Shots on the House

His policies are destroying the economy. This is literally “the greatest wealth destruction by a President” that we have ever seen. The latest economic data is out and the forecast is getting grimmer by the day. Via Yahoo Finance, here’s the news:

WASHINGTON (AP) — The U.S. unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs amid a deepening recession.

Both figures were worse than analysts expected and the Labor Department’s report shows America’s workers being clobbered by a wave of layoffs unlikely to ease in the coming months.

Of course however, we won’t be talking about the 1983 recession, because as Rush Limbaugh made clear in his CPAC speech, that recession was ended with tax cuts. As further evidence of the economic damage, the chart below illustrates the DOW Jones Industrial Average since Barack Obama’s election to the office of President. The area in red shows the DJIA since his inauguration. Check it out:

It’s quite obvious from looking at this chart that economic confidence has not risen, it has fallen drastically. You wouldn’t know that from listening to his rhetoric. President Obama was speaking at a ceremony in my “new home city” of Columbus, Ohio today, and he was touting the economic recovery plan which is doing anything but helping the economy to recover. The Columbus Dispatch has the transcript:

Now there were those — there were those who argued that our recovery plan was unwise and unnecessary. They opposed the very notion that government has a role in ending the cycle of job loss at the heart of this recession. There are those who believe that all we can do is repeat the very same policies that led us here in the first place.

But I also know that this country has never responded to a crisis by sitting on the sidelines and hoping for the best. I know that throughout our history, we have met every great challenge with bold action and big ideas. That’s what’s fueled a shared and lasting prosperity. And I know that at this defining moment for America we have a responsibility to ourselves and to our children to do it once again. We have a responsibility to act, and that’s what I intend to do as President of the United States of America. (Applause.)

So for those who still doubt the wisdom of our recovery plan, I ask them to talk to the teachers who are still able to teach our children because we passed this plan. I ask them to talk to the nurses who are still able to care for our sick, and the firefighters and first responders who will still be able to keep our communities safe. I ask them to come to Ohio and meet the 25 men and women who will soon be protecting the streets of Columbus because we passed this plan. (Applause.) I look at these young men and women, I look into their eyes and I see their badges today and I know we did the right thing.

This is a stupid emotional plea. What’s going to happen when the stimulus money runs out and the City of Columbus and the State of Ohio are both unable to sustain these jobs? They could’ve hired in these cadets by cutting spending on stupid wasteful programs, but instead they depended upon federal stimulus money to “bail out” their political futures. This plan has shown no actual signs of stimulus, and using the President’s metrics, it is untestable. He says we’ll know if the plan is successful if it “saves or creates 3 million jobs.” So what? If at the end of the year we’re down a million jobs the President can stand up and say, “Because of my plan, we lost a million jobs instead of four million jobs.” Give me a break. This plan is garbage and the President’s rhetoric doesn’t match up to his record.