It seems President Barack Obama’s idea of economics is to talk again and again. This time Mr. Obama met with NATO Secretary General Anders Fogh Rasmussen. Mr. Obama is pitching a trio of economic proposals Wednesday in an effort to show the public he's taking action to spur economic growth (AP, 8 Sep 2010).
But just like the dozens of recent Obama in-actions, Obama fools no one but himself. The US Economy since the Democrats took over from the GOP in 2007 (under Bush) has only gone to the dump.
During a trip to Cleveland, the president will outline a $50 billion infrastructure investment, a permanent expansion of research and development tax credits for companies and new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011 Julie Pace - AP, 8 Sep 2010).
Again, Mr. Obama only seems to help big businesses. If Obama truly knew anything about economics he would realize that in the US, 65% of all the US Jobs are created by small businesses and not the big cats that he continues to help. But then Mr. Obama has too much payback to take care of first before his next run from the White House.
The administration hopes the proposals will increase business and consumer confidence, while also giving Democrats a boost in the November elections. But each proposal would require congressional approval, which is highly uncertain given Washington's partisan atmosphere (Julie Pace - AP, 8 Sep 2010).