Friday, July 8, 2011

Still Stuck in the Obama Recession

After crawling out, barely and only technically, from the Great Recession, the American economy can't seem to straighten up, let alone walk.  Today the news is that the unemployment rate has risen (link), and that's after a bunch of people have left the job market all together who aren't even counted.  Meanwhile, Obama and his allies keep bashing Republicans with references like "gun to the head", "Taliban", and "suicide bombers".  That's what passes for the new Democrat civility. 

We have a horrific spending problem (link) that threatens to bring down our economy, yet the Democrats want even more government.  More taxes, more stimulus, more debt.  Their real aim is to turn America into a version of the socialist European Union, with its entitled ruling class, crushing government regulation, increasingly uncompetitive economies, and chronic high unemployment.  They're well on their way here, and today's unemployment figure is just more proof.  Obama's has been the weakest post-recession recovery, which is still ongoing, since the Great Depression.

Victor Davis Hansen in "Business Replies to Obama" (link):
The United States has tried the largest stimulus in its peacetime history, with record $5 trillion borrowing in Obama’s first three years. Yet unemployment is much higher than when he entered office. The more he talks of stimulating the economy — with subsidies to “green” industries, government take-over of private enterprise, massive annual deficits and federal hiring, cash for clunkers, etc. — the less the private sector seems to hire or invest....  Those who have saved money and in theory could invest are scared off by uncertainty over new federalized health-care costs, by massive government spending that must be paid back and will cause higher interest rates, and by all the talk of new regulation....  When a Van Jones was in charge of encouraging green job growth, the symbolism is not lost on the guy trying to keep a paving company going.  The list could go on but, in short, hundreds of thousands of employers have sized up this quite extraordinary administration and concluded that it does not ... appreciate or even know much about private employers. And thus the business community has collectively decided to sit tight, keep quiet, and store up cash until this bunch in the White House leaves....  And so now the job creating community that makes America work is replying, in its stasis, that it likes Barack Obama about as much as he likes them.

John M Greco