Obama's Team Misreads Economy
July 5, 2009 by Steven Ting
Filed under Economy , General , Politics
Many people wonder why Obama selected Biden as the vice-president. Biden does not bring much to the table. When it comes to speeches, Biden seems to be full of gaffes and embarrasses the administration. If you Google the words Biden and Gaffe , you end up with 350,000 results. I believe Obama picked Biden so he could test out policies with Biden. If the policies are successful, they are attributed to Obama. If they are unsuccessful, the blame falls to Biden, and Obama can still be seen as the savior of the world.
Today we read an article where:
Biden acknowledged administration officials were too optimistic earlier this year when they predicted the unemployment rate would peak at 8 percent as part of their effort to sell the stimulus package. The national unemployment rate has ballooned to 9.5 percent in June — the worst in 26 years.
The Obama administration has had a history of underestimating a problem. The above quote is not a surpise to many conservatives. When Obama first took office, Obama underestimated the changes needed to accomplish his goals to change the Whitehouse website. Obama underestimates the financial impact of his Cap and Trade program. Obama underestimates the detrimental effects his Health care plan will have on the economy.
In other words, Obama is full of himself. He thinks he is all knowing where instead, he proves how incompetent his is at his job. Instead of being the executive and leader that we need, he continues to be the apologetic socialist, blaming the problems on someone else.
Obama promised to effect Change. But the Change he brings is Change for the worse. Since he took office, we have had the worst employment in a long time , a weakened dollar, and poor international relations. If Obama continues on his course, he will bankrupt the United States.
