“Those who don’t know history are destined to repeat it.” –Edmund Burke
President Barack Obama’s arrogance has failed his judgment and good common sense. Political rhetoric and the ability to deliver a good speech by reading a teleprompter, has failed to deliver on the many grandiose promises he’s made, for such a smart guy Obama sure doesn’t know a lot of things.
The federal budget deficit last month rises to $165.04 Billion eclipsing revenue for the 22nd straight month but the Democrat-Socialists answer to out of control federal spending is mortgaging the futures of Americas children, grandchildren and great-grandchildren with more federal spending.
Last week, House Speaker Nancy Pelosi, summoned Members of Congress back to Washington and on Tuesday it was back to business as usual in Washington with the Obama Administration calling on his Democrat-Socialist minions to pass his $26 Billion Dollar Stimulus bill for Teachers Unions, yet another spending bill the others were such a roaring success—where are all those 3 million saved or created jobs that the Obama Administration spoke about just last week while claiming that the Economic Stimulus was on track to save an additional 500,000 by the end of 2010?
With so many jobs being added or saved, why the rush to spend $26 Billion Dollars more this week?
“The pace of economic recovery is likely to be more modest in the near term than had been anticipated.” Those were the carefully chosen words of the Federal Reserve Board after their meeting on Tuesday—Translation into English: We wuz wrong.
So were lots of people, including White House Economics Adviser Christina Romer (who is headed back to teaching Economics to college students at Berkley) who wrote that the Obama Democrats 2009 Stimulus package would hold unemployment below 8 percent.
More here Obama’s State Capitalism: A Failure of Modesty by Michael Barone
Related: Jobless Claims rise to highest level in 6 months–Yahoo Finance
Recovery Summer Melts Away by Jonah Goldberg–National Review Online
