After five months of extravagant and wasteful spending, unemployment creeps up, ever so steadily, to double digits. The best anyone can say, if they are truthful, about the economy is that it is not as bad as it could have been. Which, of course, is unknowable at best.
The point is that the Obama administration, in league with his handlers in the Congress, is groping about as to how to a) improve the economy, b) protect unions and other Democrat special interests, c) keep blaming George Bush and Republicans. Guess which of these is least important?
Yes, actual improvement in the economy. This will, of Democrat necessity, take a back seat to the ideological agenda of tax the “rich” and help the “poor.” Oh, and that promise Obama made to not raise taxes on “any family making less than $250,000?” Down the memory hole if it stands in the way of government control of the auto industry, banks, health care, you name it. Don’t forget cap and trade, a way of gaining further government control over any human endeavor that might add a molecule of carbon dioxide to the atmosphere.
There is now talk of a new porkulus bill, since, according to one of Obama’s Kool-Aid drinkers, one Laura Tyson, the original porkulus of almost $800 billion was “a bit too small.”
Meanwhile, what passes for good news is, according to the Wall Street Journal,
Initial claims for jobless benefits plunged 52,000 to a seasonally adjusted 565,000 in the week ended July 4, the Labor Department said in a weekly report Thursday. Economists surveyed by Dow Jones Newswires had expected claims to fall by only 4,000.
It is clear that throwing money at unions and other favored groups doesn’t work. The “stimulus” package didn’t stimulate, and can’t. Even its defenders acknowledge that its benefits are in the two-year or longer time horizon.
Nevermind. A nation that accepts over one-half million new unemployment claims a week as good news is not ready for the harsh medicine needed to have an actual recovery: stop wasteful spending, which is to say most of it; stop inventing new programs we can’t afford and don’t need (cap and trade comes to mind); dial back on the health-care nonsense, most of us (70+ percent) are just fine with the way things are, health-care wise.
Most of all, Democrats and their Republican enablers need to remember the iron-clad rule of holes: when you’re in one, and want to get out, stop digging.