Saturday, October 10, 2015

Jack Lew is Clueless

Thursday, speaking in Lima, Peru, US Treasury Secretary Jack Lew said:  "When you look around the world, the question is the still the same.  Policy makers have the capacity to help boost growth, but it's a test for all our political systems to determine we have the political will." 

How could you disagree with that?

The US, for example, has spent the last decade enacting endless suffocating regulations that have effectively prevented a strong economic recovery from the 2008 financial collapse.  These regulations and arbitrary government actions, mostly executive actions by the Obama Administration, now prevent any return to economic growth for the US.  The Obama's Administration certainly has the political will to kill off economic growth.  But, can growth be revived?

So, what is Lew's prescription for the US?  More government spending, restoring the funding for the Export-Import Bank and other goodies for special interest friends of the Obama Administration.  Is he kidding?

For Lew, economic growth means taking taxpayer money and giving it to people he likes.  That about sums it up.  So, he decries the fact that a freely elected Congress won't get on board with give-aways to his buddies.

This tells you a lot about our future as long as Lew and other Obama acolytes remain in power.  It's all about lining their personal pockets and giving the back of the their hand to the average American.

Now, Lew wishes that other countries will adopt similar policies to reward friends of his in their countries.  The Eurozone already has such policies in place, so Lew is obviously hoping to tap down the economic growth in Asia and the other few pockets of economic strength in the world.

Misery likes company.

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