Off to See the Wizard?
Tonight, President Barack Obama will ride down Pennsylvania Avenue with his sinking approval ratings, to stand beside our most unpopular Congress ever, so he can give a speech about jobs (before the football game starts). Our prez is a good speaker, but I doubt this speech will do any more to soothe our economic stress than have past speeches.
Speeches don’t create wealth — or jobs.
But image can entice votes, and with the election year rapidly approaching, he needs to look like he has a plan.
Or at least a clue.
So, the White House back room boys have been busy re-packaging. News reports say the president will suggest spending $300 to $400 billion to stimulate the economy. But he won’t use the word “stimulus.” For some reason, that word rings hollow.
Rest-assured, his non-stimulus stimulus will be “revenue neutral.” In other words, the spending will happen now while the offsetting spending cuts (or tax increases) will happen . . . later.
Not every provision of whatever plan Obama orates will be a terrible idea, but the thrust of it — the notion that with proper central planning and fiddling by our wizard-in-chief the federal government can create prosperity — will be tragically mistaken.
We need a president who understands that Americans could pick themselves up, dust themselves off and get moving economically . . . if only Washington politicians would stop stage managing the whole show.
This is Common Sense. I’m Paul Jacob.