Once again, Obama said he has turned the economy around from the disaster of George Bush and things are getting better. And he offered his usual canned solutions to our problems: raise the minimum wage, tax the rich more, create more middle class jobs, blah, blah, blah. In talking about the middle class he commented that the way we do it is to grow the economy from the middle out, as if the middle class is the job creator. Really?
Since we have never been allowed to see his academic records, or any other records for that matter, we don't know anything about his education in economics. Judging from his comments and other similar comments made over the years, I doubt if he knows what the word economics means. Let's take a look at some of his key points:
1. It's all George Bush's fault. This has been his tireless excuse since Day 1 and now, more than 5 years later, he sticks with that standard. I'll be the first to say I was very disappointed in W, particularly his second term. He bought the stimulus mirage from Paulson and company and it headed us deep into the weeds. The bank bailout was a disaster and the "too big to fail" policy was even worse. But since taking office, Obama has put Bush's problem policies on steroids and his crony capitalism has favored the few over the many, resulting in a few getting rich at the cost of many other promising businesses left to rot due to financial resources being drained. How's Detroit looking to you these days, Mr. President?
2. Minimum wage. Let's put this to rest quickly. The minimum wage was never meant to be a living wage. It was a start point for many, particularly young people trying to get their foot in the door. As they learned the business and gained experience, they would look forward to advancement. By increasing the minimum wage as he suggests, the only thing that will happen is the elimination of more starter jobs. Wonder why so many young people can't find a summer job? Look no further, and it will only get worse.
3. Improvement coming from the middle class out. I don't know about you, but I never got a job from a middle class guy. It was always a rich guy with a start up company or one that was expanding. That's the way of capitalism; he who takes risk and puts his "money where his mouth is" with a good plan grows his wealth. And he puts a large part of it toward more growth, hence, more jobs. Obama, however, thinks that we can tax our way to prosperity with the rich paying for everyone else. It has never worked and never will and, what's more, the rich will take their money and put it to work elsewhere. I don't blame them.
If you really want to look at what would work, think less control and regulation, lower taxes, and use of our abundance of energy resources. Americans are controlled, taxes and regulated to death and we refuse to take advantage of our energy riches in favor of idiocy like windmills and solar.
Mr. President, the world isn't ready for your new energy and it certainly won't work if you are the one trying to pick winners and losers. Get the government off our backs, make America competitive with other countries by lowering taxes, and drill, baby, drill. Use our petroleum resources while we are developing new and renewable resources but only if it is done fairly with those getting results being the winners not your hand picked crony contributors. We have the ability to turn things around quickly but we need to get started before Bernanke and company prints us out of existence.
Wake up, Americans, use your head for something other than a hat rack and demand that the government respond to us. We are supposed to be its master, not the other way around. That's what makes us Americans. Stand tall, stand strong, and stand for hard work, the love of God and a return to prosperity for the best land on earth. It's the only way to survive and prosper.