed alarm over the national debt that Obama’s further plans will create. With the majority of the "stimulus bill" devoted to social welfare projects- - "free" condoms, childcare , “cricket control,” tatoo removal, and so forth - - and most funding for infrastructure projects delayed until 2011 and beyond (closer to Obama's re-election race), it's difficult to argue with Buffett's assessment.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.
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