Rush Gets His Wish - Obama Has Failed

A few days before Obama's inauguration Rush Limbaugh made his infamous statement:  "I hope he fails!"  Well...from the Washington Examiner - Obamanomics has failed:

Predictably, the stimulus bill has proven to be an extraordinary waste of borrowed money that has failed to create jobs, generate economic growth or do much of anything other than line the pockets of White House political allies. That and give $308 million in subsidies to BP before the Gulf oil spill disaster, and subsidize a study on what happens when monkeys snort coke.

As Romer fades back to her teaching post at Berkeley, Obama is adding to the economic misery by creating an environment of regulatory uncertainty. The Wall Street reform law Obama recently signed potentially requires 533 new regulations, 60 studies and 93 reports, according to the U.S. Chamber of Commerce. Obama's Environmental Protection Agency has 29 active rulemakings, and there are 100 new rules on the Labor Department's agenda and 26 at the Transportation Department.

Add Obama's determination to raise everybody's taxes by allowing the Bush cuts from 2001 and 2003 to expire Jan. 1, 2011, and it's easy to see why banks, businesses and consumers are hoarding trillions of dollars that could otherwise spur economic growth. And we haven't even addressed the destructive effect on economic growth of Obama's nationalization of major portions of the economy, including the banks, health care and the auto industry.

The economy is stalling, unemployment seems stuck at European levels of idleness, the federal deficit and the national debt are at historic highs, public confidence in Congress is at its lowest-ever level and big majorities of Mainstream Americans say Obama has the country on the wrong path. Obamanomics has failed miserably and it's time for everybody in this town to admit it so we can move on.

From the beginning Obama has concentrated only on passing his liberal agenda. Nothing else mattered as long as Obamacare and various other initiatives designed to reward unions and liberal special interest groups and punish everyone else got passed.  Nothing has changed in his priorities since January 2009.

But now it's becoming obvious that his days of free-wheeling socialism are coming to an end.  Though he will remain in office until 2013 his last two years will probably feature a Congress that opposes just about everything he does.  He'll likely lose the House.  The Senate may remain in Dem hands, but only with a small majority and certainly not big enough to stop GOP filibusters.

The GOP will also be hampered by a president who will veto anything that attempts to undo his socialist agenda.  The best we can hope for is two years of relative inactivity until we get a new president.

And that's not such a bad thing.