Posted by
Buster Foghorn on Monday, October 05, 2009 5:33:09 PM
Two economic reports last week confirm the worst fears of many Americans about the economic acumen of the Obama administration: the Thursday, October 2, declining auto sales report, auto sales plunging by 23%, sales for General Motors crashing 45%, sales for Chrysler collapsing 42%, the report corroborating the concern of critics that the billions spent for clunkers was as bad as any junkyard sale, stealing future sales, exacerbating conditions in an already weak economy reeling from trillions of dollars of spending by the Obama administration, and the Friday, October 3, 2009, Unemployment Numbers, rising to 9.8 percent in September, as employers cut 263,000 jobs, a 26 year high, setting the worst record since 1983, further persuading many Americans that the President’s Stimulus Bill is as ineffective as a committee of Washington politicians trying to write a piece of legislation in plain English.
And as the trillions of dollars of debt pile up, debt as wide as the prairie and as high as the heavens, both the Stimulus Bill and the Cash for Clunkers Bill add to a growing awareness that the President and his team are drifting aimlessly without a Captain at the helm, without a navigator, without anyone who knows the water or can chart a course to a sound economy, or as Vice President Biden aptly put it—we guessed wrong.