America is stunned to hear that during fiscal cliff negotiations, Obama actually told House Speaker John Boehner we do not have spending problem!
Apparently Obama hasn’t been paying attention the last four years. Our national debt rose from 10 trillion to 16 trillion! Here’s Obama on David Letterman in September admitting he didn’t know our deficits when he took office and today. Incredibly Obama still says we do not have spending problem and our deficit is not a problem for now!
Of course, Obama blames Bush…apparently Bush spent so much money Obama just had to quadruple the deficit. Huh? Unfortunately for Americans the Obama recovery is worse than the Bush recession! As tax rates surge and Obamacare drives up insurance premiums, employers are demonstrating their unwillingness to hire. Moreover, many employers are expected to cut worker weekly hours from 40 to under 30 to escape Obamacare mandates. Obama, ever heard of the law of unintended consequences?
This is sadly reminiscent of Franklin Delano Roosevelt’s excuses for America’s inability to reemerge from the great depression despite massive government spending and vast bureaucracy to run our economy. Prior to FDR, the U.S. had previously always bounced back from recessions within 1-2 years. The U.S. was the last major industrialized nation to reemerge from the great depression.
FDR ran for president four times, and each time ran against Herbert Hover, who wasn’t even on the ballot. During FDR’s presidency, class warfare rhetoric reached a zenith, and the wealthy kept their money on the sidelines or invested overseas, rather than pay exorbitant income tax rates. The main difference between these two big government progressives is that Hoover called himself a Republican and FDR called himself a Democrat. Doesn’t this sound all too familiar?
Bob Quasius is the founder and president of Cafe Con Leche Republicans.