Obama and Frank, men who have managed a total of zero businesses between them, believe they have the fiscal acumen to dictate when profits should be made in the (no-longer-very-free) market. What happens when the next president -- one you might not have the same unfathomable adoration for -- begins injunctions on profit? Well, then, I suppose, we can call it an abuse of executive power.
In a Washington Post op-ed this week, Obama, who quickly has transformed from an inspirational candidate to the pessimist in chief, admitted that his spending plan "is more than a prescription for short-term spending -- it's a strategy for America's long-term growth and opportunity in areas such as renewable energy, health care and education."
Well, then it is not a stimulus bill; it is a left-wing omnibus bill to restructure the economy without much debate. Unless you believe $4.2 billion for "neighborhood stabilization activities" -- or any of the everlasting partisan pork in the bill -- can save a job.
The executive pay cap bill may not be the end of the world. Many, though not all, executives were reckless, irresponsible and selfish. (The salary cap, incidentally, would not punish anyone retroactively, though it certainly would discourage competent CEOs from taking over troubled companies.)
Then again, what could possibly be more reckless than spending a trillion dollars you don't have on a plan that you have no evidence will work?
What could be more irresponsible than doubling the generational debt for your partisan pet projects in a time of crisis?
And what could be more selfish than stifling debate by deploying fear to induce voters into supporting it all?
Carney: Okay Fine, Senior Officials Knew the IRS Report was Coming, but Nobody Told Obama | Guy Benson