Austin Hill

On the contrary, the Obamas seem to think of themselves as being much more than merely a U.S. President and First Lady. While, in our country, our elected President is merely “one of us,” and is entrusted with a lot of power to lead us for a finite period of time, in much of the rest of the world a head-of-state is more akin to royalty, and is substantively “above” the people he leads. And Barack and Michelle’s “do as I say, not as I do” approach to life looks a lot more “royal,” than it does “presidential.”

As for the President’s accusations about Republicans, his “car in the ditch” metaphor is, as I said, clever. Without specifically using the name “Bush,” this is a clever way to suggest that the downturn of 2008 and 2009 – and this year’s hardships as well – have all been brought about by the fiscal policies of Bush, and Bush’s party. And there is a shred of truth in this suggestion.

To his credit, President Bush and his administration actually tried to curtail the bank-busting sub-prime mortgage markets, and did so on multiple occasions. But the Congress – under the leadership of Republicans earlier in the decade, and then again under the control of Democrats at the end of the decade- refused to heed the Bush Administration’s warnings and instead enabled sub-prime lending to spiral out of control (this is a point that I document carefully in my new book).

But the congressional leaders who ignored the warning signs of the sub-prime mortgage bubble garnered, at the very least, a short-term political benefit: the more people enjoyed the pleasure of “getting a house,” the more these same people “liked” their congressional representatives and were inclined to re-elect them. This is to say that congress “bought votes” by keeping the cheap credit flowing into the market.

The Obama’s, on the other hand, are rapidly losing the favor of the American people. This is not “politics as usual.” Indeed, the era of Obama is something very different.


Austin Hill

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.