Huckabee: Obama Leads, Dow Retreats

Posted: Sunday, August 14th, 2011 at 6:28 am
By: SATP

The following statement was made by former Arkansas Governor, 2008 presidential candidate, and Fox News commentator Mike Huckabee.  To read more of his ideas, visit his websites at MikeHuckabee.com and Radio.MikeHuckabee.com.

They say that when you find yourself stuck in a hole, step one is to stop digging. In President Obama’s case, step one might be to stop talking. Lately, every time he’s tried to reassure Americans about the economy, things have gotten worse. Monday, he made another attempt to shore up the markets. The speech was barely 10 minutes long, but the rout rolled on all day, with the Dow finally ending down 634 points which means it went down 200 points as soon as he spoke. Add that to last week’s drop, and stocks have lost nearly 7 percent of their value in one week. For good measure, S&P lowered the credit ratings of the government mortgage giants Fannie Mae and Freddie Mac, too.

But it wasn’t so much what President Obama said that failed to inspire confidence. It’s that he just keeps repeating the same boilerplate stuff that hasn’t worked. Right down to yet another call for more stimulus spending, even after Obama himself admitted that the only shovels the stimulus bill got moving were those that shovel tax money down a rat hole. Doing the same thing over and over and expecting different results was Albert Einstein’s definition of insanity. You could actually watch the Dow tick lower and lower as investors realized that his reaction to our credit downgrade wasn’t to propose bold new policies to boost business, cut spending and regulation, and reduce the debt, but to attack S&P and shift blame. Granted, at least he didn’t blame the Tea Party for the debt crisis, when they seem to be the only faction in Washington that’s serious about solving it. Instead, he blamed “gridlock.” “Gridlock” is every politician’s favorite punching bag. It’s easy to slam because it’s value-free. If the problem is simply that nothing can get done, then you can just throw your hands up and walk away without getting into messy subjects like what you think actually SHOULD be done and how you plan to make it happen anyway.

S&P made it abundantly clear: they lowered our credit rating because the government spends too much and isn’t making a serious effort to reign it in. If we want to reverse that, we all know how. Most of us have had to do it ourselves. But you don’t get it done by attacking the messenger, demonizing political opponents and continuing the status quo. Investors weren’t reassured because they heard nothing to suggest that Obama is ready to take the lead, change directions and make some really tough reforms. In fact, when he was running late, and some cable outlets just ran video of the Presidential lectern standing empty for 45 minutes as the Dow fell and fell, I began to wonder if that picture would go down in history as the iconic image of the Obama years.

 

 

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One Response to “Huckabee: Obama Leads, Dow Retreats”

  1. Juan Reynoso says:

    LATINOS FOR HONEST GOVERNMENT
    http://www.latinosfedtx.org
    http://www.teaparty.org/
    http://grassrootstexans.net/pages/home/
    August 21st, 2011.

    Fellow tea Party Members, The elite of the establishment of the political machine do not want Ron Paul to be our next President. The Republican party and the liberal news media that are controlled by the Globalist, free traders that control the IMF and the US Federal Reserve Bank, will do any thing to make sure that Congressman Ron Paul is out of the presidential race. The Republican Party will not nominate Congressman Ron Paul, they know that Obama will not be re-elected, and they will expend millions, to make sure that Rick Perry or any of the other candidates be elect to continue their agenda. The collapse of the economic system of the United States and the creation of chaos in Mexico is their plan to form the NAU. In 2008 they play the same game and work, they expended millions and they place in office Barack Obama, Fellow Tea party Members We are dealing with experts that are part of this culture of corruption in our country. they work hard to learn what the majority of Americans are concern about; the job of their chosen candidate is to promise the people of this country, that they will fix the problems and the issues the people are concern about, Millions are expended to convince the people that their man is the one that should be elect to office. That was the case with Obama and they will do it again in 2012.

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    We will not be silenced by this corrupt establishment. Rick Perry is part of the establishment. We must remember what he said”Illegal immigration is not my job is the job of the Federal Government”. Texas is being invade by thousands of Mexicans that fly from Mexico’s corrupt Government and the Narco traffickers that this United States is helping with arms and the transportation of drugs into the United States. Perry will be the next puppet that this Corrupt establishment will expend million to place in the White House to complete their job “The NAU”
    In 2012 we must vote for Ron Paul-Vote for America not this corrupt establishment.