Saturday, September 26, 2009

Aftermath of the G20

Obama is definitely the king of the photo-ops. But after the champagne bottles are hustled into the garbage bins, what is left from the G-20 conclave this week in Pittsburg? Nothing.

The American economy is mired in stagnation. Housing is at a dead end with nearly seven million unsold homes on the market. Home prices have stopped falling in most markets, but significant increases in new construction are nowhere in sight. Businesses have no interest in adding to their work force, especially with Obama's war on capitalism in full throttle.

The only thing really going up is the national debt and it is definitely roaring right along. Future deficit estimates are way, way understated for two reasons: 1) The Obama administration is vastly overestimating the future tax revenues that the economy will generate; and 2) The Obama administration is vastly underestimating the future cost of their ambitious agenda, some of which, no doubt, they will get passed in Congress.

So, after all the fun times with the international jet set and the adoring media, it is time for the US to face its rather bleak future. Obama is a classy guy, who would have made a great late night TV host. It's really a shame he didn't pursue that career.

The US needs a leader who understands that the economy is going nowhere and the national debt is out of control. Obama doesn't seem to understand what's really going on in the US. (Maybe he should go back to Harvard and take an Economics course or are we too late for that?).

1 comment:

Fmalik13 said...

Or maybe even UVA for that matter...