Tag Archives: Dodd-Frank

THE FAILED PRESIDENCY OF BARAK OBAMA – PART ONE

Over the next week, between now and Christmas, I will write a series of articles on the failed presidency of Barak Obama.

According to thefederalist.com, Barak Obama has failed as president in ten ways (Article dated Sept. 16, 2014):

  • He didn’t heal racial divisions: While Obama did indicate a desire for a “purple America” instead of a red America and a blue America, he has done the opposite of bringing people of different races together as one. Instead, he has taken the United States of America back to the mid-sixties/early seventies with respect to race relations. His disastrous record on race dates back to an early point in his presidency when he rushed to judgement indicating that the police had acted “stupidly” in the arrest of Harvard Professor Henry Louis Gates by police Sargent James Crowley when Gates was entering his home after being away on a business trip. According to Wikipedia, Sgt. Crowley was responding to a call by a neighbor that someone was breaking into Gates’ house. Jumping to conclusions without knowing all the facts, Obama not only besmirched our nation’s police force, but began what was certainly a premeditated effort to divide this country along racial lines. Furthermore, Barak Obama has continued to divide this country along racial lines and I don’t expect him to stop anytime soon, even after he leaves office in January 2017.
  • The so-called stimulus package didn’t stimulate: Barak Obama was elected in the wake of the 2008 financial crash. Accordingly, in what was his first major act as president, he signed into an enormous spending package, adding onto our national debt. This package was supposed to jump-start the economy. Part of this stimulus package was supposed to contain “shovel-ready” projects, which Obama later admitted didn’t exist, but the billions of dollars spent disappeared without a trace. It seems like every summer we were promised a “recovery summer” where growth and employment was supposed to take off? Sadly, during the Obama presidency, the percentage of people working in the labor force actually declined. No one disputes that the economy was in crisis when Obama assumed the presidency. But he has presided over the slowest, weakest, economy recovery since the great depression.
  • Financial Reform didn’t reform: Obama assured us that we would never repeat the problems that led to the financial crisis and the recession in the first place. But the Dodd-Frank financial reforms didn’t reform anything. Instead, they created several thousand pages of new legislation and many, many more new executive branch regulations. These regulations have muddled the rules rather than clarify them. The old system in which a handful of giant financial institutions were considered too big to fail, and this could depend on the rest of us to bail them out, is alive and well.
  • The Obamacare disaster: The disastrous launch of Obamacare reminded us of everything that’s wrong with big government. No one in the administration, not even one Democrat was held accountable. I was a software engineer at the time the website was rolled out. It was unfathomable. Who was writing the code? I could have joined with five or six of my colleagues and had this out in six months and for a lot less money than was spent. The Obama administration further assured us that insurance coverage for 32 million uninsured would be provided. After four years, Obamacare had only covered between 10% and 20% of what was promised. Also, about half of those were covered through an expansion of Medicaid, a burden that would bankrupt the states, rather than through Obamacare’s Insurance Exchanges. We were lied to when we were told that if we liked our plan, we could keep our plan. We were also lied to when we were told that our premiums would substantially decrease. Many of us are paying huge premiums with enormous deductibles. If we were to need serious medical help, we could face financial ruin.
  • Obama failed to reform immigration: Per the Federalist, Obama spend all of his political capital on the failed stimulus and Obamacare, leaving nothing for immigration reform. Because he was unable to get anything through Congress, he floated a dubious plan to enact amnesty through a unilateral executive order that he doesn’t have. Instead, he failed to enforce the nation’s immigration laws, contributing to a crisis on the southern border. Thus, he has managed to enrage the right, the left, and the middle. He hasn’t cracked down on illegal immigration, he hasn’t legalized it, and he hasn’t forged any kind of compromise or consensus on the issue. Nothing has been accomplished.
  • He withdrew prematurely from Iraq: Obama was so eager to distance himself from George W. Bush that he pulled all of our troops out of Iraq as soon as possible. Furthermore, he totally ignored the country, even as a terrorist threat re-established itself there. For most of 2014, he downplayed the rise of the Islamic State, calling the JV. He later admitted to having no strategy for dealing with ISIS, but hastily put a plan together. Obviously, it didn’t work and ISIS is now in the United States and continues to flourish, and have been the root of several terrorist attacks taking place in the U.S., including those in San Bernardino and Orlando.
  • He blew the Arab Spring: When a series of uprisings overthrew dictators across the Middle East, Obama failed to adopt any meaningful policy or turn the situation to our advantage. He did nothing for so long with respect to Egypt that all of the factions there hate him, and most of Egypt’s liberals concluded that he was secretly backing the Muslim Brotherhood. As a result, Egypt went back to where it was, except this time, the military dictatorship regards the United States as a useless and irrelevant ally. Unfortunately, the two places where we could have taken advantage of the Arab Spring and rid these countries of evil dictators, Libya and Syria, ended in disaster. In Libya, the killing of our ambassador in Benghazi was just the beginning of a slow collapse into chaos and civil war. In Syria, three years of doing nothing allowed the rise of ISIS, which then spilled over into Iraq. And something many have forgotten about: In 2009, Iranians poured into the streets to oppose their own brutal theocratic, terror sponsoring regime, Obama sat back passively because he preferred to cut a diplomatic deal with the ayatollahs.
  • Obama ignored the threat of a resurgent Russian dictatorship: During a debate with Mitt Romney in 20012, Obama dismissed Romney’s suggestion that Russia might be a threat to American interests. As of September 2014, the president’s response to Russian aggression has been to impose a few more sanctions, make a speech in Estonia, and otherwise ignore the crisis and hope it goes away.
  • He didn’t shut down Guantanamo, keep the Russians from spying, or rein in the drones. Obama came into office having loudly condemned many of the Bush administration’s measures against terrorism. Then he continued them. It is the opinion of author, Robert Tracinski, that Obama has achieved a unique combination, managing to morally discredit America’s anti-terrorism policies without truly ending them.
  • He has made America irrelevant: Most of Obama’s failures have resulted not from taking a bold stand, but from taking no stand and just letting events drift. In many cases, he has given speeches or press conferences to announce his enlightened intentions, then did nothing to plan for how he was going to achieve his goals. In addition to his failures with the Arab Spring, the Ukraine, and Iraq, for most of his presidency, Obama has declared his intentions to “pivot to Asia,” extricating himself from the Middle East and focusing on bolstering our Pacific allies to peacefully manage the rise of China. He never did it and let the Asia pivot die of neglect.

When you combine the above with his frequent vacations, golf outings, and his fascination with the trappings of pop-culture celebrity, you get the impression that Obama has lost interest in being president or unable to handle the responsibility.

He was originally elected based on celebrity, on vague slogans of “hope and change,” on a sense of self-congratulatory smugness about how progressive and enlightened we would all be if we voted for him. He was re-elected on all of that, plus the smearing of his political opposition as racists and mean rich white guys.

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