The Federal Reserve last week issued a gloomy forecast for the U.S. economy. It noted "slower than expected growth" and warned of "higher inflation." Can anyone say "Jimmy Carter"? This and many other signs give the lie to the Obama administration's claims about last year's "summer of recovery" and other rosy scenarios about sluggish economic growth and "job creation."
Do I hear the echo of Ronald Reagan who said during his 1980 campaign for president, "A recession is when your neighbor loses his job; a depression is when you lose yours. And recovery is when Jimmy Carter loses his."
The Obama administration, which now "owns" the economy, as acknowledged by Democratic National Committee Chairwoman Debbie Wasserman Schultz, is incapable of turning things around as long as it remains mired in its Keynesian, redistributionist, punish the successful and subsidize the unsuccessful mentality.
In justifying his vote for meaningful entitlement reform in New Jersey, Assemblyman Angel Fuentes, a Democrat from Camden, told The New York Times, "These reforms are unquestionably bitter pills for us to swallow, but they are reasonable and they are necessary."
Are there enough "reasonable" Democrats in Congress who will join with reasonable Republicans and do what is necessary to repair what out-of-control spending, unlimited benefits and entitlements are doing to the federal government and to the other 49 states? If not, in the coming election, voters will have another opportunity to increase reasonable representation in Congress and in the White House.
Whoever thought traditionally liberal states like New Jersey and Wisconsin would lead the way.
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