The president is getting his wish. Within 48 hours of his re-election, at least as many companies, including Boeing’s defense division, have announced plans for massive layoffs. At this rate, everyone will be on the dole by the end of Obama’s second term, with no one left to foot the bill. All the movers, shakers, doers and producers will be on strike — John Galt style.
On Thursday, NBC News Radio Washington correspondent Bob Constantini tweeted:
“Good morning Washington. Is the smell of news conference in the air??? Obama with nothing on his schedule, today, yet. Maybe tomorrow?”
Constantini was referring to the presidential post-election news conference traditionally held on the Thursday following Election Day. It didn’t come. Nor did it come the following day. Given the president’s well-known reticence to answer questions from the media and the fact that such a conference will inevitably lead to questions on Benghazi, that was to be expected.
Instead, according to Friday’s White House schedule, at 1:05 p.m., “The President delivers a statement about the action we need to take to keep our economy growing and reduce our deficit.”
“The action we need to take”? What happened to the spirit of compromise we were promised — the reaching out across the aisle? It was nowhere to be seen.
The president said that he “invited leaders of both parties to the White House next week … to build a consensus.” The last time he did this, he gave U.S. Rep. Paul Ryan, R-Wisc., a front row seat to better belittle Ryan’s entitlement reform plan. The president pretty much did all the talking that day.
Moreover, Obama’s “statement” was delivered with barely concealed anger, all of which puzzled me. I mean, what did he have to be angry about? He’d just put one over on the electorate one more time.
The president has stated ad nauseum for the last five years that a return to the Clinton-era maximum tax rate of 40 percent would simply be a return to the status quo. Friday’s address was no different. But a return to those rates wouldn’t be status quo.
In the last four years, a mountain of new regulations has been added to the Code of Federal Regulations, most notably by the Environmental Protection Agency and the National Labor Relations Board. In addition, the Dodd-Frank Act has now manacled the financial industry, and the Affordable Care Act will do the same to everyone — businesses and individuals alike — when it is fully implemented in 2014.
According to CNSNews.com, in the past 90 days alone, the federal government has posted 6,125 regulations and notices – an average of 68 a day.
The stampede of companies that announced significant layoffs in the last couple of days is a reflection of this. The president has yet to understand.
He instead subscribes to the California school of circular tax reform, which goes something like this: Raise the tax rates on individuals and businesses, which in turn will cause taxpayers to either move away or drop out entirely, which in turn will lower the government’s tax revenue, which in turn will cause the government to increase tax rates again, which in turn will cause even more taxpayers to either move away or drop out entirely, which in turn will lower the government’s tax revenue, which … well, you get the idea.
If the president continues on the same course he has held for the last four years, we’re all gonna be eating baklava and dancing the Tsestos, baby. That’s right, we’ll be going Greek.
Click here for a video of the president’s statement.