John C. Doolittle: Obama's radicalism

Advertisement

Obama's radicalism is killing the country.

Tough words. This is the paraphrased title of a recent editorial by Michael Boskin. Boskin is a professor of economics at Stanford, senior fellow at the Hoover Institution and ex-chairman of the President's Council of Economic Advisors. Hardly a lightweight. Whether one agrees with Boskin's analysis or not, we now are beginning to see what an Obama administration will look like.

In a national interview last Friday, President Obama stated that "he had enough to do without having to worry about the financial system." Really! Short of war, there is nothing more important right now than the financial system (think economy), and Obama has no time for it? So he's willing to let the economy continue to fall to some unknown lower level?

Last week, Gordon Brown, prime minister of Britain, was a guest of the president. There was no state dinner. There was nothing but cheap, unmeaningful gifts to the prime minister and his wife. Afterwards, it was pointed out that Obama was too tired to have a state dinner. However, a senior spokesman for the State Department pointed out that Britain and the U.S. did not have a special relationship any different than any other country, and thus the prime minister did not deserve a state dinner. So, our new foreign policy is to insult out staunchest ally. One can hardly wait until Israel and Iran show up at the White House.

Obama campaigned on the promise that he would go over government expenditures line by line to remove any "earmarks" or unnecessary expenditures (think pork). Now we find out that in the recently passed stimulus bill to create jobs, some 15 percent of the jobs (300,000) will go to illegal immigrants. These are jobs primarily in the construction industry, and many of those will be in California. It was not Americans understanding that we were going to spend our hard-earned tax dollars to create jobs for the rest of the world. Although nobody had time to read the stimulus bill, this was not an oversight. This is the new Obama policy.

There is more buyers' remorse coming. Unfortunately, the economy will continue to fall until this administration stops spending its limited time on noncritical issues. Even as it is, it will take at least five years for the banking system's net capital to be replaced. The economy will not recover until banking and housing start to recover. We are nowhere near that happening. Until then, real estate agents, construction and manufacturing workers, waiters, cooks and others should prepare to hunker down. Don't plan on retiring anytime soon or think you can sell your house for what you paid for it. We are all in for a rough two to three years or more, and before this is over, we all will understand that a financial crisis is the worse time to change the foundations of American capitalism.

John C. Doolittle

Steamboat Springs

Comments

Steve Lewis 5 years, 3 months ago

I will expect future complaints of Obama will find stronger foundation than a missing "state dinner" for Gordon Brown, or an Obama "quote" so obviously contradicted by Obama's well coverered attention to our financial sector and the economy overall.

"Hunker down for a long haul" advice such as John's has been the mainstay of economists since last October. Two administrations have the stain of this mess on their hands, not one.

Republicans need to present better, more useful commentary and solutions. "The sky is falling" is not a winning platform. Solutions please...

0

1999 5 years, 3 months ago

yeah...he's just ignoring the economy.

laughable

0

playa46 5 years, 3 months ago

So what would you do, John? If you look at history, things don't change overnight. He has ben in office for only about three months, and your already asking for a miracle? People like you need to rethink about what will happen to this economy. We are in a recession, not a depression, idiot.

0

BoatNative 5 years, 3 months ago

This sounds like a transcript from some show on FOX News. Get some new ideas Repubs.

Simply complaining about the problem while bringing no substantive solutions to the debate is the reason why you are in such a minority in Washington.

0

Murray Tucker 5 years, 3 months ago

You state: In a national interview last Friday, President Obama stated that "he had enough to do without having to worry about the financial system."

I think he said "stock market," not financial system.

0

seeuski 5 years, 3 months ago

http://washingtontimes.com/news/2009/mar/30/aig-chiefs-pressed-to-donate-to-dodd/

News like this is mostly ignored by the drive-by media. You can make your own conclusions why AIG is called too big to fail. I say fire Congress. They gave this group 180$billion$ of our money.

0

seeuski 5 years, 3 months ago

New ideas. STOP SPENDING TAXPAYER MONEY ON BAILOUTS!!! that go to those that caused this problem. Isn't it interesting to see that Sen. Chris Dodd has been outed for his financial ties to AIG. Dodd, head of the Senate Banking Commission. Dodd, who said that Fannie/Freddie was financially sound before we bailed them out. Let GM fail and be bought out by a viable entity that will cut the ties between the Unions and Congress allowing them to compete with the Japanese on an even basis. Let AIG fail and have other companies take up the slack who have no collusion with Congressmen. Stop the wasteful spending programs that Obama prommissed he would not sign during his campaign for Pres but has increased instead. Run from the new proposals that the UN want to impose on the US that would be nothing more than a transfer of wealth from here to everywhere. Those of you that blamed Bush for overspending are now oh so silent. Piling up record levels of debt for bad spending bills will NOT turn the economy around. We need a Congress that will tighten the spending belt and lower taxes so that we the people can flourish again. The supposed tax cut for 95% of us is gone. I don't know anyone who has benefitted from those promisses, no, just our money going to the fat cats.

Just some ideas. If someone wants to challange what I said please offer some support for what the Obama Administration is spending our money on. Not just more of the same Bush/Fox news bashing nonsense.

Oh, and maybe the liberal media will attack Joe Bidens cocain snorting daughter with the same vigor as they attacked Sarah Palins 15 YEAR OLD. NOT!! Thank goodness for Fox news. Thats right the only way we can here all the news is via Fox or online.

0

Fred Duckels 5 years, 3 months ago

I think that O went on Leno as an insurance policy for SNL not featuring him. Eight years of Bush, and no poking fun at O? Don't tell me that last press conference lacked humor potential.

0

Requires free registration

Posting comments requires a free account and verification.