I blogged last week about Obama’s joke of a “jobs summit,” outlining what the all-too-predictable results will be:
more government spending, more central planning, more government redistribution, concessions to big labor and other special interests, and less freedom.
I wasn’t exactly going out on a limb with such prognostications, but today’s N&O headline pretty much says it all:
Obama: Spend more, create jobs
As outlined in the article, Obama’s plan essentially follows suit to what was predicted. So the “jobs summit” turns out to be a non-event, merely promoting more of the same. But the article did include one whopper of a quote:
“Even as we have had to spend our way out of this recession in the near term, we have begun to make the hard choices necessary to get our country on a more stable fiscal footing in the long run,” he (Obama) said.
“Stable fiscal footing”? Is he serious?
He must have missed the memo that the U.S. government’s ‘fiscal footing’ is so porous that its credit rating is in threat of being downgraded, and never mind the more than $100 trillion in unfunded liabilities the nation is facing for social security and medicare.
It is simply not possible for a nation to spend its way to prosperity.