President Obama has unnerved the Jewish world, and appears to have emboldened the terrorist world. This does not provide a pathway to safety and prosperity for the United States.
In terms of his economic policy, President Obama is perhaps even more perplexing. As a candidate he expressed all-out disdain for American corporations and repeatedly promised to increase corporate taxes and regulations, expressed anger and “outrage” when corporations reported profits that were too big, and promised to “give back” corporate profits to “the American people.” At the same time, Obama was fond of reminding America that one of his chief economic advisors was investment and wealth creation guru Warren Buffett .
Today, Buffett stops short of admitting that his friend Barack has made any mistakes, but nonetheless admits that the so-called “economic stimulus bill” entailed tremendous waste, that the level of our national debt is staggeringly dangerous, and that the economy is in far worse condition than most people realize. And while I have been anticipating that, eventually, we would see an emergence in the press of the idea that President Obama is “in over his head with the economy,” I didn’t figure this would happen until after the 2010 elections . Only 3 months ago it seemed that President Obama could, politically speaking, continue for the foreseeable future to blame economic troubles on George W. Bush.
But reality has emerged in the media much sooner than I had predicted. Economic news outlets such as CNBC, Bloomberg, and Financial Times have raised concerns over the dangerous levels of deficit spending, while thoughtful writers like Fred Barnes and John Stossel have carefully analyzed the President’s own remarks about economics, and his behavior in office, and have concluded that Obama doesn’t know how the economy works.
But does President Obama simply not “get it” on economics, or is there another issue in play? Certainly the President has an agenda of re-distributing wealth, taking away from “rich people” and giving to those who he believes are deserving. But his policies reach beyond mere wealh re-distribution, and if current policy trends continue, there will simply be less wealth in the United States that can be re-distributed.
It’s becoming increasingly difficult to argue that President Obama is seeking to advance American peace and prosperity – this is so, at least in terms of how “peace” and “prosperity” have customarily been defined. Does President Obama have his own definitions for these terms? And how might his agenda of “transformation” entail something entirely different from anything America has known before?
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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