April 3, 2009

Obama - taking credit.

I warned about this.  Don't let Obama take credit for change he did not affect.  So far, all that's really happened since the election in the economic downturn, is a lot of talk and a few TARP funds (which came from Bush/Paulson) got released.  But the market is turning up.  Recovery might be on the way.

Certainly that's what President Obama wants you to believe. We've turned a corner thanks to him.

LONDON (AP) - Concluding his first international summit, President Barack Obama hailed agreements at the emergency meeting of world powers Thursday as a "turning point in our pursuit of global economic recovery."

The new U.S. leader said the heads of industrial countries that met in London agreed on "unprecedented steps to restore growth and prevent a crisis like this from happening again."

But if the recovery has started, it has nothing to do with the efforts of Obama.  At most he can claim that he provided "hope".  So far, as far as the economy is concerned, he has provided imagery, not "change".  Yes, he's promised things.  Dangerous and economically hurtful things. But promises do not turn a world economy around.

No doubt he will get all the credit though, unless private citizens ensure they explain the truth to the believers that Obama is not a Magic Genie. 

1 comment:

  1. Obama Claus believers will not be persuaded, no matter how many of us take the truth to them.

    I'd be interested to see how Obama plays it when the $13T in obligations come due, the money we've printed (and the more money we'll undoubtedly print to pay those obligations) hits the system and starts producing hyperinflation, and we end up worse off than before. I'm sure he'll blame George Bush again, but an "inherited crisis" in another year or two will be a tough sell.


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