As previously pointed out, there were a number of questions UNASKED at Obama’s first press conference. Let me remind you, the reporters were pre-selected and notified that they would be called upon for questions.
I now give you question two, as posed by Larry Elder, for your careful consideration.
(2) Mr. President, this is a two-part question. In your opening statement, you called today’s economic situation “the most profound economic emergency since the Great Depression” and later “the worst economic crisis since the Great Depression.” But in the 1981-82 recession, unemployment reached 10.8 percent in 1982 versus 7.6 today. Reagan inherited an annual inflation rate of 13.5 percent, while you, sir, came in with a 0.1 percent inflation rate. Prime interest rates reached 21.5 percent at the end of 1980, compared with 3.25 percent at the end of 2008. Reagan did not ask for a “rescue” or “bailout” package. He cut taxes and slowed the rate of domestic spending. Unemployment, inflation and interest rates went down. The Treasury collected more revenue than ever. First, how then — at least so far — is this the greatest economic crisis since the Great Depression? And second, given Reagan’s success, why not cut taxes, reduce domestic spending, and leave taxpayers and consumers with more money to save, spend and invest?
At this writing, the “Economic SPENDulus” is already awaiting Obama’s signature. Here are two things I would like you to think about:
1. If it was truly so important this pass quickly, why did a) Obama go to Chicago for some ‘family time’ over the weekend? I mean, after all, weren’t the American people told this was a crisis of mass proportion. We could have gone broke as a country while Nero, I, er, mean Barack, fiddled around in Chicago!! Why is he waiting until Tuesday to sign it into law? Is Denver a better photo op? Does one more day of stress make him that much of a savior?
2. Is anyone else wondering what the printing of this trillion dollars is going to do to our dollars already in our pockets, our savings and our bank accounts? Seems to me the last time the government printed bills with nothing to back it, we suffered mass inflation!!
How’s that change going for you? Me? Not thinking it’s so good so far – and I’m not thinking it’s any change either.
I’m just saying…