Two weeks ago, I wondered if Obama’s Big Jobs Speech would be, like his other big speeches, full of sound and fury, specifying nothing. Yesterday, in a similar vein, Jim Geraghty quipped, “Wait, a ‘major speech’? I thought he promised a ‘very specific plan.’” That blogger was responding to an USA Today piece on the president’s claim that creating jobs was “our urgent mission.”
So, as the president prepares that speech, I’m wondering whom he’s consulting, representatives of left-of-center interest groups whose resources he needs to win re-election, political consultants who have poll-tested various ideas or economists who have theories of how markets work.
Perhaps, he would better to consult instead with economic historians, asking them to study each major economic downturn over the past century or so, perhaps going back to the Panic of 1893, and see how the respective presidents responded to those recessions — and to see how markets responded to those policies, whether the economy grew in response and whether or not jobs were created.
Instead of consulting economists who have put forward various theories of how markets works, he would to wise to seek out individuals who have studied what actually happened. But, methinks, alas, Mr. Obama is too dependent on various big government theories; he just believes they work. Seems he puts more stock in his theories than in the actual results of government policy.
FROM THE COMMENTS: John the Egyptian offers:
The liberal narrative always transcends reality. Liberals are to be judged upon their intents, their hopes, and their empathy; not on their results.