By - August 22, 2010

The Commander In Vacations

After a successful week at work, with a half a million more people applying for unemployment benefits, and 50% of those enrolled in the Obama mortgage-aid program leaving the program, it only makes sense it’s time to head out on a vacation… the sixth this year.

This is the summer of recovery, according to Joe Biden.   This summer should be the recovery for free market economics and the death nail of Keynesian economics.  Yet, Obama continues to ride the Keynesian beliefs right to the brink of destruction.

The $800 billion stimulus was the first attempt to prove John Maynard Keynes right. The unemployment would not exceed 8% with the passage of this bill, and millions would be added to the employment rolls. Of course this did not work, mostly because the stimulus was a payoff to Obama’s friends.  We still stand at nearly a 10% unemployment rate, and a 17% true unemployment (U-6) rate and a sinking consumer confidence.  When will we see the return of the Misery Index?

August 11th Obama signed a $26 billion stimulus (jobs bill) to keep teachers, policeman and nurses on the job. As Wayne said last week, the bill was mostly a payoff to the teachers unions.  They are  big supporters of Obama’s (remember the SEIU, and their strong arming opponents of the health care bill?).  Second, nurses are not hired through government funding, yet.   I also did not notice any funding earmarked for any police personnel.

Following the dismal employment numbers, Obama went right to his default position:   We need to spend more money! Now the President is asking for $30 billion to “help small businesses,” and by the way it  “won’t add to the deficit!   Hold on…..I’m choking here….haven’t I heard that before?  Oh yeah, the health care law! How did that work out?  As I recall, it added billions to the deficit.

Before Obama went on vacation he went to Ohio to remind people how his economic plan is working.  While there the President described how the stimulus funds helped architect Joe Wiethman build the infrastructure for a police station. Two problems here: First, the project didn’t use stimulus dollars.  Second, the project isn’t even a police station.

Now Obama vacations at Martha’s Vineyard, where many Democrats go to vacation  (RIP Walter Cronkite!).  It should come as  no surprise the Vineyard had to announce a fecal material infestation in the water there.  Have a great week!

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