Obama Administration Sets Out To Single Handedly Break What Is Left Of The American Economy

It is quite possible that the spending spree that president Obama is on will actually break the economic backbone of America. The guy has lost his marbles. This country is by no means out of this recession/depression that it has been in for some time now. As I write this, the unemployment rate is around 9% and is expected to get into the double digits very soon. Yet this guy wants to take more money from the few Americans that still have a little and give it away to people who can’t afford health insurance.
Wake up pal. Giving away health care isn’t going to lower the cost of it. It will make prices go higher than ever before. There has never ever ever ever ever ever ever been a scenario where government involvement in a free market economy has made that economy more efficient. It will not lower health care prices. It will make them skyrocket.

The way to lower healthcare prices is to introduce more competition into the industry. They can accomplish that by letting insurance companies compete across state lines. They can accomplish that by mandating every citizen to purchase their own health insurance. They cannot accomplish that by taking money from one part of the economy (people who can still afford it) and giving it to another part (people who can’t afford it).

The problem with this economy is that it is losing jobs. Create jobs and you will quickly solve most of the problems. Then you can worry about how best to get everyone in America insured. Regardless of what people might think, our Federal government does not have an endless supply of money. As a matter of fact they are already spending much more than they take in. The budget deficit is expected to reach upwards of 80% of GDP. That is freaking crazy!

Just as a person would get into trouble charging too much on their credit cards, so too will our federal government. When someone charges too much on their credit cards they either end up going bankrupt or else end up paying down the debt for a decade or more. During that decade, they have no extra money to spend on other important things. They are stuck making huge interest payments to lone shark banks. The government could easily end up in the same situation. For every dollar the US overspends, it puts that much more upward pressure on Treasury bill interest rates. Right now, those interest rates aren’t out of control. But, eventually when economies around the globe begin to recover, you can expect interest rates to go much higher on those T-Bills. We will have a much harder time getting countries like China to buy these low interest treasuries.

Obama needs to stop trying to spend more money that we as a nation simply don’t have on these dumb ass utopian programs of his. He needs to focus on putting those unemployed people back to work. People with jobs spend money. People with jobs might actually purchase the healthcare he wants to give them. That money gets spread around and lifts all boats. Focus on that.

If he really wanted to stimulate the economy, he would be working on projects that have a return on investment. He would be announcing initiatives to begin construction of fifty new nuclear power plants. He could fund the construction of one in each state. This would put people back to work and lower our dependence on fossil fuels. This would also lower the cost of energy in the nation as a whole which is good for manufacturing industries. If you don’t like the idea of building nuclear power plants then come up with something else. Whatever you do, make sure it creates some damn long term jobs. You better also make sure that it benefits our economy in some other way and not just hand out money for no benefit.

What happened to the five million new jobs this guy preached about creating during his presidential campaign? Where are they? Where are the plans to generate them? So far he has presided over the loss of more than that. Good job pal! Way to go buck-oh! Now, how about getting your head out of your ass and doing what you were elected to do, you fricken shmuck.

Tags: competition, energy independence, Obama, spending, Taxes, United States economic crisis

This entry was posted on Wednesday, July 22nd, 2009 at 7:55 pm and is filed under Ecomomy, Energy Policy, Healthcare. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.