Posted by
Patrick Bohan on Sunday, July 12, 2009 11:41:29 AM
Biden – He is the gift that keeps on giving. This week Biden claimed the administration “misread the economy” before passing the stimulus plan. I interpret this to mean that the Obama administration did not pass a big enough stimulus package? This actual hard to believe since the current stimulus package, that has yet to work, had an 800 billion dollar price tag. If this is true, we may see yet another stimulus package. If this happens, it would probably surprise no since this administration wastes taxpayer money like no other in American history.
Barney Frank – He is writing legislation to lower the standards for federally run Freddie Mac and Fannie Mae to lower the lending standards for people that want to buy condos. This to me is simply amazing that politicians are too inept to learn their lessons from the previous meltdown. This is not just irresponsible, but outright stupidity.
Nuke Reduction – Under normal circumstances this would be an Obama highlight. However, with North Korea claiming it wants to Nuke the U.S. and al-Qaida trying to get nukes in Pakistan, it would probably be best to wait on a nuclear disarmament.
The Stimulus – Obama claims the stimulus has “done its job”. Really, that seems odd because unemployment continues to rise. Obama and the Democrats claimed the stimulus would create and save jobs. Now, the Democrats are possibly taking about a 2nd stimulus. They cannot be serious; after all, only 10% of the money from the first stimulus has been spent. If the stimulus has done its job, we are in big trouble. Not only has it not stopped unemployment, it will create inflation.
G8 – Nothing relevant came out of this meeting. Obama is boasting about a global warming agreement, but this is nothing more than a bunch of hand waving. If the goal is reduce greenhouse emissions the G8 will not succeed if China and India are not on board. Besides, we know curbing emissions is going to be too costly and it will bankrupt nations. As a side note, Obama once again apologized to the world, this time for its lack of work on climate change.
Iraq – Violence is up after the U.S. troops gave control to Iraq. It will be interesting to see if this trend continues and how it affects our troop reduction.
My Book: Is America Dying? (Barnes and Noble, Amazon.com)