Economist Morici: Obama Destroying Americans’ Faith in the Country
The GOP should return to be being the party of growth and optimism, says expert. “We need to stop obsessing about the fed and deficit and focus our attention to the most successful policies of past victories: defense spending, tax cuts and free market capitalism.” We have a liberalism problem, not a debt problem. With treasury yields at historic lows, the US. is paying less interest on its debt than ever before. Meanwhile, the U.S. dollar continues to rise above its peers, indicating continued demand for our currency. In much the same way the liberals deny American exceptionalism, the GOP must not go down that path by denying the exceptionalisn of our currency or our economy and spreading unnecessary fear about the debt. The national debt did indeed rise under Reagan, but Reaganomics was a resounding success. The deficit also grew under George W. Bush, whose tax cuts provided an economic tailwind as well as helped soften the blow of the 2008 banking problem, the war on terror and dept. of homeland security that has kept us safe, the appointment of Bernanke and Petraeus who both did a good job, and the bank bailout that quickly ended the banking problem.
Bush forged diplomatic and trade relations while at the same time taking a hard stand against terror, whereas Obama is making America look weak and our allies wary through his inaction and appeasement. Bush made a lot of decisions that were initially unpopular, such as the surge and bank bailouts, but in retrospect were overwhelmingly successful.
Foreign leaders know Obama is a feckless pushover as treat him as such, whereas Bush commanded respect, even if he wasn’t as ‘well-liked’. Not surprisingly, Putin was undeterred by Obama’s shrill threats of sanctions. Obama lied about Benghazi, calling it an act of terror instead of what it really was: terrorism by Islamic terrorists.
At just 41%, Obama’s approval rating is at record lows; no doubt, his recent little league traffic jam won’t help either and demonstrates what John Kerry learned the hard way during the 2004 election: if you’re uncool, pretending to be cool and relatable will only backfire. When Bush played golf, rode his bike, and joked, we the American people, could relate because not only was he an effective president, but he wasn’t trying to be someone he wasn’t. Obama, on the other hand, is too cerebral, too pedantic, and worst of all, a terrible president.
We predict within the next two years, a sudden surge in gas prices and oil an an large uptick in unemployment will put the final nail in the coffin for this administration and his successor. The stock market will rally hard in anticipation of major losses for the democrats, with the dow possibly eclipsing 20,000.
Instead of attacking the fed or spreading undue fear about the debt being too high, the GOP should pledge to lower taxes, champion pro-growth economic policy, and go after runaway entitlement spending and abuse of social programs, as evidenced by the swelling disability enrollment.