President Obama’s supposedly rosy view of the economy is designed to justify further intrusion into the economy. And the measures he seeks are eerily reminiscent of Hoover’s favored policies. Cap and trade, Obama’s environmentalist plan, nearly started a trade war when it was merely introduced in Congress. Like Hoover, Obama opposes a carbon tariff that would level the playing field for American businesses disadvantaged by cap and trade — and like Hoover, he has made no suggestion that he would veto cap and trade were it to include such a provision.
Obama clearly favors more spending — in all of his talk about bringing down the deficit, he has never embraced wide-ranging cuts in federal expenditures. Rather, he attempts to blame President Bush for spending that created deficits, despite the fact that in Obama’s first two years, he will have raised the national debt more than President Bush did in all eight years of his presidency.
Obama has focused, as Hoover did, on raising taxes. This week, Obama warned Republicans that he would “call them on their bluff” with regard to deficits. By that, he meant that he would push Republicans to raise taxes in order to prove their dedication to a balanced budget.
Obama justifies all of this, as Hoover did, with empty bravado about the strength of the U.S. economy. The difference between Obama and Hoover is that Obama knows that the economy remains weak. Hoover wasn’t an ideologue; he was ignorant. Obama has Hoover’s example to examine — and he’s willfully imitating it for redistributionist ideological reasons.
We’re entering the Second Great Depression. Unlike the first one, our current administration is pushing America knowingly into the pit, all the while singing, “Happy Days Are Here Again.”
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