Obama’s Happy Depression

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President Obama’s supposedly rosy view of the economy is designed to justify further intrusion into the economy. And the measures he seeks are eerily reminiscent of Hoover’s favored policies. Cap and trade, Obama’s environmentalist plan, nearly started a trade war when it was merely introduced in Congress. Like Hoover, Obama opposes a carbon tariff that would level the playing field for American businesses disadvantaged by cap and trade — and like Hoover, he has made no suggestion that he would veto cap and trade were it to include such a provision.

Obama clearly favors more spending — in all of his talk about bringing down the deficit, he has never embraced wide-ranging cuts in federal expenditures. Rather, he attempts to blame President Bush for spending that created deficits, despite the fact that in Obama’s first two years, he will have raised the national debt more than President Bush did in all eight years of his presidency.

Obama has focused, as Hoover did, on raising taxes. This week, Obama warned Republicans that he would “call them on their bluff” with regard to deficits. By that, he meant that he would push Republicans to raise taxes in order to prove their dedication to a balanced budget.

Obama justifies all of this, as Hoover did, with empty bravado about the strength of the U.S. economy. The difference between Obama and Hoover is that Obama knows that the economy remains weak. Hoover wasn’t an ideologue; he was ignorant. Obama has Hoover’s example to examine — and he’s willfully imitating it for redistributionist ideological reasons.

We’re entering the Second Great Depression. Unlike the first one, our current administration is pushing America knowingly into the pit, all the while singing, “Happy Days Are Here Again.”

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  • davarino

    What do they have to worry about, these fat cats have their pensions and government guarantees to soften the economic down turn. Of course they need to raise taxes, those pensions arent going to fund themselves, especially in a down economy. Ah yes, its good to be king, you can do anything, especially when you are the first black president. The sad thing about this whole thing is that, after his one or two terms, Obama will go down in history as the worst president. Unfortunately his presidency will be blamed on racist America, because people just didnt give him a chance.

  • max power

    why are so many pieces written as if obama and clown corp. are trying to get the economy improving ?

    they are not …STOP giving them the legitimacy that they are.

    they are actively imploding the economy while buying votes and creating more americans dependent on the government …more vote buying.

    welcome to Zimbabwe …remember what New Orleans looked like after Katrina …that is what the whole country will be like when these assh0les are done.

  • Cuban Refugee

    One of the marked differences between Hoover's Great Depression and Obama's slap in the face of capitalism as he channels Saul Alinsky is that Hoover was not also using the Cloward-Piven Strategy to deliberately bring our country to its knees in every sector. Did Hoover also appoint a cadre of Marxist czars to regulate U.S. citizens to death? If we continue down this twisted road at Obama's breakneck speed to destruction and polarization, "a chicken in every pot, and a car in every garage" will morph into "a race war in every city, and a suicide in every garage."

  • Stephen D.

    I think Newt has it right when this Admin. acts as if it has to fight against big business to impose regulations when in fact big business helped write these regs. It is the SMALL BUSINESS in America that will suffer. After all Tommy's Tool & Die can't meet or withstand the regs that Craftsman can so Tommy's piece of the pie gets "redistributed" 1/2 Gov. & 1/2 Big Business. My question is: how long before we're giving back 80% of our pay for minimal services?

  • TonyM

    Obama is an economic iliterate and a radical leftist ideologue. He may actually believe the economic clap-trap being fed to him by his amazingly brilliant group of economic advisors who are just trying to save their own butts while the economy heads over the cliff. The more Obama speaks, the more he seems to be but a puppet and spokesman for the other looney radicals with whom he has surrounded himself. HIs academic records are sealed because he isn't that bright.