HAWAII, April 30, 2012 – President Barack Obama’s latest political ad, “Forward” attempts to cast his four years in office as a rolled up sleeve, dynamic presidency in which, having inherited a financial crisis from the Bush Administration, Obama saved America.
The ad cycles through a timeline of disasters starting with the financial crisis in 2008 and ramps up to show Obama opposed by the Tea Party and right wing radio hosts yet boldly pushing through edict after edict, ranging from TARP to Obamacare to the repeal of Don’t Ask, Don’t Tell and more.
Viewers are led to believe that Obama’s leadership was somehow responsible for the “recovery” of American business and the way of life and though much work remains, Obama is taking us forward.
The problem with this view is that, quite simply, it is a work of fiction.
In a mistaken analysis of the economy, President Obama and his supporters believed that the reason for our recession was that credit was in a pinch and that people weren’t buying enough, so they injected billions of dollars into the economy to boost aggregate demand (aka “stimulus”) and kept interest rates at the Federal Reserve low to get people to buy more. But instead of people buying more, the only thing these interventionist strategies accomplished was to get people spending more.
Obama, who cast himself as an anti-war candidate, came into office and waged the worst kind of undeclared war of all: a currency war against the dollar in an effort to debase our currency so far down relative to other world currencies based on a flawed economic theory that a weak USD means more exports and more profits.
The only thing the currency war accomplished was propping up shaky, insolvent corporations with a false image of value through inflated stock prices and CEO bonuses but it brought suffering to the average American who makes money by working, not speculating paper for a living.
While Obama is busy taking regular taxpayer financed vacations around the world, many Americans have to work two or even three jobs just to keep pace with the decline of their purchasing power and the increase of prices. Shamefully, Obama takes no responsibility for the side effects of his economic policies but instead chooses to assign blame to others.
Though it is clear Obama is not solely responsible for the decline of
“Forward” is the new backward for America under Obama.
This article is the copyrighted property of the writer and Communities @ WashingtonTimes.com. Written permission must be obtained before reprint in online or print media. REPRINTING TWTC CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.