While President Obama’s speech has been roundly criticized by many for its many errors, distortions, and lies, it seem most people missed its most terrifying statement.
Most terrifying line
As published in an editorial in the Investor’s Business Daily (IBD) titled The Terrifying Line in Obama’s Speech That Everyone Missed, the worst statement of Obama was when he
promised that he’d pursue “the kind of bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one.”
The only problem is that the continual experimentation of FDR to blame for the length, depth and severity of the Great Depression.
Convinced that the government had to do something, FDR tinkered and experimented, figuring that if he didn’t get it right the first time … maybe he’d get it right the second time. But the very arbitrariness of FDR’s actions, made it impossible for businesses to make plans. And so, as FDR’s bold experiments increased, business activity decreased and markets froze.
From the point of view of a business it is annihilating to hear Washington uncertain, and that itself retards recovery because you really don’t know what to expect.
Other empty promises from Obama’s speech pointed out in the IBD article
- Obama said that “our path is harder” and “our road is longer.” Seriously? After four years of the worst economic recovery since the Depression, falling incomes, lower-paying jobs, increased hopelessness and exploding debt, all Obama has to offer is that he’ll make this nightmare last even longer?
- He told the public that they “elected me to tell you the truth” not to “tell you what you wanted to hear,” but then proceeded to hide inconvenient truths while filling the public’s ears with sweet nothings.
- For example, he pledged government help for everyone who could possibly want or need it, but managed to avoid any mention of the hard truth that the national debt just topped $16 trillion and entitlements are unsustainable.
- He said he’d spend money saved from ending the wars in Iraq and Afghanistan on roads, bridges and schools. Even the liberal press wasn’t buying this one. As the AP pointed out, Obama “laid claim to a peace dividend that doesn’t exist.”
- Obama promised to “take responsible steps” that would “keep the promise of Social Security.” But he failed to mention that the only options he’s left on the table are raising taxes or cutting benefits. That may not be what people want to hear, but it’s the absolute truth.
- He trotted out his supposed plan to cut deficits by $4 trillion over the next decade. But his actual plan — the budget he presented in February — would add $3.5 trillion in deficits, according to the Congressional Budget Office. And which received not one vote in Congress from either Republicans or Democrats.
- Obama said he’d create a million new manufacturing jobs, recruit another 100,000 math and science teachers, cut tuition growth in half, and reform the tax code. All by magic, apparently, since he’s provided no detailed plans on any of this.
My biggest problem with all these promises: if he really was capable of succeeding in any of the above promises, why has he not already done them?