Obama Economic Policies Resulting in Opposite of the Desired Effect

No surprise here:

NEW YORK (AP) - The Federal Reserve announced a $1.2 trillion plan three months ago designed to push down mortgage rates and breathe life into the housing market.

But this and other big government spending programs are turning out to have the opposite effect. Rates for mortgages and U.S. Treasury debt are now marching higher as nervous bond investors fret about a resurgence of inflation.

That's the Catch-22 threatening to make an awful housing market potentially worse and keep the economy stuck in a funk. Kick-starting the economy requires higher spending, but rising rates mean fewer Americans will be able to refinance their home loans. And some potential buyers will be shut out of the market by higher monthly payments they won't be able to afford.

Given that the massive government spending to date has served only to prop up dying union companies and various Dem special interest groups, it's not surprising at all that the overall economy is being successfully stimulated. In fact, a double-dip recession is even more likely rather than a rebound toward economic growth.

Of course, as one person pointed out on Facebook, the actual effect may in fact be what Obama really wants to happen. All the better to make people more reliant on the government.