This week, President Obama inaugurated the latest leg of his never ending campaign to convince low-information voters that someone else besides him has been president for the better part of the last five years. In his opening salvo, which was characterized by the White House as an economic speech, Mr. Obama talked about his favorite manufactured boogey man, inequality. This speech was about income inequality, which the President and others who believe as he does, think can be solved by taking more money from people who have earned it and giving it to those who have not, with of course, a layover in Washington just long enough for some of those dollars to get stuck in the pockets of Democrat politicians.
Barack Obama has been President for almost five years, and by this point in the Ronald Regan presidency (who students of history will remember took the reigns of power from Jimmy Carter under much worse economic conditions than Barack Obama found when he sat in the Oval Office for the first time) the Reagan economic policies had allowed the private sector to create ten million new jobs and Gross Domestic Product grew at an average rate of over five percent. By contrast, the Obama economy has produced an employment market where nine million fewer people are working than when Barack Obama took the oath of office, and Gross Domestic Product has not even averaged two percent. The number of people on food stamps has doubled, health care costs have risen forty percent or more just in the last three years since ObamaCare was rammed through Congress, fuel costs have doubled and unemployment is essentially the same as it was when Mr. Obama became President in January of 2009.
President Obama made some glaringly false statements about income stagnation in the middle-class while one percenters have enjoyed forty percent growth in their incomes. Using the top ten percent as a comparison instead of the top one percent, would produce a result that shows income growth is fairly equal between the middle-class and the wealthy. Also, the factors that lead to income growth are all things that Conservatives have championed for years, i.e., stable, intact families created by strong traditional marriages, high graduation rates, low tax rates and wealth creation spurred by economic freedom produced by limited government. There can be no income upward mobility without wealth creation. A healthy and thriving free economy, by its very nature, is going to produce income inequality. An economy that features income equality also produces no wealth creation, innovation or overall economic growth. Income equality economies are best represented by those one would find in Cuba, North Korea and others presided over by tyrannical regimes.
President Obama's latest effort to focus on jobs and economic growth, after having been President for almost five years, is not only disingenuous but absolutely buffoonish. Even his sycophants in the media are chiding this lame attempt to convince the American people that he is a Washington outsider instead of the guy who holds the most powerful office in the country. The current economic malaise in which we find ourselves is a direct result of the Obama policies, period. No amount of economic fire and brimstone speeches by Barack Obama are going to change that fact or convince a majority of Americans that somehow the wealthy in this country are responsible for the results of bad economic policies from the President. It is time for Brother Barack's traveling salvation show to fold up its tent, load the tired and worn piano on the flatbed, collect the hymnals of blame and go sell his snake oil somewhere else.