Reason Magazine’s Nick Gillespie and Matt Welch look at Obama’s first hundred days. “Instead of thinking outside the box, Obama is nailing it shut from the inside.”
On the economy, and specifically on the economic crisis, Obama came to office promising a sharp break from the past. Instead, he has added so much fuel to the fires that George W. Bush ignited—exploding already swollen deficits, using TARP monies (which were statutorily provided for banks) not just for auto companies but minor auto parts manufacturers, and giving the federal government more power to seize private companies than even Henry Paulson dreamed of wielding. Such has been the extent of Obama’s me-tooism that he’s taken to defending his record by pointing out that, hey, Bush started it!
The latter was actually a rare moment of transparency; Obama’s typical M.O. is to proclaim a new era of responsibility while ushering in a new era of irresponsible debt, promise to close the revolving door of lobbyists and government while keeping it open, and vow to post all bills online for five days without doing anything of the sort. He says the bailout is “not about helping banks—it’s about helping people,” then gives more of the people’s money to banks. He says he doesn’t want to run General Motors, then fires its CEO, guarantees its warranties, and wags his finger about the company’s surplus of brands. He says he’s taking a battle-axe to the budget, then offers to shave $100 million off a $3.4 trillion tab.
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