“For two years we’ve listened to President Obama say that Republicans have no ideas to boost the economy as he pursued his reckless spending policies. Now he’s finally adopting some of the job-creating incentives for which I and other Republicans have been calling. Making the R&D tax credit permanent and letting businesses immediately write off capital expenditures will make a real difference for jobs and the economy. It’s unfortunate that it has taken the President so long to listen.“It would be a mistake, however, to attach another spending stimulus, paid for with higher taxes, to the ideas that will actually work. Keep the good, and drop the bad.”
Some bad news for the Obama administration, as it seems as if the concept of blaming George W. Bush for this failed economy is losing some traction among the people. The latest poll, in which a plurality of Americans, 48-47, now blame the current President for the ongoing bad economy, is a terrible blow to the President’s primary economic strategy of pointing the finger at George W. Bush, while spending our money. As has been the case often lately, independents are ahead of the national trend, declaring Obama responsible by a wider 52-44 margin. Is it any wonder that Congressional Democrats are distancing themselves from Obama in their midterm campaigns?
This poll shows the clear failure of the Democrat narrative of “recovery summer” and that the economy is on the rebound. The people are not listening to the hearsay of Obama, Biden, and John Kerry on this, but instead following the reports of stagnant 2.4% second quarter growth in the GDP, and continued unemployment over 10% in most states. The people are not listening to the administration narrative because they are feeling the effects of the Obama economy.
It was only a matter of time before the “Bush economy” became the “Obama economy” as well. Eighteen months of poor leadership has seen promises of recovery, and growth, and an unemployment rate of under 8%, and hope and change and everything that will get voters to the polls, and yet the economy is worse than when Obama’s scapegoat, George W. Bush left office. The administration has asked and taken billions of dollars from the American people, with the claim that we need a stimulus to bring this economy forward. Meanwhile they refuse to extend the Bush tax cuts to keep small business going through the rough times without punishing taxes from Washington.
That is after all, the saddest part of the story. Wait until January, when the tax cuts signed by George W. Bush, expire without a word from Barack Obama. Then you’ll see the true difference between the Bush economy, and the amateur hour leadership that we currently have in the White House.