{"id":11560,"date":"2009-03-03T19:13:33","date_gmt":"2009-03-03T19:13:33","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/a_wsj_editorial_the_obama_economy\/"},"modified":"2009-03-03T19:13:33","modified_gmt":"2009-03-03T19:13:33","slug":"a_wsj_editorial_the_obama_economy","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=11560","title":{"rendered":"A WSJ Editorial: The Obama Economy"},"content":{"rendered":"<p>As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama&#8217;s policies have become part of the economy&#8217;s problem.<\/p>\n<p>Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it&#8217;s become clear that Mr. Obama&#8217;s policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence &#8212; and thus a longer period of recession or subpar growth.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB123604419092515347.html\">Read it all<\/a>.<\/p>\n<p><b>Update<\/b>: <a href=\"http:\/\/www.investors.com\/editorial\/editorialcontent.asp?secid=1501&#038;status=article&#038;id=320892987513114\">Investor&#8217;s Business Daily is not happy either<\/a>:<\/p>\n<p><\/p>\n<blockquote><p>Capital, bluntly put, has gone on strike. Those who own wealth are pushing it to the sidelines, as a young and inexperienced president tries to jam through the most sweeping economic changes in over 70 years.<\/p>\n<p>The prospect of these changes becoming law has already radically altered our nation&#8217;s economy. Entrepreneurs and CEOs who once created new products, new services, jobs and trillions in wealth for America&#8217;s workers and retirees now find themselves vilified and punished for their success.<\/p>\n<p>ABC News reported this week that many upper-income taxpayers already are planning to cut back on work and investments to stay under $250,000 in income \u201d\u201d the point where Obama&#8217;s punitive taxes kick in. No one wins from this, yet Obama seems oblivious.<\/p>\n<p>This isn&#8217;t the only warning sign. A new study asserts that some 100,000 highly educated, well-trained Indians now living in the U.S. will return home in the next few years. Ditto China.<\/p>\n<p>Immigrant entrepreneurs are highly sensitive bellwethers of economic and social conditions. They know where the opportunities are \u201d\u201d and where they aren&#8217;t. They&#8217;re voting with their feet.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=11560\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,670,149,616,151,667,596,601,584],"tags":[],"class_list":["post-11560","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-budget","category-economy","category-office-of-the-president","category-politics-in-general","category-president-barack-obama","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-fiscal-stimulus-package-of-2009","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/11560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11560"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/11560\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}