We're Not In Iowa Anymore

Dick Morris and Eileen McGann on the Barry-inspired spreading of panic:

… President Obama, in his pursuit of liberal big-government spending, has totally neglected the role of the president of the United States in reversing global panic. To the contrary, his every remark and the constant preoccupation of his Cabinet is to heighten the sense of crisis and to escalate the predictions of doom if we do not do as they tell us and raise spending now and taxes later.

Instead of being a firewall, reassuring Main Street even as Wall Street crashed, he has become a conduit of panic, spreading the mood of desperation from the stock exchange floor to kitchen tables across the world.

There are bad loans, which became bad assets, that lie at the root of the crisis. Through deregulation by the government and the greed of financial institutions, they spread to every portfolio in the world. But these basic facts have metastasized out of all proportion to their real harm into job and financial insecurity for every family on Earth. It is President Obama, not the markets themselves, who has spread this fear. A global Paul Revere, he has not only aroused us, but incited fear and trepidation in his wake.

… Obama has been instrumental in purveying fear and spreading doubt. It is his pronouncements, reinforced by the developments they kindle and catalyze, that are destroying good businesses, bankrupting responsible people and wiping out even conservative financial institutions. Every time he speaks, he sends the markets down and stocks crashing. He doesn’t seem to realize that the rest of the world takes its cue from him. He forgets that he stands at the epicenter of power, not on the fringes campaigning for office. This ain’t Iowa.

Why does Obama preach gloom and doom? Because he is so anxious to cram through every last spending bill, tax increase on the so-called rich, new government regulation and expansion of healthcare entitlement that he must preserve the atmosphere of crisis as a political necessity. Only by keeping us in a state of panic can he induce us to vote for trillion-dollar deficits and spending packages that send our national debt soaring.

And then there is the matter of blame. The deeper the mess goes — and the further down his rhetoric drives it — the more imperative it becomes to lay off the blame on George W. Bush. He must perpetually “discover” — to his shock — how deep the crisis that he inherited runs, stoking global fears in the process.

So, having inherited a recession, his words are creating a depression. He entered office amid a disaster, and he is transforming it into a catastrophe, all to pass every last bit of government spending and move us a bit further to the left before his political capital dwindles.

But the jig will be up soon. The crash of the stock market in the days since he took power (indeed, from the moment he won the election) can increasingly be attributed to his own failure to lead us in the right direction, his failed policies in addressing the recession and his own spreading of panic and fear. The market collapse makes it evident that it is Obama who is the problem, where he should, instead, be the solution.

I’m not so sure the “jig will be up soon,” not so long as Barry has an adoring media and the race card in his pocket.

Mark Steyn wrote recently that the only reason Europe can be Europe is that America is America; that is, Europe’s welfare states could not exist without the backing of American wealth and military power.

Claudia Rosett describes the brave new America Barry is trying to create:

If Obama turns America into Europe…

… Then who, or what, fills the resulting vacuum in world leadership?

Europe — sclerotic, bureaucratized and social-democratized – has for decades enjoyed the protection, inventions and security afforded by its more laissez-fair, strapping, and exuberant cousin across the Pond, the United States. America, with its free markets, its market incentives, and its relatively large private sector, has been the engine of global growth. America’s system, based fundamentally on individual risk and responsibility, has been the great incubator of innovations that have become the staples of the modern age — from medical advances, to computers, to the internet and beyond. Around the world, people have benefited in ways beyond measure.

All that energy poured into progress is likely to fade, as America devolves into a nation of carbon-capped civil servants, tending to a much-shrunken private sector, and a growing line of people on the dole. However high-flying President Obama’s rhetoric, he can’t re-engineer human nature. If you tax and subsidize Americans more, they will — like anyone else – produce and create less. In many realms, there will be fewer gains from trade. In the middle of every transaction will be the taxman, or the government regulator. For the dramatic reshaping on which Obama has embarked, the cost will be paid not only in taxes, but in a pervasive souring of climate (and I am not talking about hocus-pocus with the weather).

In short, where there was America the superpower – with its almost bottomless pockets and limitless drive — there will be a shabbier America, quite likely more self-absorbed. There will be a growing vacuum on the world scene. If, a generation into the post-Soviet New World Order, that shift is already underway, we can now expect it to accelerate. Since World War II, America’s capitalist system has allowed it to stand as a bulwark of democracy, provider of security and font of commerce and creativity for the world. Europe has had America at its back. There is no candidate right now to replace America in that role.

There are candidates of a somewhat different character, who may see this as a opportunity. There are despotisms, such as China, and resurgently aggressive Russia. There are the totalitarian Islamists of Iran, with their visions, shared by both rivals and collaborators within the Muslim world, of a global caliphate. There are blocs which can be glimpsed in miniature in the doings of the UN General Assembly, where some of the world’s more swaggering dictatorships enjoy pride of place. We do not know how these forces might play out as America transforms itself into Europe – but there’s a chilling likelihood that we will all pay for this, in ways not mentioned in the multi-trillion dollar spending plans now emanating from Washington.

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