Obama really is in "over his head" on the economy

In an interview with the Wall Street Journal, House Majority Leader Eric Cantor said that he felt that president Obama is in over his head with regard to what to do to grow the economy. His statement seems extremely harsh given that Obama is president and has teams of advisers to help him. Nevertheless, today's news stories give great support to what Cantor is saying.

First, according to the AP, Obama told his cabinet today that the economy's weakness was "partly because of things we couldn't control," such as the Japanese earthquake and the debt problems in Europe. While there is some truth to this, it misses the main point. Growth in the first quarter this year was at the rate of 0.4%, a rate that is just above recession. The first quarter, of course, took place before the Japanese earthquake and tsunami. It took place before the main problems occured in Europe. In other words, it is the baseline that was in effect before those problems hit, and it was growth at an anemic 0.4% rate. Only someone who did not understand this could possibly say what Obama did.

Second, in a briefing today, the White House spokesman reported that the president's view is that he does not not "believe that there is a threat of a double-dip recession". This is astounding! Obama does not say that we will likely avoid a double dip; no, there is NO THREAT of a double dip.

This last statement leads me to wonder just how the president celebrated his birthday. Had he already had seven vodkas by the time he spoke? Was he using medicianl marijuana? No threat of a double dip! Only a fool could say that. Indeed, when the final revisions come in for the GDP growth in the second quarter we may see that the economy is already contracting.

So the president does not understand the economy. Of course, the alternative is that the president does understand but chooses to lie to the American people in the hope that it will help his re-election campaign. Either way, Obama is a loser.

Since I have not said this for a few days, it is time for a repetition: OBAMA HAS GOT TO GO!!!!!!