Things getting worse?
Bensblurb # 562 July 27, 2010
Things are getting worse; no, better...
Steve Forbes---Now, in the midst of another economic crisis...Washington is at it again, this time with a far more ideologically rigid President than FDR....Thus it will take several years for surviving health-care companies to become full-fledged vassals of the federal government, which will dictate what policies are offered and at what prices. The new financial “reform” bill is taking the same approach--its language is intentionally vague in order to give bureaucrats enormous discretionary powers...If the Administration has its way, Washington’s tentacles will extend over the entire economy. the President tipped his hand early on...when he implored young people to pursue careers in government instead of in the private sector. He made it clear that those who enter private companies are succumbing to greed and selfishness, while those who become bureaucrats--“public servants”--are somehow more noble and more concerned with the public good.
Frank Donatelli, in Politico--Obama says the economy is headed in the right direction; jobs are being created, not lost, and he is doing everything possible to revive the “worst economy since the Great Depression.” Most of the national press has been remarkably accepting of this narrative — even if the president has been vague, at best, about when we might finally see an uptick in economic growth and job creation. But in another economic time, President Ronald Reagan’s economic recovery program took 17 months to take hold. It took from the time Congress passed his tax cuts, in August 1981, until the recession he inherited finally ended in January 1983. Unemployment hit a high of 10.8 percent in December 1982. But then economic growth spiked, and the unemployment rate began a long, steady decline throughout the 1980s... Tax cuts were a part of Reagan’s effort to cut the size and scope of government to fight economic stagnation. “Government is not the solution,” Reagan said in his remarkably clear inaugural address. “It is the problem.” In addition to tax cuts, Reagan reduced domestic discretionary spending and streamlined regulations to make them less of a burden on businesses seeking to create jobs. He believed that government should give individuals and businesses the proper incentives to grow and expand and not inhibit the private sector with high taxes and cumbersome regulations. Reagan faced obstacles that Obama did not. The House he had to work with was always controlled by Democrats. More ominously, inflation was running at double-digit rates, and it took nearly a year for the Federal Reserve to squeeze those pressures out of the system. Regardless, in the end, Reagan’s program worked. The turnaround began 17 months later. Fast-forward to today. The Obama administration says that government-directed investment, via huge spending increases, can revive the economy. It’s now stimulus plus 17. Is there a turnaround in sight? Apparently not.
NOTE: The next report on monthly unemployment, for July, will come out Aug. 6.
Congressional careers hang in the balance, although it’s said that the report for June is typically more instrumental in setting the tone--now gloomy for Dems-- for the fall elections.
Meanwhile, for conservatives, a sunnier assessment:
“The Political Left is in a meltdown. There’s no way to sugarcoat the calamity. It is falling apart. It sees the tide has turned and a possible tsunami is building, ready to crest and explode in November, washing all their dreams away. How could this be happening to them? Could it be that trillion dollar disaster otherwise known as the ‘stimulus,’ that emergency measure needed to save the economy by creating millions of jobs except it’s accomplished absolutely nothing except putting our grandchildren yet another trillion dollars in debt? Or the auto company takeovers, something no one wanted and Congress never authorized as part of the TARP bailout fund? Or the appointment of one radical after another to nanny-state us all, including now the just recess-appointed Dr. Donald Berwick to oversee ObamaCare, a Marxist who proudly calls for the redistribution of wealth and who absolutely adores Britain’s onerous National Health Service, rationing and all? Or any one of a thousand other radical ventures proposed/discussed/enacted by this radical leftist regime?--Nah.” --Brent Bozell, in Newsbusters
Inside the Beltway, still no answer about why Shirley Sherrod wasn’t offered her old job back by USDA. Stay tuned.
--Ben Blankenship
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Things are getting worse; no, better...
Steve Forbes---Now, in the midst of another economic crisis...Washington is at it again, this time with a far more ideologically rigid President than FDR....Thus it will take several years for surviving health-care companies to become full-fledged vassals of the federal government, which will dictate what policies are offered and at what prices. The new financial “reform” bill is taking the same approach--its language is intentionally vague in order to give bureaucrats enormous discretionary powers...If the Administration has its way, Washington’s tentacles will extend over the entire economy. the President tipped his hand early on...when he implored young people to pursue careers in government instead of in the private sector. He made it clear that those who enter private companies are succumbing to greed and selfishness, while those who become bureaucrats--“public servants”--are somehow more noble and more concerned with the public good.
Frank Donatelli, in Politico--Obama says the economy is headed in the right direction; jobs are being created, not lost, and he is doing everything possible to revive the “worst economy since the Great Depression.” Most of the national press has been remarkably accepting of this narrative — even if the president has been vague, at best, about when we might finally see an uptick in economic growth and job creation. But in another economic time, President Ronald Reagan’s economic recovery program took 17 months to take hold. It took from the time Congress passed his tax cuts, in August 1981, until the recession he inherited finally ended in January 1983. Unemployment hit a high of 10.8 percent in December 1982. But then economic growth spiked, and the unemployment rate began a long, steady decline throughout the 1980s... Tax cuts were a part of Reagan’s effort to cut the size and scope of government to fight economic stagnation. “Government is not the solution,” Reagan said in his remarkably clear inaugural address. “It is the problem.” In addition to tax cuts, Reagan reduced domestic discretionary spending and streamlined regulations to make them less of a burden on businesses seeking to create jobs. He believed that government should give individuals and businesses the proper incentives to grow and expand and not inhibit the private sector with high taxes and cumbersome regulations. Reagan faced obstacles that Obama did not. The House he had to work with was always controlled by Democrats. More ominously, inflation was running at double-digit rates, and it took nearly a year for the Federal Reserve to squeeze those pressures out of the system. Regardless, in the end, Reagan’s program worked. The turnaround began 17 months later. Fast-forward to today. The Obama administration says that government-directed investment, via huge spending increases, can revive the economy. It’s now stimulus plus 17. Is there a turnaround in sight? Apparently not.
NOTE: The next report on monthly unemployment, for July, will come out Aug. 6.
Congressional careers hang in the balance, although it’s said that the report for June is typically more instrumental in setting the tone--now gloomy for Dems-- for the fall elections.
Meanwhile, for conservatives, a sunnier assessment:
“The Political Left is in a meltdown. There’s no way to sugarcoat the calamity. It is falling apart. It sees the tide has turned and a possible tsunami is building, ready to crest and explode in November, washing all their dreams away. How could this be happening to them? Could it be that trillion dollar disaster otherwise known as the ‘stimulus,’ that emergency measure needed to save the economy by creating millions of jobs except it’s accomplished absolutely nothing except putting our grandchildren yet another trillion dollars in debt? Or the auto company takeovers, something no one wanted and Congress never authorized as part of the TARP bailout fund? Or the appointment of one radical after another to nanny-state us all, including now the just recess-appointed Dr. Donald Berwick to oversee ObamaCare, a Marxist who proudly calls for the redistribution of wealth and who absolutely adores Britain’s onerous National Health Service, rationing and all? Or any one of a thousand other radical ventures proposed/discussed/enacted by this radical leftist regime?--Nah.” --Brent Bozell, in Newsbusters
Inside the Beltway, still no answer about why Shirley Sherrod wasn’t offered her old job back by USDA. Stay tuned.
--Ben Blankenship
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