The president gave his speech yesterday on climate change. 6,500 words and not one mention of unemployment or GDP, as the Wall Street Journal points out. Instead we get a job and growth killing whacko-left set of executive orders that will do nothing to reduce global warming (read: China), but will cost us plenty. If all the other policies and entitlement expansion were not enough to stop the economy, this new set of mandates sure will. But take comfort, there was not much going on to stop in the first place.
I firmly believe we are now on a new 2% long-run growth path for the economy, down from the heady 3% from 1980-2010. After reading the highlights of this speech, I just dropped it to 1.5%.
I remember the president campaigning for the 2008 election and in one speech he said "we have to do something about climate change....no more keeping your home thermostat on 72 degrees." If you don't think that is next then you are delusional. Remember, the New Deal and the National Industrial Recovery Act was gutted by some butchers in Brooklyn named the Schechter brothers. They objected to the rules that even specified how they could pull chickens from a cage without violating NRA statutes and being fined. They took it all the way to the Supreme Court and won. How far of a stretch is it to mandate thermostats that won't go below 76 degrees if big brother FDR thought he could tell butchers how to pull chickens from a cage?
Do yourself a favor...get in shape. I hear it is easier to take the heat that way and you will be less likely to need Obamacare.
Central planning does not work and yet all we are getting is more of it. God help us.
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Someone asked if the Scandinavian countries are not worth a look and how they grow with high employment and near socialism. I have not censored your comment, the software of the blog did not process it correctly. so I publish your comment as I remember it.
I think of Denmark. Morley Safer of 60 Minutes went there and did a special. He asked the Danish youth that if they could say one thing to their American counterparts what would it be. One guy responded "give up on the American dream and let government take care of you." You can probably guess what I think of that. I will ponder this more deeply. I do know that wealth accumulation and bequests in Scandinavia are tough business so leisure is the key feature like most of Europe.
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