Sunday, September 23, 2012

Propaganda from Bill Clinton and President Obama on the Economy

On Face the Nation this morning, former President Bill Clinton offered a strong defense for President Obama's re-election, arguing that no president could have "fully healed" the economy in four years.

In Milwaukee, President Obama said that advancing a top-down economic approach "never works."

"The country doesn't succeed when only the folks at the very top are doing well," he said. "We succeed when the middle class is doing well."

The fact of the matter is that the economy could have easily recovered in less than four years, if it wasn't for extended unemployment benefits that discouraged people from looking for jobs, bailouts of banksters which misdirected trillions of dollars, minimum wage laws which made it near impossible for unskilled youth to find jobs,  obamacare and other new government regulations and programs that made it difficult for businessmen to understand the true cost of a new hire, government measures taken to prevent the housing market to readjust and continued manipulation of the money supply in an especially erratic manner under the Fed chairmanship of Ben Bernanke.

Without these government interventions, the economy would have recovered in less than a year. Businessmen don't sit around in bad conditions for years. They would have adjusted their businesses to the new economic climate (or closed) and the economy would have been back on a much healthier growth track.

As for President Obama's comment on a "top-down" economic approach, he is framing the issue incorrectly. It is not about the government approaching the economy from a top down manner or from a bottom up manner. The question is do we have a centrally planned economy or a laissez faire economy. Central planning by definition results in limited vision of how an economy can progress, since, decisions are left up to the government. Not to mention the crony players who always surround central power. Laissez faire is about freedom and anyone attempting to serve the consumer in any fashion he so chooses--resulting in a thousand innovations blooming.

Clinton and Obama are simply out there spreading propaganda that the government needs to be part  of the economic picture, when it is part of the economic problem.


  1. Clinton was just on CNN minutes ago saying he's very optomistic on economic growth because the government is creating wealth...

  2. The thing that amazes me with Obama is that he can't see that his entire economic platform is built on the same premise as Romney's 47% comment. Its nothing but pure class warfare, where one class is made the villain and must be fixed/punished to fix the economy. Nothing more scares me than going down the destructive class warfare path as history has shown us it produces the most evil and deadly governments known to man.

  3. Obama and Romney will speak at the Clinton Global Initiative this week. Clinton will go on to headline the Concordia Kids Summit on extremism this Thursday. Iranian President Mahmoud Ahmadinejad will speak at the UN Wednesday. How extremist will Ahmadinejad look to the world? The Concordia Kids luck remains uneclipsed:

  4. I caught Obama on local TV, living near Milwaukee, and I know there is little difference between the two, but Obama's rhetoric is scary. A language of envy and hatred which elicited large applause. I know it is part of the farce we call democracy but still distressing.