The bankruptcy of the Obama-Pelosi ‘progressive’ agenda.

2/28/13

House Minority Leader Nancy Pelosi, leads a news conference on Capitol Hill in Washington to discuss the reintroduction of the Violence Against Women Act.
Pelosi blamed Congressional Republicans for obstructing the president’s agenda and creating uncertainty. In the wake of the financial collapse, the Democrats took full control of both the Congress and the presidency in 2009 and were presented with an historic opportunity to put their ideas into practice. Unfortunately, the newly elected President Obama and then-Speaker Pelosi treated the situation as a political opportunity to build a Democratic majority rather than an obligation to fix what’s broken in the economy.
Shrewdly, President Obama cobbled together a broader Democratic coalition by delivering to women free health care services, to Hispanics amnesty for young adults, to younger folks overly generous student loans, to teachers and civil servants subsidies to protect their jobs, to labor unions a rebuke of Simpson-Bowles recommendation that the retirement age be raised, and to his political friends generous subsidies for solar panels, windmills and other whimsical projects. Meanwhile, he cut defense, raised taxes on small businesses, and imposed unproductive regulations on manufacturing. Small banks aren’t lending but instead are looking to sell out to the Wall Street barons who financed the President’s rise to power. Small businesses are not expanding, and multinational corporations are taking factories and jobs to China and other Asian venues where genuine enterprise and capitalism, paradoxically, is supported.
Early in his presidency, Mr. Obama blamed China’s undervalued currency for slow U.S. growth and warned Chinese leaders if they did not cooperate to redress the situation. The President talks tough in front of friendly audiences and to Republicans when he enjoys the high ground, but brings his kneeling pad when negotiating with Chinese leaders. In the wake of the Deepwater Horizon disaster, the President punished the entire oil industry to gain political points and appease environmentalists.
His most significant accomplishment — ObamaCare has turned into a massive subsidy for the health care industry and welfare program for working class voters he hopes to secure for the next generation. Government spending is up over a trillion dollars, the federal deficit is spinning out of control and the country faces a credit downgrade by Moody’s.
Pelosi vilifies Republicans for not embracing the President’s “balanced” approach, but he shows no interest in cutting spending and only passion for raising taxes on success.
Sources—fox news, peter morici

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