Unemployment went up this week. The stock market plunged. Pundits pronounce themselves surprised. These are political developments as well as economic ones. But why? ARRA was supposed to fix the economy – weren’t there tons of “shovel-ready jobs” awaiting an infusion of government largesse?
Then, the 2010 elections happened and Dems lost their death-grip on Congress. Now, in this election cycle, it appears that even more limited-government politicians are going to be elected. But why?
It’s not surprising that key Democrats are praising venture capitalists, especially Bain Capital. We read a hit piece (which we won’t link to) on Cory Booker, who broke the ice in the dam of opposition to the administration’s policies and re-election strategy by criticising the negative tone of the campaign. Now, we can’t keep up with all the Democrats who have leaped into the opening Booker gave them.
But why hasn’t the economy improved? WE knew it wouldn’t, given the policies and ideology of the current adminstration, but we and other critics didn’t articulate it as well as we could have. We sounded like sore losers, whiners, etc. It didn’t help that whenever we criticised a plan like the Recovery Act (ARRA), that others called us racists. A non sequitur if there ever was one. Just reading the front page of the ARRA page will enrage you.
We always thought the ARRA billions, which trickled out quite slowly at the beginning of the period, were intended to crest this year, 2012, in the mistaken belief that govt money would cause an economic boom just in time to re-elect the current president.
But look at all the charts in the link to the ARRA above. Only a tiny fraction of the money is going to actual productive work – a few highways in this critical electoral area, a few bridge repairs in this friendly electoral area. This ideology opposes new highways. It opposes development of new sources of energy – any source of energy, except wind and sun, the LEAST economical of the many, many other sources.
It supports government control of productive portions of the economy – auto industry, for example. It supports government control of all medical care, in the face of massive and consistent popular majority opposition to such control.
Yet all the media can do is bleat about uncertainties in Europe and Asia, as if that is our problem. They absolutely refuse to recognize that socialism doesn’t work. Never has. Never will.