Obama: Congress Needs to Act on Economy - WSJ.com

DEMOCRATIC SMOKE AND MIRRORS: Obama: Congress Needs to Act on Economy - WSJ.com

Can we say "smoke and mirrors"!

As Nancy Pelosi said during the negotiations over the debt increase about any major cutbacks, "...it will end life as we know it".

As such, Obama would have to say something like "entitlements have to be cut", "ObamaCare will be put on hold until a new Congress and President can re-examine it", "Dodd-Frank will be put into stasis until its impact can be better assessed", "Corporate (and personal) income taxes will be lowered and simplified", etc.

Frankly, I've not heard anything like even one of the comments without codicils on taxes that have "their fair share" (meaning increases) attached to them.

The President seems to ignore the simple evidence before him from both the US and Europe that Democratic policies produce economic stagnation and eventually excessive debt.

The option of Japan is another case where high corporate tax rates make investment out of the country more attractive than domestic investment.

What is scary is that the US is starting to look like Japan. And, the longer the economy suffers under the real and projected cloud of Democratic spending priorities, the harder, longer and more difficult it will be for the US economy to right itself.