Obama: Circling Back on the Iceberg?

The title of this post isn't mine- Ralph R. Reiland came up with it in his post which I will talk about. But it's a great title- in my mind, I see the American economy hitting an iceberg around 2007 and start taking on some water, enough that it badly listed by 2008 and went into a recession. The iceberg was too much federal spending that soaked up savings and investments, too many federal government policies that encouraged bubbles in investing and housing, and increasing regulations that choked off economic growth, especially in small businesses, and signaled to business owners that now was the time to play it safe and not take risks and create jobs. The tip of this iceberg of federal policy ripped a large hole in the Titanic of the US economy, and soon the boat started to dangerously take on water.

Although I'm no expert of this, I imagine that once your boat hits an iceberg and takes on water, you have two options. Option one is to continue moving forward and patch the hole- in other words, keep America's booming private economy and remove the harmful regulations and policies that caused the damage. Option two is to stop moving and widen the hole, by which I mean to attack private business and those who are successful in it and put in place more harmful policies. Oh, I guess there was a double-secret third option too, and that is to turn the boat around and try to ram the boat on the iceberg again, this time with the intent on sinking the whole thing. For a while, I thought that Obama and the Democrats were just intent on going with option 2, but it looks like they are honestly considering circling back on that iceberg with the goal of sinking the economy of the United States for good.

President Barack Obama was once named by me as Captain of the US Titanic Spending (see my complete list of Obama nicknames)- and now he's going after that iceberg again!

Here are some parts of the article by Reiland called Obama: Circling back to the iceberg:

Only 26 percent of the public approve of President Barack Obama's handling of the economy in the latest Gallup poll, conducted Aug. 11-14, while a whopping 71 percent disapprove. That's down from Obama's previous low point of 35 percent approval on this top issue.

The public's growing dissatisfaction shouldn't be surprising. Going back to 1890, reports the National Bureau of Economic Research, the only U.S. president with a worse record than Obama in job creation in his first two-and-a-half years in office, measured in terms of percentage change, was Herbert Hoover, presiding over the emergence of the Great Depression.

"Official unemployment is 9.1 percent," stated a New York Times editorial on Aug. 15, decrying the nation's jobs picture, "but it would be 16.1 percent, or 25.1 million people, if it included those who can only find part-time jobs and those who have given up looking for work." "Keeping the economy going and making sure jobs are available is the first thing I think about when I wake up in the morning," Obama said back in March. "It's the last thing I think about when I go to bed each night."

Now, nearly six months later, the White House reports that Obama is working on a new strategy for job creation that will be unveiled after he returns from vacation. The task of coming up with a jobs plan that works shouldn't be all that terribly difficult. All Mr. Obama has to do is reverse what he's done and change what he thinks.

First, by the government's own numbers, small businesses have created 64 percent of the net new jobs in the U.S. economy over the past 15 years.

In fact, that understates the role of small business, since the vast majority of America's medium-sized and large businesses began as small businesses. The Heinz corporation began when 16-year-old Henry Heinz grated piles of horseradish at home, using his mother's recipe, and sold the bottled product door-to-door in Sharpsburg out of a wheelbarrow.

Yet since Obama took office, employment at federal regulatory agencies has jumped 13 percent while private-sector jobs shrank by 5.6 percent. Second, 39 percent of small-business owners said in a Chamber of Commerce survey in July that ObamaCare was either their greatest or second-greatest obstacle to new hiring....

...Additionally, 84 percent of small business owners in the survey said the economy is on the wrong track, 79 percent view the current regulatory environment as unreasonable, and 79 percent believe Washington should get out of the way of small business, rather than offering a helping hand (14 percent).

In its first 26 months, reports The Heritage Foundation, the Obama administration imposed new regulatory rules that will cost the private sector $40 billion. In July alone, reports Sen. John Barrasso, R-Wyo., federal regulators imposed a total of 379 new rules that will add some $9.5 billion in new costs.

Bottom line: What's required from Obama is a complete about-face, the shelving of his flawed economic philosophy and a reversal of his counterproductive policy prescriptions.

For those who want to see which way the United States is going under President Obama and his progressive policies supported by the new progressive Democratic Party, watch this movie- Titanic (10th Anniversary Edition).