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HUGH HEWITT: The hope and change hangover – Washington Examiner

August 29, 2011

The hope and change hangover

By: Hugh Hewitt | Examiner Columnist | 08/28/11 8:05 PM

National excess, like individual overindulgence, leads to uncomfortable aftereffects and even deeply painful ones.

The “hope and change hangover” the country is experiencing is 100 percent the consequence of the policies adopted in 2007 and 2008 by President Obama in concert with Nancy Pelosi and Harry Reid.

Even the recession bequeathed to this trio of massive spenders combined with the dire consequences of the Panic of 2008 did not oblige the country to struggle through the dreariest recovery in modern times.

This is an Obama-made becalming of the economic waters, an inevitability when Obamacare, the Dodd-Frank Wall Street reforms, an out-of-control federal regulatory blob consisting of the Environmental Protection Agency, Consumer Product Safety Commission, Department of Interior and more, combined with massive deficits to create the perfect storm for the private sector.

Amity Shlaes described in her magnificent “The Forgotten Man: A New History of the Great Depression” how President Franklin Roosevelt and his group of political operatives and academic theorists prolonged the terrible times brought on by the Crash of 1929 by endless “innovation.”

The uncertainty that resulted drove capital and the entrepreneurs who might have deployed it underground. Unpredictable government was a menace to private-sector planning and investment, but this fundamental truth eluded Roosevelt.

Sadly, Obama, wearing his Alinskyite blinders and advised by his Chicago gang, either didn’t read or failed to understand Shlaes’ arguments. Every promise he made about every policy and program he proposed has turned to ash, and the national headache is profound and debilitating.

Don’t expect “hope and change” to be the defining brand of the president’s bid for re-election. But do expect a “hair of the dog” set of proposals when the president unveils the specifics of his latest “hard pivot” to jobs.

via The hope and change hangover | Hugh Hewitt | Columnists | Washington Examiner.


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