The Obama administration is more and more like Jimmy Carter’s every day.  Here’s Treasury Secretary Geithner making the case for economic malaise:

“But this is going to be a different recovery than in the past because Americans are going to have to save more. A lot of damage was caused by this crisis. It’s going to take some time for us to grow out of this.

“It could be a little choppy. It could be uneven. And it’s going to take awhile,” Geithner said.

I’m also calling for a “different recovery”–as in none, nada, niente, aucun, etc.  Just look at the macro economic policies this administration favors:

• Taxes, taxes, taxes—trillions for healthcare, global warming, bailouts, etc.
• Debt monitization
• Foreign debt sales
• Expiration of the Bush tax cuts
• Trillions in unfunded Medicare and Social Security obligations

I don’t know what the stock market will do on Monday, but I do feel pretty comfortable in saying the long-term looks bleak.  Geithner agrees with my assessment too.  He just uses words like “choppy” and ”different recovery”.

The Community Organizer-in-Chief doesn’t have the first clue about how the real economy works.  That’s why I’m not looking for a recovery or more jobs.  This guy simply isn’t up to the job.

Archived in: Jobs, President Barack Obama, Socialism, Taxes, Tim Geithner