Obama Wants A “New Spirit Of Innovation” In The Economy, But How Does That Happen With Bailouts?

Proof • August 2, 2009

Obama said today that our economy needs a “new spirit of innovation.” That’s interesting coming from the man whose approach to economic rescue has been massive bailouts and government spending programs.
The old saying has it that “necessity is the mother of invention.” Well, it’s the mother of innovation too which is defined in the Meriam-Webster dictionary as “a new idea, method, or device.” Now what incentives are there in the market right now to innovate? To implement new ideas or methods or technology?
None, at least among the industries the government is trying the hardest to rescue. Because the government is removing the possibility of failure from those industries. And without the potential for fail, what possible incentive is there to innovate? Why go through the often painful process of finding something new when you can just keep doing things the old way while the government props you up?
The same goes for the bailed out lenders. Why should they stop their profligate ways when the government is standing by with massive transfusions of our tax dollars?
And, frankly, the same goes for all the local governments in the nation as well. Why should California or any of the other states facing nasty budget shortfalls fix the problems causing those shortfalls (spending, spending, spending!) when they can just turn to the federal government for a bailout?
When the government gets involved in anything it stifles innovation and invention. Why should a farmer find a more efficient way to farm when he can just apply for subsidies? Why should a car company find a more profitable way to make cars when the government can just bail them out? Why should a union moderate its contract demands when they can get the politicians in their pockets to enforce their demands with law? Why should someone on welfare and/or food stamps or otherwise stuck on the government dole go out and work to improve their lot in life when they can sit back and let the government keep their heads above water?
If Obama were truly interested in innovation he’d limit government not expand it.

Tags: Asshats, Domestic Issues, Politics

http://Array bill-tb

It may not be clear to everyone, but Barry, the man who has never done anything in his entire life except run for office, doesn’t know which end is up.

Barry is a communist how would he know what to do. But little by little other people’s free money to hand over to supporters is running out. Look at the fed data, the tax receipts are plummeting. The country is going Galt.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Sharp Rise in Federal Spending May Have Helped Ease Recession

When a bitterly divided Congress failed to pass an economic stimulus bill last fall, many predicted the recession would only worsen. But while few were paying attention, government spending surpassed the amounts envisioned in the stimulus measure, exceeding what even the most vociferous advocates wanted.

”You can reasonably argue that the recession, which seems to have ended, came to an end because of aggressive government spending,” said Mark M. Zandi, chief economist at Economy.com, a forecasting and data gathering firm.

Some of the stepped-up outlays, of course, went to the military and to pay for domestic actions to fight terrorism in response to the Sept. 11 attacks.

Significantly more, however, was delivered in the form of increased spending on highways, school construction, Medicaid, unemployment insurance and numerous municipal projects.

Sound familiar? It’s from 2002.
robert108

More than that, how does he expect any innovation to happen when he is prohibiting the taking of financial risk?
Putting private capital at risk for a profit is the only way to create economic growth.
http://www.rabidamerican.net/ Rabid American

r108,

This fool thinks it happens because HE says so….. the scariest part of all is that he believes it….

“Hopey O’Change” cannot help but tell more lies in an attempt to cover his ever growing failure.

In turn, Pelosi, Reid, Frank, Dodd, Schumer, Rangel, and Waxman, know this. They are using him for cover to push their Marxist/Socialist agenda further behind his lies.

They are all deciding who wins and who loses…
This will blow up in their faces soon, but WE will pay the price.

I think the day will soon come when we will see those very individuals throw “The Won” under the bus and run for cover…..

Note to President O…..
You are not the tribal Chieftain!
You are not YET the Tyrant you wish to be….
robert108

RA: While he will never say it publicly, Obama, like Karl Marx, doesn’t believe in economic growth. All his social and economic policies are based on his real belief in a “fixed pie” or “zero sum game”, when it comes to material goods and services. So, while he talks about “recovery”, he is just looking for stagnation, which is the distinguishing characteristic of leftie economics. Marxists depend on having another economy to plunder.
Obamanomics=pirate economics.
http://www.rabidamerican.net/ Rabid American

R108…. I must concur, no recovery is intended to come from this debacle.

This is stealth reparations wrapped in a Marxist coup…

The play-book?
Wreck the economy, villainize the successful, prevent energy production, spread lies to the willingly ignorant, and blame the predecessor for the mess……..

The health-Care “debate”, Cap&Trade;, “Green Energy”, etc, are all distractions for the believer flocks of sheep that follow this Usurper…..
robert108

RA: With lefties, always be aware of the manipulation of the language, in terms of redefinition of commonly-used terms.
For real Americans, “recovery” means a return to private sector growth from profits. For the lefties, “recovery” means a return to stagnation, with no growth and demonization of profits. In their propaganda, we need to “recover” from the economic growth of the Bush years, not from the recession caused by Dem social spending and market-rigging for social engineering schemes.

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Obama Wants A “New Spirit Of Innovation” In The Economy, But How Does That Happen With Bailouts?

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