Thursday, August 11, 2011
The Washington Post has a story entitled, "Nervous Democrats say President Obama must be bolder on economy." The sad thing is that Obama has used up his bold efforts on the economy. He had his chance for the first two years of his administration when he had an filibuster-proof control of the Congress and blew it. He spent over a trillion dollars and arguably made things worse with his pork-laden stimulus and increased government interference in the market place. He's out of ideas now or the ones he has are ineffectual and counterproductive. What he could do such as easing up on regulations, pushing through free-trade deals, and allowing more drilling or the construction of the Canada pipeline, he is too beholden to special interests to do. Mostly what he has are calls for more taxes.
His Democratic allies want him to advance some sort of "bold" plan that, even though it wouldn't get through the Congress, he could use in a sort of Trumanesque campaign against a "do nothing" Congress. His aides are listening and promising that he'll lay out some measures for "creating jobs, helping the middle class, and guiding lawmakers on a “balanced” way to cut deficits, raise taxes on the wealthy and adjust entitlements."
It's two and a half years into his term and he's now thinking about these sorts of things. Where he's been all this time? Oh, yeah. Making things worse. And now there is even less federal money to throw around in the kind of ideas he's pondering.