"A wise and frugal government which shall restrain men
from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government."
(Thomas Jefferson)

Monday, August 8, 2011

IBD Editorial: The President Owns This Bad Economy

When you stop to think about the last 2 1/2 years since Obama took office, we have seen no real leadership but someone who demands his own way or throws a tantrum taking his ball and going home.  Even the Hillary supporters are saying she should have been elected as the Democrat nominee and are encouraging her to run against Obama.  They have brought back the 3 a.m. phone call as evidence.  Why didn't she challenge Obama at the Democrat Convention or challenge some of the caucus votes?
Real leadership means recognizing that the buck stops with you. This president owns this economy and everyone knows it. But he won't own up to the obvious. (IBD editorial)
That quote is so true!
Editorial: The President Owns This Bad Economy 
Posted 07:08 PM ET 
Leadership: Reacting to the U.S. credit downgrade, President Obama gave a damaging statement proving he has learned nothing from his ideological mistakes. A true leader accepts blame — and reality. 
The Dow fell Monday by over 634 points in the worst drop since the 2008 financial crisis, a clear reaction to President Obama's politically self-defensive statement on S&P's unprecedented credit downgrade of the U.S. 
The president uttered the same disingenuous banalities we've heard for months. He insists "it's not a lack of plans or policies that's the problem here. It's a lack of political will in Washington. It's the insistence on drawing lines in the sand, a refusal to put what's best for the country ahead of self-interest or party or ideology." 
Well, you are Washington now, Mr. President. 
He's the one who refuses to put his country above the self-interest of himself and his party, so devoted to the cause of ever-expanding big government. 
It's Obama who drew an irrational line in the sand on including tax increases in a debt-ceiling deal, drawing out a deal that could have been reached much earlier. 
It's the president who in 2008 told Americans that, if he was elected, Washington would find its political will. It turns out, by "political will" Obama means his way or the highway. 
Finally, contrary to the president's claims, it most certainly is policy that is to blame for the U.S. downgrade. Just look at the deficit figures for the Obama years. 
How appropriate that S&P has also downgraded the government-sponsored enterprise mortgage monsters Fannie Mae and Freddie Mac. It was the politicization of mortgages, with those two public/private entities as enablers, that caused the 2008 financial crisis. 
Excerpt:  Read More at IBD

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