DYCHE OPINION | Meanwhile, the Economy Still Stinks - WDRB 41 Louisville News

DYCHE OPINION | Meanwhile, the Economy Still Stinks

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Freshly back from his expensive African frolic, President Obama faces a harsh reality.  His still new second term is spiraling rapidly downward into abject failure.

Obama is oddly lucky that so much bad news is occupying public attention.  Otherwise, the people might hold him accountable for his pitiful performance on what should be his top priority – improving the awful condition of the U. S. economy.

This flurry of distractions began with his administration's lies about how American lives were lost in Benghazi.  Revelations that the IRS targeted conservative groups soon followed.

Then came reports that the government was spying on American citizens more than anyone, including Congress, knew.  Now the nation is absorbed in the sideshow of the fugitive leaker's flight from prosecution.

International news features the Middle East aflame with coups, revolutions, and sectarian civil war.  Secretary of State John Kerry trots the globe, but our increasingly aggressive adversaries ignore his babbling because they neither fear nor respect America under Obama.

Having lost a symbolic battle for gun control, Obama now backs an immigration bill that will neither secure the border nor pass the House.  Belatedly bowing to Obamacare's Byzantine complexity, he has cynically postponed a key part of that bad law because implementing it would hurt Democrats politically.

The mainstream media swooned over the Supreme Court's gay marriage rulings.  Next the press proclaimed a Texas state legislator a folk hero for her filibuster to defend the Democratic Party's holiest of holies – unlimited late-term abortions.

Meanwhile, the economy still stinks.  The tsunami of other negative headlines obscured the recent downward revision of first quarter economic growth from an already anemic 2.4 percent to 1.8 percent.

Remember Vice President Joe Biden's ridiculous (pardon the redundancy) proclamation of "Recovery Summer" three years ago?  The administration is now producing an even worse sequel to that embarrassing flop.

Incredibly, Obama's new plan is to raise energy costs by sacrificing America's coal-fired power plants to the green god of climate change.  Too bad the growing Chinese and Indian economies refuse to join him in practicing this secular religion.

For some reason Obama still holds the energy-and-job-producing Keystone Pipeline hostage.  It is as if he is actually against the economic growth we so desperately need.

Of course the President and his congressional co-conspirators still want higher taxes and more deficit spending.  Their Keynesian prescription is the economic equivalent of bleeding a sick patient with leeches and has already proved poisonous to American prosperity.

The administration boasts that the annual deficit will, for the first time under Obama, fall beneath a trillion dollars this fiscal year.  But exploding entitlements and rising interest rates portend a future of higher deficits, more debt, and further bloating of unemployment, food stamp, and disability rolls.

Woe unto the economy when the Federal Reserve really does stop printing dollars to buy our own bonds and artificially prop up the Obama economy.  All that funny money may yet yield "stagflation," that toxic tandem of low growth and higher prices for which Jimmy Carter was infamous in the late 1970's.

At the beginning of its 238th year America is in real danger.  There are lots of reasons for thinking things will get worse before they get better.

Obama and the Democrats will need a lot more bad news to keep the public from paying attention to their miserable performance on the economy.  But making bad news is what they do best.
 
John David Dyche is a Louisville attorney and political commentator for WDRB.com.  His e-mail is jddyche@yahoo.com.

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