The following is a statement from Nan Hayworth on the unveiling of President Obama’s new $50 billion stimulus package.
“Remain calm! All is well!”
When Chip Diller was famously trampled by the mob at the parade in the movie Animal House, he was yelling desperately in hopes of saving a Homecoming parade. And that was funny. But when the people supporting our Administration and Congress’s failed fiscal policy continually flail about in denial very much like Chip, as we’ve discussed on my Facebook page, it’s not funny anymore.
In December, 1799, President George Washington contracted a severe throat infection. His doctors–distinguished experts all–treated him with calomel, to induce vomiting, and bloodletting. When their patient’s condition deteriorated, they treated even more vigorously, giving more calomel and taking more blood in the hopes that this time they’d succeed.
George Washington died of dehydration, blood loss, and choking from the uncontrolled infection. His very well-meaning physicians had actually hastened his death.
Back in June we blogged about the Business Roundtable’s withering assessment of President Obama’s approach toward American businesses. Things haven’t improved.
To the contrary: resistance to the President’s economic agenda has been spreading throughout the business community, affecting even groups and leaders who supported both Candidate and President Obama. Runaway “stimulus” spending with no discernible results, a new health care bureaucracy that’s already adding to costs, and credit that’s harder to come by now due to financial “reform” have finally taken a toll on employers’ faith in the President. Now that he needs their support to buck up his economic cred ahead of the midterms, they’re balking.
The American people are in the midst of learning a painful economic lesson: federal spending doesn’t create jobs. The latest evidence came from the Department of Labor, which released its monthly jobs report last week. The outlook is bleaker than experts in and out of government expected, and the government’s meddling isn’t helping.