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Obama turned away from the economy, stupid

Posted by B. Daniel Blatt at 12:18 pm - December 21, 2011.
Filed under: Economy,Obama Arrogance

During his “60 MInutes” interview last week, the most humble new kind of politician to occupy the White House since George W. Bush compared his accomplishments to some of his predecessors:

As you said yourself, Steve, you know, I would put our legislative and foreign policy accomplishments in our first two years against any president — with the possible exceptions of Johnson, F.D.R., and Lincoln — just in terms of what we’ve gotten done in modern history. But, you know, but when it comes to the economy, we’ve got a lot more work to do. And we’re gonna keep on at it.

More work to do on the economy? Why, Mr. President, have you waited so long to address the sluggish economy?  In his insightful piece on the Democrat’s reelection prospects, Jay Cost observes how unlike FDR, the incumbent spent so little time in his first two years in office on the economy:

Obama turned his attention away from the economy far too quickly. This points to another difference between Obama and Roosevelt. FDR essentially threw everything at the Depression, including the kitchen sink; the legislating of 1933 and 1934 was relentlessly focused on the economy, and voters had no choice but to conclude that Roosevelt was, at the very least, doing everything he could think of. Not so with Obama. Having passed their stimulus, this president and his allies in Congress turned their attention to grander social welfare ambitions, something FDR did not begin to do until 1935, when the economy had already started growing at a robust rate.

Via Instapundit.  Emphasis added.  Interesting how quickly Obama, who won election largely because voters trusted him more to face the financial crisis and fix the economy, turned away after his “stimulus” (er, Recovery and Reinvestment Act passed).  It’s as if he believed that his economic team’s forecasts.

Seems Obama is just not interested in matters economic.  His “Jobs Bill” of 2011 shows little imagination, being basically a scaled-back version of the stimulus of 2009.

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2 Comments

  1. Obama has an economic plan : Let the economy tank for as long as possible. Then try and post “good” numbers just before the election. This is all about getting re-elected.

    Comment by TnnsNE1 — December 21, 2011 @ 2:21 pm - December 21, 2011

  2. The top 10%(the producers) need to organize a 1 month general strike where they sit home and shutter their businesses and productive enterprises to protect their property rights and restore sanity to this insane economy and too big to fail government.

    Comment by Richard Bell — December 21, 2011 @ 8:01 pm - December 21, 2011

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