For several years now there has been an ongoing debate regarding the impetus for President Obama’s economic policies. Were they the work of the smartest president in history, a man so intelligent that his wisdom could supplant the collective experience and choices of 300 million Americans, and in so doing restore our economy? Were they the well-intentioned but errant contemplations on an Ivy League egghead with lots of “book learnin’”, but without a shred of private sector experience that is the proving grounds for such ideas, being exposed to the unmerciful judgment of markets?
At this point I have come to the conclusion that it is an intentional effort to replace America’s free-enterprise system with a democratic-socialist style, centrally-planned, government run economy. Look at the evidence…the massive stimulus package which failed spectacularly, the auto union bailouts, government employee bailouts, Cash for Clunkers, Son of Stimulus, and myriad other economic “remedies”. Combine this with calls for increased taxes of “the rich”, more regulation and more government intervention in the market, and we end up with a long-term stagnant economy. One can no longer chalk it up to pure stupidity. If it were pure stupidity then the law of probabilities would dictate that Obama would have made the right decisions, even if only by accident, somewhat approaching fifty percent of the time.