It’s NOT the economy, stupid!
By AVI PERRY
Once upon a time, not too long ago, American presidents were able to impact the direction of the economy through a strike of their pen. They could deal with Congress when compromise was not considered a dirty word; come to an understanding on initiation of full-size programs requiring either massive spending or substantial budget cuts. They could implement programs affecting particular segments of the economy, general employment and unemployment levels, inflation levels and more.
Not any longer.
In the past two years of the Obama administration, following the Republican takeover of Congress, the president was unable to implement any fiscal policy comprising significant programs that could have a potential effect on the direction of the economy. President Obama’s chief blunder, subsequent to his swearing in, was not his inability to turn the economy around in the second half of his first term as president. It was in not making the most of the opportunity to further stimulate the economy when the Democrats were in command of Congress during his first two years.
Following the Republican congressional victory in 2010, and their avowal to unseat the president at all cost, they were able to stop any economic program that might have had a chance to pull the economy out of the deep ditch it had fallen into in 2008. And since a damaged economy would turn the public against an incumbent, the Republicans have been making sure it would stay in the ditch since the objective has been, still is, first and foremost, to unseat President Obama. Consequently Obama had no muscle left to prop up the moribund economic conditions. He may have had the right ideas, but was unable to execute under the present hostile atmosphere; his hands were merely tied behind his back.
This is why we should not hold Obama responsible for the slow recovery; likewise, we should not bid him too much credit if unemployment takes a sudden dive. It is simple. For the past two years the president has NOT been in control of the economy. The only governmental agency able to shape economic conditions in the U.S. has been the non-political Federal Reserve. Unfortunately, the Fed has run out of its heavy artillery shells. The few bullets still in its possession may not be sufficient for winning the war.
In the present environment, regardless of who the next president is, it seems unlikely that he may be able to reshape the economy. If Romney wins and the Democrats gain control of Congress or retain over 40 senators they are certain to take revenge and block Republican-“tainted” legislation proposals affecting the economy. If Obama is reelected and Congress continues to dwell under a Republican control, the president’s economic initiatives will keep on being dead on arrival.
The only areas where the next president may be able to effectively put his agenda into practice are foreign policy and homeland security.
Independently-minded voters should consider foreign policy philosophies of their presidential candidates as the chief factor in determining who their best choice is.
It’s not the economy, stupid, that your next president will be able to have a bearing. It’s his foreign policy; it’s the war on terror; it’s whether or not Iran will become a nuclear power; it’s whether or not the U.S. will promote an Egypt, which will be ruled by Sharia hungry Islamists seeking to modify the peace treaty with Israel, turn it into a cold war; it’s about whether or not the U.S. will be able to convince Russia and China to cease their support of evil regimes; it’s about all of these important issues rather than the economy that the next president will have the ability to reshape.
This time, it’s NOT about the economy, stupid. It’s only about the future of the rest of world we live in.
Dr. Avi Perry, a talk show host at Paltalk News Network, is the author of “Fundamentals of Voice Quality Engineering in Wireless Networks,” and more recently, “72 Virgins,” a thriller about the covert war on Islamic terror. He was a VP at NMS Communications, a Bell Laboratories distinguished staff member and manager, a delegate of the US and Lucent Technologies to UN International Standards body, a professor at Northwestern University and Intelligence expert for the Israeli Government. More information is available at www.aviperry.org.
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