Beware: New Obamanomics Plan Ahead
Crashing poll numbers for the President indicate that his “blame game” strategy is not working. Obama persistently lays all responsibility for the nation’s woes on former President Bush, Republicans, the Tea Party, Congress, Wall Street, talk radio and Fox News. Last week, he added “bad luck” to the list.
But the American people aren’t buying it, according to public opinion surveys showing the president’s Popularity sinking below 30%.
That’s sent the White House scurrying back to the drawing board. The President this week promised that, just as soon as he finishes his vacation in Martha’s Vineyard, he’ll roll out a specific plan to jump-start the economy this fall.
No need to rush on job creation, Mr. President. Rest well. Blaming others for your own failures can be very tiring. Very tiring, indeed.
What Biden Gaffe?
Last week, Tea Party activist Ryan Rhodes confronted President Obama and asked him why Vice President Joe Biden called the Tea Party “terrorists.” The President denied that his vice president used that word to describe the Tea Party in a closed-door meeting of congressional Democrats. Politico, the news outlet that originally aired the allegation, responded that they used five sources to confirm Biden’s remarks. Somebody is not telling the truth.
Ironically, the President had the audacity to criticize Texas Gov. Rick Perry for saying that Fed Chairman Ben Bernanke’s plans for printing more money are “almost treasonous.” Obama said, “Perry just got into the presidential race” and “you have got to be a little more careful about what you say.” That rule must not apply to members of his own administration. Consistency has never been an Obama strong suit.
Gas Tax—Give It to the States or Bank It?
On Sept. 30, the 18.4 cents-per-gallon federal gas tax expires. This should provide a great leverage point for conservatives. At a time when gas prices are through the roof, this expiration of a huge tax will allow conservatives to prove they support returning road-building to the states.
Conservatives are expected to roll out initiatives to devolve the maintenance of roads and bridges back to the states. If the states want to take up the collection of taxes to maintain infrastructure, then they should be allowed to do so without interference from the U.S. Department of Transportation.
Liberals, meanwhile, are expected to call for an increase in the gas tax and a national “infrastructure bank.” The new “bank” would be a great way to funnel more money to their friends in Big Labor.
Postal Service Bailout
The United States Postal Service is expected to lose $8.3 billion this year. The perpetual money-loser will have to ask Congress for another massive bailout.
Congress would do better to radically reform and downsize this outdated institution. Rep. Darrell Issa (R.-Calif.) has introduced legislation to establish a board to oversee reform. It would also put the postal service under new management if it defaults on monies owed.
Gingrich Rips ‘Super Committee’
Speaking at The Heritage Foundation last week, former Speaker of the House Newt Gingrich slammed the new “Super Committee” created by the recent act that increased the debt ceiling. The Super Committee is a bicameral commission (six senators, six representatives) tasked with finding $1.2 trillion in savings over the next 10 years.
This Gang of 12 roster features Senators Jon Kyl (R.-Ariz.), Pat Toomey (R.-Pa.), Rob Portman (R.-Ohio), John Kerry (D.-Mass.), Patty Murray (D.-Wash.) and Max Baucus (D.-Mont.), and Representatives Dave Camp (R.-Mich.), Fred Upton (R.-Mich.), Jeb Hensarling (R.-Tex.), James Clyburn (D.-S.C.), Chris Van Hollen (D.-Md.) and Xavier Becerra (D.-Calif.).
Gingrich called the committee “a truly bad idea.” There are 117 standing committees in Congress, he noted, yet this uber committee will be doing the jobs of all of those committees. The 12 members of the Super Committee, he said, will be doing the job of all 535 members of the House and Senate.