The Inflation President

As the world burns, the president is preparing to head to Rio to party in the sun. Exactly what has he done, of substance, to address any of the issues facing the world today? Does the president even talk to Congress anymore? After Obamacare it would seem that he cut the phone line to the Capitol and will only reflect on legislation that actually ends up on his desk to be signed. So what has the president accomplished during this seemingly worldwide moment of crisis? I believe most Americans would answer, “Why nothing, nothing at all.”

Clearly 2012 cannot come soon enough. In 2008, President Obama had the failure of President George Bush to run against,. In 2012, though, President Obama will have to run on his own record, which, if possible, is worse than that of President Bush.

It’s hard to see how Mr. Obama’a first term will be considered a winning hand. Other than Obamacare, his list of achievements is blank. And Obamacare was wholeheartedly rejected by the electorate in November 2010. Don’t imagine for a second that Americans won’t reject it again if the president attempts to make it part of his campaign platform. Just a single peep about Obamacare should get him booed off any stage in America.

Let’s be truthful, the president came to office completely unprepared. He has zero background, except neighborhood organizing with his ACORN buddies. That is a fact, not Dick Young’s opinion. Has any president in memory been less prepared or capable to lead the country?

Are you better off today than you were when the president was elected? It’s not as though you haven’t given the president the resources and time to be successful: trillions of dollars of stimulus, massive majorities in the House and Senate in his first two years, and a treasure chest of political capital that should have lasted through at least two terms. What has he done with these resources? Zilch.

Unemployment is perilously high. Inflation is accelerating, and gasoline is $4/gallon. Today the country is facing the greatest food price inflation since 1974. That’s no problem for the president or the Federal Reserve, who focuses on the “core” rate of inflation, which strips out food and fuel prices. Home prices are still included, However, since there is no credit available, Americans can’t take advantage of the low prices. Where do the Fed and the president think people need to spend their money? Food and fuel are at the top of the list, both of which are most affected by the purposeful weakening of the dollar. The weak dollar strategy seems to be the Fed’s and the president’s preferred vehicle to achieve economic growth. How’s that working out?