Monday, May 21, 2012

Note to Obama: you suck at your job

Today, at the NATO Summit news conference, President Obama said quite matter-of-factly that with regard to  Romney and Bain Capital, "This is what this campaign is going to be about." Fair enough. That's straightforward, no punches pulled, right? But let's look at what he said, in full. He was asked by a reporter about an ad from his campaign that criticizes Romney and Bain and he was asked about his views on the role of private equity firms (i.e. venture capitalists and corporate raiders). The President's response [my boldface]:
But understand that their priority [private equity firms] is to maximize profits. And that’s not always going to be good for communities or businesses or workers. And the reason why this is relevant to the campaign is because my opponent, Governor Romney, his main calling card for why he thinks he should be president is his business experience. He’s not going out there touting his experience in Massachusetts. He’s saying I’m a business guy and I know how to fix it. And this is his business.

And when you’re President, as opposed to the head of a private equity firm, and your job is not simply to maximize profits. Your job is to figure out how everybody in the country has a fair shot. Your job is to think about those workers who get laid off and how do we pay for their retraining? Your job is to think about how those communities can start creating new clusters so they can start attracting new businesses. Your job as President is to think about how do we set up an equitable tax system so that everybody is paying their fair share that allows us to invest in science and technology and infrastructure. All of which is going to help us grow.

If your main argument for how to grow the economy is I knew how to make a lot of money for investors, then you’re missing what this job is about. It doesn’t mean you weren’t good at private equity. But that’s not what my job is as President. My job is to take into account everybody, not just some. My job is to make sure that the country is growing not just now, but 10 years from now and 20 years from now.

And so, to repeat, this is not a distraction. This is what this campaign is going to be about. Is what is a strategy for us to move this country forward in a way where everybody can succeed. And that means I’ve got to think about those workers in that video just as much as I’m thinking about folks who’ve been much more successful.
Read the boldfaced portion again.

Now first off, the statement is wrong. That's not what the job of the President is, at all. Well, at least not according to the Constitution. And this is probably the single biggest problem with the American Left: their lack of understanding, with regard to what the government is there for, what it is constituted to do. Nowhere in the Constitution is the President tasked with growing the country, the country's economy. If any branch is so tasked it is Congress, but even that's a stretch. Really, the role of Congress--and the President--is to promote economic growth, mostly by establishing and enforcing the needed rules for maintaining the economic system. But there are still going to be ups and downs. Everyone with a clue knows that. No President can guarantee growth during hos own term, let alone growth ten or twenty years down the road. Such a promise is just asinine.

But let's suppose Obama is right, that it is his job to "make sure that the country is growing not just now, but 10 years from now and 20 years from now." How's he doing? The worst "recovery" in the history of the country. A "new normal" for unemployment rates, with millions of the roles of those seeking work. Record-setting deficits. A Social Security Trust Fund handing out more than it takes in, for the the first time ever. Public monies wasted on "green" technology. An increase in regulations that make it more difficult for businesses to operate.

That's the President's economic record. So if we hold him to the job requirements he has set forth for himself, there is only one conclusion to draw: he sucks at his job.

Whether or not Romney's experiences at Bain Capital will translate into the ability to improve the economy becomes a moot point, since the principal point is that Obama doesn't have a handle on the economy, as a matter of course. Thus, Obama's argument becomes "I don't know what the hell I'm doing, but at least my opponent might." That's a helluva campaign slogan...

Cheers, all.

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