Friday, May 18, 2012

O goes OTT.....


O is going over the top. He is leaning more and more left every day and what's more bizarre he is treating the Presidency like his own personal fiefdom and in the process is attempting to create a public image of himself as the best president America ever had. Trouble is, he has to rewrite history in order to promote the intended image and many are taking umbrage.

O insists on penalizing the rich to make the poor wealthy. This policy is a hallmark of his national budgets and has been a major sticking point with the opposition in the House of Representatives. As they have the power of the purse and are controlled by Republicans, the budget's future looks glum.

But O carries on insisting that we need to spend more to stimulate the economy and we need to finance this spending by taxing the rich. In fairness, he has agreed to make some cuts, but at a rate which may be too little too late.

O has a bevy of economists who swear by his Keynesian economic theories. I find them rather compelling myself, but do not claim to have mastered the subject. A big problem with O's theory is to him, spending has been a matter of reinforcing the welfare state. Giving money away is a far cry from stimulating the economy.

While I may see some logic in Keynes, I see none in perpetuating the well-being of jobless and idle citizens who are content to accept welfare rather than enter into gainful employment. One problem is that the type of employment they are fit for is not gainful when compared to what they get from welfare.

1 comment:

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