Blaming Bush no longer works. Obama indeed inherited a bad economy, drowning under a large debt and deficit. His solution?
Tossing it an anvil.
Obama did not inherit the $800 billion-plus "stimulus" plan or various subsequent ones.
Obama did not inherit a "sweeping" financial regulation of Wall Street that leaves in place Freddie Mac, Fannie Mae and the Community Reinvestment Act, the primary drivers of the housing meltdown.
Obama did not inherit government takeovers of the automotive companies.
Obama did not inherit a massive "green jobs" initiative, in which government bureaucrats will "invest" taxpayer money in "promising" technologies proposed by companies that failed to persuade private investors to bet on them. Only a leftist can condemn "corporate greed" on the one hand and, with the other, throw billions in corporate welfare dollars to the same corporations for "renewable energy" to make "green jobs."
Obama did not inherit ObamaCare, a monstrosity that even he no longer claims will "bend the cost curve." Using his Democratic veto-proof Senate supermajority, along with a parliamentary maneuver used in an unprecedented manner, he rammed through ObamaCare. It adds 30 million Americans to the ranks of the insured, including people who made the conscious decision not to carry insurance. He ignored obvious measures to improve accessibility and affordability, like knocking down restrictions that prevent health insurers from offering policies across state lines.
Thursday, October 07, 2010
On Things Obama Didn't Inherit
Larry Elder looks back and ahead, post November 2, '10, in the age of Obama. This part stood out. From uexpress:
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