Obamanomics: Radical or Incompetent?

by Sal on March 9, 2009

in Economy,Politics

Obama’s economic policies represent a greatest departure from the course of American Capitalism in a generation. Through the stimulus bill and Budget proposals, Obama is following in the footsteps of Herbert Hoover and FDR, both of whom had similar tax-and-spend policies coupled with severe trade restrictions that pushed our economy into a decades-long depression that was only ended with the onset of World War II.  Are Obamanomics the result of a completely genius radical ideological worldview that wants to see America fundamentally remade, or is it the result of complete and utter incompetence?

Obama seems to show a lack of understanding of market forces and of the economy in general.  He exhibited a complete lack of understanding of the market while at the same time claiming his policies would put an end the business cycle so that future recessions would not happen.  His policies punish achievers and will cause great harm to our nation’s small businesses.  His tax-and-spend policies will keep the nation in recession, or severely curtail a robust recovery.  If you add all of that to the massive amount of new money added to the economy over the past few months, money that doesn’t exist for any other reason than the government printing it and saying it exists (by “borrowing” it from China and other nations), you have a recipe for Carter-era stagflation, a period in time with stagnant or negative economic growth coupled by rapidly-rising inflation.

So is Obama a radical intent on remaking America, or is he simply incompetent?  Evidence and arguments could be given on both sides of the issue, but either case is dangerous for America and harmful to our way of life.

{ 3 comments… read them below or add one }

Mr. Blue March 9, 2009 at 1:16 pm

He’s incompetant. No argument needed.

Anyone who advocates MORE gov’t spending on the heels of a market correction is an idiot. We were seeing signs of recovery before they startred in all these bullshit spending bills.

Of course , this must now mean that I am a racist. If so then I welcome the accusation.


Tom Chubco Bear March 9, 2009 at 2:22 pm

Mr. Blue,
You are NOT racist, just correct. This administration (Obama) has an agenda. It has very little to do with financial recovery. It is a socialist agenda, pure and simple. I hope the GOP or Blue Dog Democrats can stop him. If not, Mr. Blue, we are screwed. Bear


Ron Russell March 10, 2009 at 6:45 am

Tom, I’m with you, Obama doesn’t care about the economy—he hates capitalism and everything it stand for and will do everything in his power to tear it down. Stop and think about it–his mother and father were both socialist(and there I’m being kind), the Rev. Wright (no friend of capitalism). All this guy wants to do is tear down capitalism in this country and replace it, not with a European style socialism, but rather some radical form such as Mugabe has in Zimbawee—I love to call it “Kenyan Keynesianism”.


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