Predictions before the Obama Presidency

by Aaron Mon Jul 11, 2011 2:35 pm

I'm curious to the thoughts of a few of you, specifically Jimmy as to these predictions made in The Wall Street Journal before Obama ascended his throne.

So where is the new Obama administration likely to take us? Seven things seem certain:

■The U.S. military will withdraw from Iraq quickly and substantially, regardless of conditions on the ground or the obvious consequence of emboldening terrorists there and around the globe.
■Protectionism will become our national trade policy; free trade agreements with other nations will be reduced and limited.
■Income taxes will rise on middle- and upper-income people and businesses, and individuals will pay much higher Social Security taxes, all to carry out the new president's goals of "spreading the wealth around."
■Federal government spending will substantially increase. The new Obama proposals come to more than $300 billion annually, for education, health care, energy, environmental and many other programs, in addition to whatever is needed to meet our economic challenges. Mr. Obama proposes more than a 10% annual spending growth increase, considerably higher than under the first President Bush (6.7%), Bill Clinton (3.3%) or George W. Bush (6.4%).
■Federal regulation of the economy will expand, on everything from financial management companies to electricity generation and personal energy use.
■The power of labor unions will substantially increase, beginning with repeal of secret ballot voting to decide on union representation.
■Free speech will be curtailed through the reimposition of the Fairness Doctrine to limit the conservative talk radio that so irritates the liberal establishment.

http://online.wsj.com/article/SB122504438328069963.html

The item I'm most interested in Jimmy is your thoughts on trade as you follow this stuff much more closely then I do.

by Cato Tue Jul 12, 2011 6:34 am

Like you Aaron I don't follow trade issues. However, that being said, I think the Obama addministration has held up a couple of trade agreements, one with South Korea, and the other I forget the nation(s) involved.

With the exception of the left's failure thus far to impose the Fairness Doctrine, it looks like everything else has come true.

This bring me to an item that really bothers me. As I look over the list produced by the Wall Street Journal, I fail to understand why anyone on their right mind would want to do these things or feel these items are good and necessary. Take for example regulation and taxation. History has shown that both items when taken to excess kill jobs and lower tax revenues, yet it is things like this the left embraces. It now seem like many on the right embrace the very same ideals. I fail to understand why many of our leaders are so infatuated with these items and why they continue to force them on the public when history has shown how dismally they fail.

by **ohio county** Tue Jul 12, 2011 3:28 pm

I think these three came true (the power of labor unions did substantially increase although "card check" appears a dead issue):

■Federal government spending will substantially increase. The new Obama proposals come to more than $300 billion annually, for education, health care, energy, environmental and many other programs, in addition to whatever is needed to meet our economic challenges. Mr. Obama proposes more than a 10% annual spending growth increase, considerably higher than under the first President Bush (6.7%), Bill Clinton (3.3%) or George W. Bush (6.4%).
■Federal regulation of the economy will expand, on everything from financial management companies to electricity generation and personal energy use.
■The power of labor unions will substantially increase, beginning with repeal of secret ballot voting to decide on union representation.

I think you will agree that Obama has tacitly approved free trade agreements with South Korea, Panama, and Colombia. He has, however, declined to offer them to the Senate for ratification in deference to his union meal ticket. He has (and I admit this has nothing to do with protectionism per se) remained silent while his NLRB has taken unprecedented license with Boeing in South Carolina. He would love to impose tariffs to protect heavily unionized longshoremen and other heavily unionized industries but doesn't dare as long as the country is in jeopardy of sliding back into full-scale recession. I firmly believe that unimpeded free trade is good for everybody. Innovative and quick-thinking Americans can compete with anybody.

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