A Missed Opportunity To Accomplish Something

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The economic reports coming out this week have not been positive.  There is fear of a double-dip recession with very little explanation of why that might happen.  Well, Dan Henninger of the Wall Street Journal has a theory.

Mr. Henninger suggests that some of the blame might fall on President Obama,  not only for his policies, but for his speech at George Washington University in April. 

Mr. Henninger's article points out:

"The day before that speech, all Washington expected Mr. Obama to make a major policy statement about the big deficit-reduction debate then unfolding. Agree or disagree, Paul Ryan's budget released the week before was all about policy. The Republicans were actually offering to take part-ownership of the economy by spending the year in dense discussions about the deficit and spending.

"Expectations raised, the president contributed nothing. Instead he dumped ridicule and derision on the Republican leadership seated before him. With that speech, Mr. Obama kicked off his 2012 presidential campaign, and in so doing politicized the economy."

Actions have consequences.  The article also cites some of the policies and regulations that the Obama Administration has put in place that strangle the private sector as the government sector grows exponentially, gobbling up the private sector along the way. 

Some of the consequences of politicizing the economy:

Congressman Jeff Landry released the following statement on Wednesday after he declined the President's invitation to the White House this morning:

""I have respectfully declined the President's invitation to the White House today. I don't intend to spend my morning being lectured to by a President whose failed policies have put our children and grandchildren in a huge burden of debt. Over the past two years, President Obama and congressional Democrats have overseen the largest budget deficits in U.S. history. On top of that, the President's budget adds $1.3 trillion to our national debt every year for the next ten years - a budget that failed to muster a single vote in the Senate. Until the President produces a responsible deficit reduction plan, I'm not going to the White House to negotiate with myself. Our conference has put out for months where we would start the process. The President has done nothing, just like he has for the people of the Gulf Coast. For months, the Louisiana delegation has sent the President numerous requests to meet with him or his chief of staff concerning the de facto moratorium issued in the Gulf of Mexico, a de facto moratorium that has driven gas prices up and now threatens to derail economic recovery; the President hasn't even had the courtesy to write us a note back. I refuse to partake in his political grandstanding that will ultimately do nothing for debt reduction and job creation.""

On Wednesday the Washington Examiner reported on the meeting between President Obama and the Republicans. 

One Republican commented:

""Unfortunately what we did not hear from the president is a specific plan of his to deal with the debt crisis," Rep. Jeb Hensarling, R-Texas, told reporters outside the White House. Twenty yards away, the full House Republican Conference was filing out of the 90-minute meeting and heading toward two buses that would take them back to Capitol Hill."

There were other comments made after the meeting.  Paul Ryan stated that he had asked the President to stop calling his plan to cut Medicare spending a 'voucher plan' because that was a misrepresentation of the plan.  Eric Canton pointed out the need to stop overregulating the private sector and allow businesses to grow.  The Republicans also restated their desire not to raise taxes but to cut spending to deal with the deficit.

It is very difficult to discuss serious financial matters when Washington has entered into campaign mode.  I hope some of our national leaders will grow up before the country goes bankrupt.

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This page contains a single entry by Granny G published on June 3, 2011 1:54 PM.

America's Reluctance To Use Its Own Energy was the previous entry in this blog.

Who Is That Pushing Granny Over The Cliff In Her Wheelchair ? is the next entry in this blog.

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