It doesn’t seem that the president has learned anything from the failure of his near-billion dollar stimulus or from this past fall’s elections. He remains clueless both about job creation and the national mood. According to the Wall Street Journal, trillion-dollar deficits notwithstanding, the Democrat is pushing new spending in his State of the Union address:
Mr. Obama will argue that the U.S., even while trying to reduce its budget deficit, must make targeted investments to foster job growth and boost U.S. competitiveness in the world economy. The new spending could include initiatives aimed at building the renewable-energy sector—which received billions of dollars in stimulus funding—and rebuilding roads to improve transportation, people familiar with the matter said. Money to restructure the No Child Left Behind law’s testing mandates and institute more competitive grants also could be included.
Poll shows the American people favor spending cuts.
Interesting that the president appears to believe that he needs make “targeted investments” (Democratic-speak for increasing government spending) “to foster job growth.” Guess he’s forgotten that the “targeted investments” of his stimulus failed to keep the unemployment rate under 8% as his economic advisors forecast.
He seemed to have it right last week when he issued an executive order “making economic growth a required criteria for federal rule-making.” That regulatory review will do make to foster job creation than any government spending.
So, I suggest Congress reject the increased spending while the executive branch focus on the regulatory review. And while they’re at it, perhaps Congress can repeal a number of laws empowering unelected bureaucrats to set rules governing the activities of the entrepreneurial sector, you know those private enterprises generating the most new jobs.
UPDATE: Glenn Reynolds quips, “I’M PRETTY SURE THAT ‘TARGETED INVESTMENTS’ TRANSLATES AS ‘more taxpayer money diverted to my cronies.’ I don’t think that’s what this country needs, or wants. It’s probably what Obama will offer at the State of the Union, though.”