Tuesday, March 3, 2009

Is Everyone Happy Now?

We all joked about worse than Carter. It's really not funny any more! President Obama's craptastic leadership abilities are bringing this economy to a screeching halt and he has no one to blame but himself. And perhaps Rahm Emanuel. From the Wall Street Journal:

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.

Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.

[Review & Outlook]

The Democrats who now run Washington don't want to hear this, because they benefit from blaming all bad economic news on President Bush. And Mr. Obama has inherited an unusual recession deepened by credit problems, both of which will take time to climb out of. But it's also true that the economy has fallen far enough, and long enough, that much of the excess that led to recession is being worked off. Already 15 months old, the current recession will soon match the average length -- and average job loss -- of the last three postwar downturns. What goes down will come up -- unless destructive policies interfere with the sources of potential recovery.

Meanwhile, back at the ranch, Obama is concerned with Rush Limbaugh being mean to him. Oh, and all that schtick about President Obama making the rest of the world love us again due to his beyond words amazing ability to use "diplomacy"? Russia just gave us the middle finger. I think they may have taped a "kick me" sign on us, too.

Wake up and smell reality, Libs. This guy doesn't know his head from a hole in the ground.