Comments on Obama and the economy

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It’s like having the job of driving the bus and fixing it when it breaks, and much of the election was about who can fix the broken bus and how they are going to do it.

This bus can be immediately fixed by anyone who knows how it actually works and what it needs to get rolling again.

We suffer from a lack of demand which is easily remedied by an immediate fiscal response.

Quantitative easing, for example, is at best like installing a second battery to give the car more power. It completely misses the point.

He didn’t just show up for the job-

He volunteered for the job insisting he could fix the economy.

He pushed the TARP (as a Senator and a candidate) not recognizing giving capital to banks was nothing more than regulator forbearance and instead believed it was deficit spending.

His stimulus package came after the automatic stabilizers hiked the deficit to muddle through levels and has proven far too small to keep millions from losing their jobs and their homes.

And now the talk has turned to deficit reduction after proclaiming on multiple occasions “the US government is out of money”

which is like moving forward with the engine at idle speed not understanding that his foot on the brake is keeping the bus from getting up to cruising speed.

Obama and his administration is in this way over their heads.

Unfortunately, the mainstream opposition is probably worse.

Risking overstatement, McCain’s proposal was to not have a bus driver.