The Political Cowardice of Barack Obama
Soaring rhetoric won't fix the economy.
“Let's never forget: Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that do the same,” he intoned. “It’s time to apply the same rules from top to bottom. No bailouts, no handouts, and no copouts. An America built to last insists on responsibility from everybody.”
Banality is one thing, but this veers into dishonestly. No president—not even the terrible one that preceded him—has embraced the culture of bailouts, handouts, and copouts more than Obama. His administration epitomizes the term “crony capitalism,” whereby friends of the leaders get large infusions of taxpayer cash (see Solyndra) and then are full of copouts about why the money disappeared. In his speech, Obama sung the praises of the automobile bailout and called for more bailouts and government investments.