Monday, June 15, 2009

Way to Go Joe – Biden Acknowledges Stimulus Guessing Game

Vice President, Joe Biden - image:

From Time Magazine: Vice President Joe Biden, in a recent appearance on “Meet the Press”, put forth the notion that everyone involved in the stimulus “guessed wrong” (key quotes from Time follow):

"No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought -- and everyone else thought -- the unemployment rate would be."
"Everyone guessed wrong at the time the estimate was made about what the state of the economy was at the moment this was passed."
"The bottom line is that jobs are being created that would not have been there before."
"Can I claim credit that all of that's due to the recovery package? No. But it clearly has had an impact."

Therefore, based upon the Vice-Presidents take on the out-of-control government spending, it was a “guessing game”, based on a model of assumptions. Moreover, those who feel that Barack Obama and company are studiously moving the country to the left, may be in error, because, based on what Biden has to say, they are instead, floundering about, taking stabs at what they “think” might work. Herein lays the problem, although it is apparent that the President is to the left of center, with a Vice-President that is somewhat of a “loose cannon”, most view the man as competent, brilliant in fact – surrounded by brilliant people who will make good sound decisions in order to further American interests – so say the media, and those pundits that pontificate on certain cable networks. That said, what appears to be the case, and may more likely be a fact, blinded by a Progressive education that gave former President Jimmy Carter, sainthood status, no one in the administration bothered to research historical data, and therefore, the results of overspending, bailouts and stimulus – and the outcome are predictable.

Had anyone with an ounce of sense, gone back over what had happened in the past 40 years, with clarity of mind and lack of political rhetorical think – the situation America is now facing would have been a shade different – the nation needed deeper tax cuts, allowing banks, and auto-makers to fail, so that in the long-run, the healthier businesses (note: political ties to each and every one of those institutions that were given aid), would have risen – the others would have become “history”, and the nation would have recovered rapidly – specifically the private sector. It is a proven economic model, while the current model is proven as well, to be somewhat disastrous, economically.

Rushing forth in panic, driven by political ideology with no sane historical references, is what has happened to our country – according to Joe Biden. Ironic is it not? Historically, those that rush blindly into situations of an economical nature (See Carter, “inheriting” a fiscal disaster from his predecessor and the response which caused the coinage of a new term “Misery Index”), serve one –term in office. Therefore, those who are caught in the middle of this – the unemployed, those who are sick at heart at what has happened to our nation in such a short period of time – should take heart – in a mere three years the polls will once again be open, and someone, man or woman, will step forth, offering advice of an historical nature, that will of course, sound very good to those masses who are beaten down by high inflation, out of control taxation from federal and state administrations, and the result will be – predictable. Although one cannot look for another “Reagan”, as that would be counter-productive, one can bet the house that a new conservative (notice no mention of Party Politic) one who is fiscally grounded, will lead the nation forward in 2012. For those who feel they should have looked harder at Clinton instead of blindly following the “American Idol” of presidential candidates, keep in mind, packaging is what it is, packaging - the more attractive the package, the harder one must dig to find out what that “package’ actually has accomplished – and then, take a look at the other package – the one that may have some “baggage”, but has a clear record. Simple lock step, slogans, should not shape a campaign, unless of course, there is more than rhetoric to substantiate the slogan. Therefore, the privilege of going to the polls to vote and hire a new administrator for the country (which is what the President’s function is – a CEO so to speak), requires some dedicated research on the part of those who actually wield a vote.

In retrospect, therefore, the blame should not be placed on the shoulders of Barack Obama, as President, he is doing what he can, in order to move the nation forward – the blame should rest with those who put forth a candidate of limited experience, undermined a candidate who had the right experience (Clinton), and packaged this candidate so well, that the nation surely would “purchase the goods” so to speak, and then, the blame also lies with those who voted blindly, on rhetoric or on endorsements. Case in point: a family member who, one would think, given gender and age as a factor, would have naturally supported Hillary Clinton (while this blog clearly supported Mike Huckabee, another moderate – but conservative with a proven governing record), however, true shock and awe were in store, when this dear person said when queried who she would support: “Obama (breathlessly) – Caroline Kennedy endorsed him!”. Now, a short six months later, buyer’s remorse, and the inability to look the family conservative in the eye, has set in. Therefore, a lesson of sorts to conservatives everywhere, regardless of Party (yes there are conservative democrats), be kind to those who were blinded by packaging and endorsements and offer to help make more educated choices in future elections. Additionally, send a note of thanks to Vice President Biden; he is truly the gift that keeps on giving.


Chuck said...

"No one realized how bad the economy was.

This is the key. This was predictable from last summer. I said then that this will be their excuse for breaking any promise they wanted to.

Tina Hemond said...

Hi Chuck, exactly predictable, all of it - and Carter was the prime example - all along.

Ralph Short said...

Of course, Senator Durbin was able to sell off his equity positions after being briefed by the fed chairman and the treasury secretary. I suspect he had more detail furnished than your typical broker or what the public received from either of the two gentlemen.

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