Obama's Laugh Riot
CHARLOTTE, N.C. (AP) — President Barack Obama lampooned the just-completed Republican National Convention as better-suited to an era of black-and-white TV and " trickle-down, you're on your own" economics Saturday, and declared that Mitt Romney "did not offer a single new idea" to fix the economy.
"There was a lot of talk about hard truths and bold choices, but no one actually told you what they were," Obama said in Iowa, chuckling, as he set out on a three-day tour of battleground states in the run-up to his own convention. Later, Obama said, the Republican gathering was so rooted in the past, there should have been a rabbit-ears antenna on the convention hall.We look forward to hearing President Obama's "new ideas" to fix the economy next week. New ideas, not old ones like his failed and wasteful stimulus program, propping up public employee unions, the Solyndra debacle, nixing the Keystone XL Pipeline, and his failed take over of GM with taxpayer dollars.
It seems his one new idea is to do for other industries what he did for GM, as noted recently by George Will:
After a delusional proclamation — General Motors “has come roaring back” — Obama said: “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.” We have been warned.
Obama’s supposed rescue of “the auto industry” — note the definite article, “the” — is a pedal on the political organ he pumps energetically in Ohio, Wisconsin, Michigan and elsewhere. Concerning which:
He intervened to succor one of two of the U.S. auto industries. One, located in the South and elsewhere, does not have a long history of subservience to the United Auto Workers and for that reason has not needed Obama’s ministrations. He showered public money on two of three parts of the mostly Northern auto industry, the one long entangled with the UAW. He socialized the losses of GM and Chrysler. Ford was not a mendicant because it was not mismanaged.
Today, “I am GM, hear me roar” is again losing market share, and its stock, of which taxpayers own 26 percent, was trading Thursday morning at $21, below the $33 price our investor in chief paid for it and below the $53 price it would have to reach to enable taxpayers to recover the entire $49.5 billion bailout.President Obama laughs a lot at silly Republicans. He tries to get his audiences laughing too. 23 million out of work and a deficit of $16 trillion. What's not to laugh at?