President Obama gave his speech on the economy today. There were no new ideas.
During the speech, he said that we are creating jobs and fighting our way back from the worst recession since the Great Depression [I no longer believe this had to be the case.]
He said we are doing better than the last recession. [Hello?]
He is worried about Europe and talked about its effect on our economy.
He sees Europe’s salvation as resting in deeper collaboration on budgets and banking policy. With that statement, he was referring to fiscal totalitarianism.
He praised people like Francois Hollande and Andrea Merkel who are moving in the right direction by working to put a growth agenda in place.
Andrea Merkel is not in agreement with Hollande. President Obama’s idea of growth is his failed tax and spend policies, which conform to Hollande’s, not Merkel’s.
As an aside, Hollande has formed a comfortable coalition with the French Communist Party and he himself is a self-described Socialist.
Obama downplayed the debt crisis in Europe.
He said that only a couple sectors in our economy are doing poorly – government hiring and construction. “The private sector is doing fine,” Obama said. “Where we’re seeing weaknesses in our economy have to do with state and local government.” [The private sector is doing fine? Hello? Hello?]
“If Republicans want to be helpful, if they really want to move forward and put people back to work, what they should be thinking about is how do we help state and local governments,” he added.
Obama blamed the Republicans for not passing the jobs plan budget that even Democrats would not vote for. He blamed the Republicans for not putting teachers, firefighters, police and construction workers back to work. He wants another stimulus – the jobs plan budget.
The one thing I do agree with is that severe cuts alone would not be enough and a growth agenda is needed. However, we haven’t cut a thing and his idea of growth is tax and spend – that’s a problem.
Obama is the ultimate Keynesian.
The other point that Obama is missing, which he should have gotten from the Wisconsin vote, is that people don’t want government jobs to keep growing in this economy.
By contrast, Mitt Romney said that he is going to cut spending and move towards a balanced budget.
“My job is to get America back on track to have a balanced budget,” Romney told a crowd in Cleveland, adding that “I’m not going to cut $1 trillion in the first year.”
Romney referred to Obama’s speech and asked if Obama was really that out of touch and detached. My answer is yes, he is.
President Obama’s speech –
Mitt Romney’s speech in San Antonio –
Governor Christie’s reaction –
After saying the economy was doing fine, Obama clarified by saying it is not fine – that’s clear as mud –