The President Admits The “Recovery” Is Smoke And Mirrors
In my view, true recovery is one that has a lasting foundation of effective business policies, fiscal sanity and monetary restraint. A Democrat recovery, we now know, is a house of cards created and sustained by writing hundreds of billions of dollars in hot checks (h/t – Lloyd Bentsen). Don’t believe me? Here is what the President had to say today:
But we’ve also seen the effects that political dysfunction can have on our economic progress. The drawn-out process for resolving the fiscal cliff hurt consumer confidence. The threat of massive automatic cuts have already started to affect business decisions. So we’ve been reminded that while it’s critical for us to cut wasteful spending, we can’t just cut our way to prosperity. Deep, indiscriminate cuts to things like education and training, energy and national security will cost us jobs, and it will slow down our recovery. It’s not the right thing to do for the economy; it’s not the right thing for folks who are out there still looking for work.
Did you get that? Cuts will hurt the economy, so it stands to reason that the only engine driving the “recovery” is deficit spending. Not wise policies. Not robust growth in the private sector. The miserable, pathetic, cowardly plan of borrowing from our children to avoid pain now.
The President is too clever by half. Most of his low-information supporters have bought into the self-fulfilling prophecy that deficit spending sustains the economy, so reducing the deficit hurts it, and therefore we CANNOT cut spending. At all. Ever.
The Big Truth at the heart of this belief is that Obama has nothing left. He has no plan. He has no policy of growth. His business killing regulations have begun to kill the geese that lay the eggs, and he has nowhere else to go. There will be no increase in tax revenue through growth, just by confiscating more of the shrinking pie, which leads the pie to shrink further, which leads to…well, you get it.
The argument that spending restraint will cripple the economy is also an admission that Barack Obama’s policies have utterly failed, and the only thing he has to lean on is deficit spending.
The house of cards is tottering. It will soon fall.