Op-Ed at The Washington Examiner:
It’s no coincidence that Christina Romer, chairwoman of the White House Council of Economic Advisers, announced her retirement the day before Friday’s brutal unemployment report. With 131,000 more jobs lost in July, and downward revisions of 97,000 for the previous two months, it’s easy to see why she would start looking for the exits.
Romer is best known for drafting the February 2009 report “The Job Impact of the American Recovery and Reinvestment Plan,” which the White House used as an ammunition belt in the fight to gain passage of its $862 billion economic stimulus bill (the actual cost of which exceeds $1 trillion when interest is included). Romer predicted that following passage of the stimulus bill, unemployment would plateau below 8 percent last fall and by this month register at 7 percent. That’s not close enough for government work, as unemployment stands at 9.5 percent today. It would be higher except that hundreds of thousands of frustrated job seekers have given up looking for new jobs and dropped out of the labor force.
Predictably, the stimulus bill has proven to be an extraordinary waste of borrowed money that has failed to create jobs, generate economic growth or do much of anything other than line the pockets of White House political allies. That and give $308 million in subsidies to BP before the Gulf oil spill disaster, and subsidize a study on what happens when monkeys snort coke.
I can’t for the life of me understand how anyone in this country can be buying the lies being fed us by this administration and their willing accomplices in the media.
Rather than subsidize a bunch of cocaine snorting monkees, we ought to be studying the kool-aid drinking dolts that continuing to find The One credible. And they’re out there.
I have visceral reactions now to those who still display their Obama love, whether it be on their bumpers or their t-shirts. Visceral. I want to grab them by the shoulders and shake some sense into them. Their loyalty to Obama is simply frightening.
I’d like to think that it’s all about IQ and that only the dumb are buying into Obamanomics but we know that’s not the case, we all know bright people who nod their heads in approval to whatever it is that Obama might be saying.
Which then gives logical credence to this notion that what is happening to us economically is by design and that there are those who want to see America knocked on its keister.
In November, America knocks back.