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Thursday, March 05, 2009

WSJ: Obama's Radicalism is Killing the Dow

We warned people last year: if you elect an empty suit with no record in running things who tilts to the far left, you will take a possible recession and make it into a depression.

Well, no one listened, and now we have The Clown™, sitting in the White House, making plans that will destroy the US economy. It is certainly killing the stock market, as the Dow has lost 2,000 points since the naive prick took over in January.

Stepping forward is Michael Boskin, who worked for George Bush 41, who says it straight and with no hesitancy: The Clown™ is killing the Dow.

Obama's Radicalism Is Killing the Dow

It's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown.

Mr. Obama's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined. It reduces defense spending to a level not sustained since the dangerous days before World War II, while increasing nondefense spending (relative to GDP) to the highest level in U.S. history. And it would raise taxes to historically high levels (again, relative to GDP). And all of this before addressing the impending explosion in Social Security and Medicare costs.

Boskin then lists the reasons why this radical garbage that The Clown™ is foisting on the rest of us, with the aid of Nancy Shmancy and Harry "Dimwit" Reid, will be the undoing of the American economy.

Obama. Worst. President. EVER.

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