Heading Logo

MICHAEL REAGAN: When it comes to economics, Obama doesn't get it

Cagle cartoon syndicate Published: January 17, 2014 4:00 AM

Let me get this straight.

For five years Barrack Obama has been president.

For five years he's demonstrated -- with amazing consistency -- that he has no clue what we need to get out of the ditch and back on the road to real economic recovery.

He's repeatedly demonstrated that he can't work with a divided Congress and he can't, or just plain won't, lean on Harry Reid to allow the Senate to vote on the stack of jobs bills that has been sent over by the House.

The president clearly has learned nothing on the job. And now our multi-clueless commander in chief is so frustrated that he's not getting his way with Congress, he's starting to issue decrees like some tin-pot socialist South American dictator.

[Article continues below]

That's what Obama did this week when he called on Congress to pass his latest list of tried-and-not-true ideas for resurrecting the economy.

If Congress didn't enact his pet policies -- a federal minimum wage hike, another unemployment insurance extension, funding for universal preschool, etc. -- the president decreed, he was going to wield his executive super-powers.

"I've got a pen and I've got a phone," he bragged, "I can use that pen to sign executive orders and take executive action and administrative actions that move the ball forward."

The most powerful leader on the planet still doesn't get it when it comes to economic policy -- and obviously never will. He still thinks like a naive 20-something community organizer from South Chicago who has never had to meet a payroll or raise a dime of capital.

He still believes in the 1930s New Deal myth that it's the government that creates prosperity and growth, not free-market capitalism.

[Article continues below]

And he still doesn't understand that it is lower tax rates, federal spending cuts and less government regulation that encourage businesses to expand, create jobs and hire people.

In Obama-Think, passing a law to jack up the minimum wage, extending unemployment insurance for six months and throwing billions in subsidies at shaky solar companies are considered magical ways to stimulate a sluggish economy and create jobs. In the real world, as we've seen for the last five years, it works the opposite way.

When one political party passes laws making it more costly for businesses to hire humans, companies learn to streamline and get by with fewer humans or hire humans in foreign lands. Can you spell Obamacare?

When jobs become too costly, they get destroyed and they never come back -- by the millions.

]The only way our slow boat to permanent economic stagnation is going to be turned around is if we return to the economic policies of the 1980s and 1990s.

That's when a pair of economically savvy presidents named Reagan and Clinton made sure tax and regulatory policies did not cripple the ability of capitalism to create economic growth, prosperity and jobs.

The whole country needs to be turned into a permanent "Promise Zone." But that's never going to happen as long as we have someone in the White House who doesn't appreciate or like the free market and doesn't know the difference between capitalism and crony ism.

Rate this article

Do you want to leave a comment?   Please Log In or Register to comment.

TaggR Jan 19, 2014 9:34 AM

These republicans can deny and lie all they want. My financial portfolio speaks volumes about the economic situation. And it says to me, "we're making money again" 

writesomething Jan 18, 2014 12:57 PM

Yes, the free market sure worked well with the 2007/08 real estate bubble, didn't it? Unregulated Credit Default Swaps led to a near Depression. Obama's fault was not inreasing stimulus spending during the recession. He tried but the House of Reps favored policies that offer stagnation. Read Paul Krugman, somebody who knows about this stuff.    

portage Jan 17, 2014 9:32 PM

" between $1.8 million and $6.8 million....."  Thanks for the info redleg6. I heard they held assets worth much less, somewhere between $1 and $8mil. Your info really clears it up for me. Are you surprised by their wealth?   What is the Obama's current accurate assets worth compared to past presidents? Are they filthy rich?  

Some people like to pretend what happened during the Bush term never happened. I remember, I lost allot of money in stocks and IRA investments. I lost equity in my home. My income growth became non-exsistent. That has all since changed since Bush left office. My personal economic situation has been improving. And appears everybody here is pointing the finger at Obama for that happening.   My personal economic situation will greatly influence who I vote for come next presidential election. I won't forget 2008-2009 and who was at the helm at the time.


redleg6 Jan 17, 2014 4:40 PM

From: huffingtonpost.com 5-15-2013

WASHINGTON — Newly released federal financial disclosure forms show that President Barack Obama and first lady Michelle Obama held assets last year worth between $1.8 million and $6.8 million.....

Obama gets it.

bob11 Jan 17, 2014 12:52 PM

I just wish he / they would stop trying to make everyone else poor.

little_r_republican Jan 17, 2014 11:10 AM

Oh, obama "gets it". he doesn't care. all he wants is to promote democrat rulership, play golf and go on vacations at taxpayer expense. obama vowed to destroy British imerialism but had to choose the next best evil he could find...American freedom.