Sunday, July 5, 2009

Obama Administration "Misreads" the Economy

It is hard to understand how any of Joe Biden's comments about how the adminstration "misread" the economy could possibly be an honest evaluation. First, according to Obama the Stimulus bill had to be passed immediately, or the nosedive the economy was taking would be "irreversable". The bill is passed with no time for anyone to read it, and Obama then takes a leisurely four-day holiday before he signs it! Now, with only 5% of the stimulus money spent (with the rest apparently saved to get Democrats re-elected in 2010 and not needed immediately), unemployment rises toward 10%. And Biden has the gall to claim ignorance! If this is indicative of the administration's management skills, what can we expect of the one-two punch in America's gut when "Obama-care" and "Cap & Tax" become law? Or do they really care how bad the economy gets? Maybe a collapsing economy is just what they want - another crisis they can take advantage of for a complete power grab. As Steve Buscemi said in "Armageddon", "This looks like Dr. Seuss' worst nightmare!"


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