Archive for May 9th, 2012

Most people know that Ronald Reagan was an actor before he became a great President.

So I guess it makes sense for Barack Obama to do the same thing, but in reverse. He’s starting as a bad President, but then will become a Hollywood star.

Some clever person already has put together some potential starring roles. Let’s start with the Wizard of Oz, with some updated dialogue that captures the President’s approach to tax policy.

And here’s another classic, Gone with the Wind, but updated to show how the President doesn’t care that his policies will accelerate America’s slide to European-style stagnation.

There’s also a starring role for the President in a remake of the Godfather, which seems appropriate given his Chicago roots and support for cronyism.

Bonnie and Clyde is another option, though this one is unfair. Obama supports TARP, which means he wants to rob taxpayers to subsidize banks.

Last but not least, we have a new version of “It’s a Wonderful Life.” Though, to be fair, the President seems to want entitlement checks for everybody.

If I was clever enough to manipulate pictures, I would do one from the scene in Braveheart where Mel Gibson is on horseback, motivating the Scots to fight against the English. But instead of Mel Gibson talking about freedom, we could have the President urging “dependency.”

I’m sure Julia would approve.

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I wrote a detailed blog post yesterday, showing that European governments have been very reluctant to restrain the burden of government spending.

Part of the problem is that the debate in Europe is a no-win exercise, pitting proponents of higher taxes (which is largely how Europe’s political elite defines “austerity”) against proponents of higher spending (notwithstanding a long track record of failure, the Keynesians have come out of woodwork and are claiming that bigger government stimulates “growth”).

With these terrible choices, no wonder the continent has such a bleak future.

Here’s a recent appearance on Fox Business News, where I discuss these topics.

I explain that Europe can grow and prosper, but only if politicians are willing to reduce the burden of government spending and lower tax rates.

But don’t hold your breath waiting for that to happen.

P.S. Americans shouldn’t get cocky. Our long-term fiscal outlook is equally grim. We can avoid a crisis if entitlement programs are reformed, but that obviously isn’t going to happen anytime soon.

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