Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
- Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
Noteworthy up here on Wall Street, a great many Obama supporters — especially hedge-fund types who voted for “change” — are becoming disillusioned with the performances of Obama and Treasury man Geithner.
There is a growing sense of buyer’s remorse.
Well then, do conservatives dare say: We told you so?
Obama administration may rescind 'conscience rule' -- chicagotribune.com
For the Catholics who "voted for change" are you sorry yet?
- WASHINGTON — Taking another step into the abortion debate, the Obama administration Friday will move to rescind a controversial rule that allows health-care workers to deny abortion counseling or other family-planning services if doing so would violate their moral beliefs, according to administration officials.
The rollback of the "conscience rule" comes just two months after the Bush administration announced it last year in one of its final policy initiatives. - Last month, without ceremony Obama overturned a ban on U.S. funding for international aid groups that provide abortion services.
- For more than 30 years, federal law has allowed doctors and nurses to decline to provide abortion services as a matter of conscience, a protection that is not subject to rulemaking.
Want to Understand the Crisis? Then Read This Book by Ron Paul
prosperity.
These fixes
are based on the false belief that the free-market economy has failed.
But it is not the market that has failed. It is intervention into
the market that has failed. The Federal Reserve and its manipulation
of money and interest rates have failed. None of this can be blamed
on the free market, but that isn’t stopping newspaper columnists
from doing so anyway.
Keynesian
so-called economists, led by Paul Krugman, are vainly reaching into
their usual bag of tricks to try to solve the problems of intervention
with more intervention, and nothing is working. But they are persistent.
They’ll keep scrounging around in that bag all throughout the Obama
administration. The slump will continue, since none of these tricks
has the slightest thing to do with the underlying problems in the
economy. All we’ll have to show for them is an empty Keynesian bag
and lot more unpayable debt.
Meanwhile,
who’s being ignored during this crisis? The free-market economists
of the Austrian School of economic thought, the very people who
predicted not only the Great Depression, but also the calamity we’re
dealing with today. The good news is that Austrian School economists
are gaining more acceptance every day, and have a greater chance
of influencing our future than they’ve had for a long time. I’m
told that Google searches for "Austrian economics" are
off the charts.
BitsBlog: Politics from the REAL world... Main page
Now we know exactly who President Obama is, and how he intends to govern.
…President Obama’s speech Tuesday night should put to rest the argument as to who he really is. He revealed plans so sweeping and so expensive that, if they came to pass, we would permanently refashion the role of the federal government in the lives of every American.During the campaign certain Republicans and libertarians tried to convince us Obama was a moderate, a sort of Bill Clinton “third way” reformer — and certainly no radical as conservatives claimed. Conservatives remained skeptical. Then during the transition, the debate as to Obama’s political philosophy continued. He sprinkled his cabinet with sober figures and experienced economic gurus. So perhaps he was moderate in outlook and restrained in ambition.
Next came the stimulus plan. Yes, he delegated the entire enterprise to Nancy Pelosi and the liberal draftsmen in Congress. But perhaps this was an error in judgment, a departure from what he “really” wanted in order to achieve a stimulus plan.
Well, the mystery has been solved. Obama is an unalloyed and extreme liberal. He does not intend merely to slay the recession. He intends to remake the country’s education, health care, and energy policies, with a hugely expanded and enormously powerful federal government directing vast swatches of American life and industry.
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