Moving The Goalposts: Obama Says Economic Recovery Won’t Happen For “Many More Months”
Five months ago it was “the shovels are hitting the ground.” Now Obama is saying that we’ve got “many more months” of economic malaise ahead of us.
Why? Because as it turns out, huge deficit spending programs promising massive tax hikes in the future aren’t actually an economic stimulus.
President Barack Obama pointed to fresh evidence that the recession was winding down, but reminded the nation that full recovery will not happen overnight and will rather take many more months.
The country’s future economic prosperity depends on building a new, stronger foundation and recapturing the “spirit of innovation,” Obama said on Saturday.
The president cited Friday’s Commerce Department report showing that in the last few months the economy overall has done “measurably better than expected.” He credited his $787 billion economic stimulus program for much of that progress.
“Measurably better than expected.” Uh, no Mr. President. We’re actually doing far worse than expected per your economic teams own predictinos:
If we want the economy to rebound what Obama should do is announce the cancellation of the rest of the “stimulus” spending and an end to the various government bailout schemes. The resulting deficit reductions would bring investors back to the market both by easing the strain on our currency and by removing the fear of massive tax hikes in the future.
But that would mean that Obama would have to admit that everything he’s done in his administration to date, at least economically, has been wrong. And I doubt he’s an honest enough leader to do that.
