Much has been said about the success of the Obama Stimulus package over the last 10 months, and the creation of jobs and promoted lift to the US economy. Lets take a look at the fiscal reality’s of the proposed “savior bill”.
It is important to understand the first law of economics, supply and demand and how it dovetails into cost verses benefit. Equally important is that economics is nothing more than a perception of safety, and regardless of all the PHD exposing economic rhetoric, and charts meant to confuse rather than clarify, all economics are driven by a perception of need which drives consumer sentiment and its reaction to the markets.
Back in the early months of the Obama presidency, his team was presented with the potential of a critical meltdown of our and the worlds economic system, the choices made at that time tip the casual observer as to how the Obama administration would view and react to the global economic crisis.
If Obama’s process can be brewed down to a one word definition it would be “leverage”, in both monetary and political policy. We are now all well aware of the “Chicken Little” philosophy implemented by Obama and his team, IE; if we don’t get this, that will happen, now is the time to act, we have to change the system from days of old to insure our fiscal future…. On and on the team took a severe economic slowdown that was created by the legislators on both sides of the isle over the last 12-15 years, and made it by leading of public opinion into a situation that is becoming more black and white each day, which brings me to the second definition of leverage.
Obama and his advisers were challenged with how they would implement their platform of government growth and spread the wealth policies in a severe economic downturn? Easy, spend money to increase cash flow all along the way creating branches of government to oversee the increase in bureaucracy, further swelling the size and scope of the United States government
Now I have been employed in the financial markets for most of my career, and we have a little inside joke, “you can’t borrower nor spend yourself out of debt”! Obama’s implementation of Keynesian economic theory, and goal to control markets via the central bank and fiscal policy to stabilize the output of the business cycle, is and will fail. Whenever you have a mixed economies, (private & government enterprises) the balance is critical for one entity not to overtake the other, while keeping a free market system encouraging growth for entrepreneur’s and middle America the primary engine to economic growth.
This is where the Obama administration revels its greatest flaw, they have overplayed the depth of the problems of our economy, and in doing so out of need to justify there rampant and unwarranted spending their process has dug the hole ever so deeper. Now in an effort to garner as much legislation as possible while the “iron is hot” the Democrats are ramming flawed, pork laden, high cost ineffective bills down the throat of the American public.
By implementing there “crisis” strategy the Democratic house and senate are hedging there connections with the “lame street media” in that they expect this connection will assist in further portraying the “big lie” propaganda as reasonable and needed.
By taking this tact history will have a special chapter dedicated to the current crisis, and many names associated with what can only be viewed as a travesty, will be labeled for what they are, “crooks”. Many new verb’s will be created in reviewing the Great Recession, but one thing is for sure, and you heard it here first, our country has been, “Baracked”.
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