Robert Stacy McCain
By Robert Stacy McCain
Hagerstown, Maryland, May 18, 2012 — They don’t teach economics at Harvard Law School. That’s the only explanation I’ve been able to offer for President Obama’s consistently wrongheaded policies for the past three-plus years.
Of course, we’ve never seen any of Obama’s transcripts, so we can only speculate what courses he took at Occidental College, Columbia University or Harvard Law.
Being therefore compelled to judge his familiarity with economics based entirely on his record and public rhetoric, we are reminded of Ronald Reagan’s famous quip: “The trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.”
Obama’s economic incompetence has made him a laughing stock.
Whether the result of ignorance or misinformation, Obama’s economic incompetence has made him a laughingstock. Yesterday, the Senate rejected his budget by a 99-0 vote. The joke might be funnier, were it not for the 23 million Americans who can’t find a job.
The pathetic blunder that is Obamanomics — record deficits,* an inflationary monetary policy and an alleged “recovery” that has scarcely dented persistently high unemployment — undermines our international prestige.
If the United States can’t get its fiscal house in order, what claim can President Obama make to world economic leadership?
America’s weakness in the Obama era was on display Friday
America’s weakness in the Obama era was on display Friday as leaders from seven nations arrive at Camp David for the G-8 Summit:
German Chancellor Angela Merkel, British Prime Minster David Cameron, Canadian Prime Minister Stephen Harper, Japanese Prime Minister Yoshihido Noda, Italian Prime Minister Mario Monti and France’s newly-elected president, Francois Hollande.
Russian President Vladimir Putin did not attend the summit, sending Prime Minister Dmitri Medvedev in his stead. Putin’s absence is widely viewed as a deliberate snub, evidence of worsening U.S.-Russian relations.
The economic crisis that threatens to engulf Europe will be the prime topic of discussion at the G-8, but there isn’t much the United States can do to help. . . .
* From Jan 20, 2009 until today, the United States government’s debt has grown by $5.1 trillion, from $10.626 trillion to $15.729 trillion. To look at the rapid growth of debt, visit this website: www.USDebtClock.org
