Obama’s Virtual Economy And Virtual Truth

Contrary to the administration’s storyline, the economy is not creating jobs. We’re still short millions of jobs from when he took over, and that’s after all the so-called stimulus spending. What little economic growth there is, is happening in spite of Obama’s stimulus spending, takeovers, and Czars. Not because of them. And is the reason the economy hasn’t already shown good signs of recovery. He is depressing what is a strong economy eager to be set free.

The administration, with a little help from the media, is attempting to redefine progress. Let’s look at where we are: 8.2% unemployment is the new 5.2%.  The new norm.  That 8.2% is nothing to be alarmed about.  No problem.  And $5/gallon gasoline, that’s the new $3.  Not $4.  Remember when $4 was hit, everybody went crazy?  No, now $5 gasoline, “Hey, it’s the new the norm! It’s not as much as they’re paying in Europe.  You should feel lucky.”

Then there’s the oil head-fake, lie. The oil ‘subsidies’ which are not really subsidies but current tax law, are the same production and manufacturing incentives that all companies enjoy, whether they make cars or gasoline.

Yet, the Divider-in-Cheif continues to demagogue the entire industry, urging Congress to “stand with the American people” by voting to end subsidies to oil companies. Funny thing happened last week. The Democrat-controlled Senate stood with Big Oil and voted 51-47 against the bill. And how does the media report it? CBS’s  Bill Plante frames it like this . . . “GOP blocks Obama’s bid to end oil subsidies.”

From The White House, on the same day the Senate killed his bullying initiative to raise taxes on the oil industry, President Obama said . . .

“Right now, the biggest oil companies are raking in record profits. On top of these record profits, oil companies are also getting billions a year in taxpayer subsidies.”

Here’s a fact. The biggest oil companies will likely always earn record profits in terms of dollars. Not in terms of profit margin. When what you produce runs the economies of the world, and there is an endless demand for it coming from China, India, and other developing countries, the dollar amounts will consistently hit ‘record highs’ on a monthly, if not annual basis. If they don’t, then it will be because of no economic growth. Sure makes it easy for a politician to demagogue, doesn’t it?

Acting as though he was leading the charge to end crony capitalism when he was candidate Obama, President Obama climbs in bed with George Soros and Brazil. It’s just a bit dishonest for Obama to fund oil drilling and exploration in Brazil, then pledging to be their major customer, for oil that he refuses to get here.

Links: Higher gas prices cause less public anger this time  |  Obama says US to be major purchaser of Brazilian oil  |  The New Normal: Trickle-Down Poverty

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