Investors.com offered a rousing review of Obama’s speech, pointing out the recycled (and foundless) promises.
Instead of bolstering our spirits with hope, Obama reiterated the current problems we’re facing after a 4+ year recession and said “our road [to recovery] is longer .” He committed to provide Government-provided assistance to practically anyone who could possibly want it but failed to discuss our all time national debt of $16 trillion. He promised to take steps to keep Social Security a future hope, but failed to point out the only way to do so is to raise taxes or cut benefits. He claimed to be able to create millions of new jobs, cut tuition in half and reform the tax code — “by magic, apparently, since he’s provided no detailed plans on any of this,” said Investors.com.
Most terrifying, however, is Obama’s promise to pursue “the bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one.”
But as Amity Shlaes explained in her outstanding history of the era — “The Forgotten Man” — it was precisely FDR’s “bold, persistent experimentation” that was largely to blame for the length, depth and severity of the Great Depression.
We’ve already been there, done that – yet this is Obama’s hope for the future? Second attempt at experimenting?