Make any comment about the deepening economic mess and you can count on the same comment from Obama defenders: “he inherited a mess.”
But why was the economy a mess in January when Obama was inaugurated? The mechanical causes of the downturn were high gas prices and the bursting of the real estate/mortgage bubble. But far more important was the crippling fear that Washington was growing out of control. Bush started it with his damaging deficits and bailouts, and Obama has escalated things to levels that can’t possibly be sustained.
Business started losing confidence last summer when it became clear that Big Government (think Jabba the Hut) would be elected. Expansion stopped, plans to cut costs began and the stock market started its decent. We’ve suffered enormous reductions of wealth in the past year.
So where’s the recovery? To use a weather analogy, every time a green shoot appears in the business sector, the hard frost of government slaughters it. What sane business leader will expand when the forecast calls for higher taxes, further regulation, damaging social engineering and more promises than can possibly be delivered?
When you think “he inherited a mess”, you act in a way that compounds the damage. Obama’s plans for steep energy taxes, VA-style health coverage for all and redistribution of wealth are pushing the economy into a nuclear winter.
Every morning I think: kids, I’m sorry my generation has left you such a mess.
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