Mr. Bush and Mr. Obama, with wide bipartisan support in Congress, intervened in the economy in a massive way. They bailed out companies, whole industries; they legislated massive reforms to several major sectors of the economy. And by sending rubber checks to state governments and to We, the People, they tried to convince us to go out and blow the money to stimulate business activity.
I say rubber checks, because while they didnt bounce upon deposit, they may well bounce in the future. After all, its not as if we wont be forced to pay the money back, plus interest. And, at that dread hour, the rubber may seem more like brick.
First, we were told by President Bush that the solution to our economic problems (and terrorism to boot) was to go out and shop until we drop. Then we were told by both Bush and his second incarnation, Obama, that the solution was for government to borrow or print trillions of dollars to, in effect, let politicians shop until we drop. (And tinker a tad, too.)
All to create jobs. Or — er, to save jobs.
Now the money is spent, the bills are coming due, and . . . surprise, surprise, we dont have the jobs. Seems the real-world is not controlled by some politicians speech or tap dance or Tweet about what he or she can do to create jobs . . . if they can only grab more money away from citizens who have jobs and are actually creating them. Or sink us further into debt.
Even President Obama finally admits as much, at least in the Times of London. In an op-ed jointly authored with British Prime Minister David Cameron, they wrote, Governments do not create jobs: bold people and innovative businesses do.
So, you and I and our over 300 million neighbors are left to gut it out. No complaints, here. Glad to call you neighbor. We can do this.
Yes, we can.