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Wednesday, February 4, 2009

Obama Evidently Still Clueless as to What Caused Our Economic Woes


I find it hard to believe that he can really be this dense:

Apparently referring to Republican foes of the stimulus plan, Obama said recent criticisms of it "echo the very same failed economic theories that led us into this crisis in the first place: the notion that tax cuts alone will solve all our problems, that we can ignore fundamental challenges like energy independence and the high cost of health care, that we can somehow deal with this in a piecemeal fashion and still expect our economy and our country to thrive."

Obama added: "I reject those theories. And so did the American people when they went to the polls in November and voted resoundingly for change."

Tax cuts had nothing to do with it.  The credit markets were freezing up not because companies weren’t paying enough taxes, but because they were holding onto crappy assets.  Assets that were forced on them by Democrats who made them abandon their normal risk assessments under the delusion that it is every American’s “right” to own a house.  I don’t recall seeing a guarantee to property anywhere in the constitution. 

The American people did not reject any theories when they voted for Obama, because he never offered any alternatives.  They voted for “change,” while having no idea exactly what that meant, because he never told anyone!

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