Daniel Henninger–Obama's America: Too Fat to Fail

Many of Mr. Obama’s supporters surely thought this young, dynamic generation of public leaders would elevate the hip, cutting edge of the U.S. economy — nanotechnology, genomics, robotics, even health and medicine technology. Instead, we’ve gotten the Old Economy on dialysis. General Motors has been commanded to restart aging UAW factories to output product on behalf of the administration’s hybrid-car obsession. Where’s the New Economy in any of this?

Or ObamaCare. How will a build-out of Medicare (b. 1965) to cover everyone and costing $1.2 trillion over 10 years not kill innovation in medical and health technology by siphoning away growth capital and its potential financial rewards?
All of this seems so out of sync with the persona and promise Barack Obama conveyed in the campaign. A lot of his Web-based supporters probably thought Mr. Obama was going to be about promoting young guns with new ideas seeking risk capital for the next big thing. Instead, it looks as if the Obama years will be about managing soft landings for mature industries and old unions in the American autumn.

Congress is talking about a “bad behavior” tax on beer and soda pop to reduce obesity and fund mega-Medicare. How about a bad-behavior tax on government? Slim as the president looks, Uncle Sam is looking like quite the fat boy.

Read it all.


Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Economy, Office of the President, Politics in General, President Barack Obama, Science & Technology, The 2009 Obama Administration Bank Bailout Plan, The 2009 Obama Administration Housing Amelioration Plan, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The Fiscal Stimulus Package of 2009, The National Deficit, The Possibility of a Bailout for the U.S. Auto Industry, The September 2008 Proposed Henry Paulson 700 Billion Bailout Package, The U.S. Government

3 comments on “Daniel Henninger–Obama's America: Too Fat to Fail

  1. Br. Michael says:

    It’s nothing more than an old style command economy with plenty of government control. I can’t wait for the first Obamamobile to roll off the assembly line.

  2. libraryjim says:

    “too ____ to fail” is a mantra we have been hearing only too often in the past 100+ days. But like anything else, enough Government mismanagement can cause anything, including our Republic, to, if not fail, then to go into serious downspins.

  3. The_Archer_of_the_Forest says:

    [blockquote]Medicare (b. 1965) to cover everyone and costing $1.2 trillion over 10 years[/blockquote]

    If the US Government can insure every man, woman, and child for only 1.2 trillion dollars over ten years, that will be a miracle to rival Jesus walking on water.