Obama's Non-Stimulating Acts

I keep my hair short for a reason: Makes it harder to pull out.

And what is to be made of the following:

- Wells Fargo has cancelled a management retreat to Las Vegas.
- General Motors has cancelled the purchase of a new corporate jet.
- Executives of companies receiving government aid will have executive compensation capped.
- AIG has cancelled most executive perks.

That the President feels compelled to meddle in the day-to-day operations of business is instructive of the way he works. Far from being “post-partisan”, his actions indicate that he is an old-school FDR liberal intent on extending the scope and authority of the Federal government into the nooks and crannies of everyday life.

Each of these items strong-armed by the President and listed above has reduced consumption, reduced jobs, reduced payroll: all by the individual who is, allegedly, trying to stimulate the economy. The actions of the President are very non-stimulating.

How may jobs are lost because GM didn’t buy the new aircraft? How many cooks, wait staff and others won’t pull a check because Wells Fargo backed out? We want people to buy things. We want people to spend money. We need to increase liquidity and that is accomplished by consumption - not by punishing those who consume. You see: actions have consequences.

On the plus side: Vetting of Cabinet nominees is off-setting some of the Stimulus package as rich Democrats are compelled to pay their income taxes. We should be appreciative of that.

Bottom line: The main-stream media was in love with Mr. Obama during the election cycle and never exposed him to the critical light of examination which other candidates faced. It is little wonder then that we have no idea how he’ll proceed in the current situation.