Tuesday, March 03, 2009

The Blame Game

Obama blames Bush for the economy. The Wall Street Journal blames Obama:
Listening to Mr. Obama and his chief of staff, Rahm Emanuel, on the weekend, we couldn't help but wonder if they appreciate any of this. They seem preoccupied with going to the barricades against Republicans who wield little power, or picking a fight with Rush Limbaugh, as if this is the kind of economic leadership Americans want.

Perhaps they're reading the polls and figure they have two or three years before voters stop blaming Republicans and Mr. Bush for the economy. Even if that's right in the long run, in the meantime their assault on business and investors is delaying a recovery and ensuring that the expansion will be weaker than it should be when it finally does arrive.

The Obama administration has been decrying greed at every opportunity. And yet their policies seem to be counting on it. They seem to think that American business will continue pursuing taxable profits at all cost regardless of how high their taxes are or how difficult the business environment becomes.

All those "smart people" in his cabinet, and not a decent economist in the bunch. Or, if there are, they're simply figureheads to make it look like Obama is getting good advice, even if he's not taking it. More paranoid people suggest that he's purposely trying to destroy the economy and the free market system so that we will all become dependent on the government. I hope they're only paranoid.

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