Left to right: President Barack Obama, Vice President Joe Biden and House Speaker John Boehner
The Judiciary Report is disappointed that President Obama has the tag of "zero jobs created" attached to his name, in a presidency that held so much promise, but has gone terribly awry (Stunning New Rick Perry Presidential Ad Paints Obama As ‘President Zero’). However, Obama chose a path that was financially risky, ignoring many warnings that what he has been doing will turn out badly...and it did.
Infrastructure Spending
From early in his presidency, the Judiciary Report, warned against Obama trying to replicate what former president, Dwight Eisenhower did, via massive infrastructure spending. In the October 21, 2010 article Obama Trying To Be Dwight D. Eisenhower the Judiciary Report warned against Obama's profligate spending in this area of commerce.
Obama was not tough enough on corporate stimulus recipients, something the Judiciary Report warned against before the wild spending began (Obama Calls For Job Summit). There was no fear of what would happen to them if they hoarded, misappropriated or embezzled taxpayer funds, so they did what they wanted to with the money. Obama was trying to win their affection and support by buying them with federal taxpayer money, given as handouts, but this was ill-advised.
You cannot be a chummy friend to industry, when you are the government. You are a regulator and overseer. There needs to be clearly defined lines that must not be crossed. You can't trust people with that much money. It doesn't matter what nation, as there will be someone with a bright idea on how to steal it. Too much temptation to steal cookies from the jar has proven the downfall of many.
One can't just say, "Here's a billion dollars, go create some jobs" as some will think, "It's more like I'll create some offshore bank accounts." To this day, there has been no real accountability with taxpayer funded corporate stimulus funds. Some companies need to return the money under the penalty of imprisonment, for misuse of the funds. There should have been ground rules - if you mess up with this, I'm going to mess you up (within the law, of course).
At this point, hypothetically speaking, the government would have been better off giving the money to McDonalds, Walmart or Apple, though they did not need it, as they created jobs during that time period, where others on Wall Street failed to do so. Let's face it, Wall Street has become Hoard Street. The stimulus screening process is very poor.
Frivolous Initiatives
Even in the face of the fiasco that has become Solyndra, President Obama, is still trying to push through $9 billion dollars in taxpayer money for similar solar and wind projects. These are risky investments that can wait, until they can be done more cost effectively and at a real profit. This was and is not the time for the new and experimental, when you are struggling with an economy that is in dire straits. You do that when there are surpluses, not detrimental debt and skyrocketing deficits.
The president needs to focus on the meat and potatoes of economic earnings, not the costly caviar and champagne model. Sound, proven strategies and products. Not items and initiatives with a big question mark over their potency and profitability.
Criminals In The Corporate World
No world economy can thrive with a significant number of fraudsters in its midst and Wall Street is still suffering from this problem, even with the arrests of Bernard Madoff and Allen Stanford. For years, the Judiciary Report has state the government is covering up the crimes of high profile financial criminals (Cleaning Up Corporate America, How George Bush Destroyed The U.S. Economy and This Is Not "Wall Street").
Even with the battering the economy continues to take, the government refuses to arrest a group of known fraudsters deteriorating the nation's bottom-line. Too big to fail also extends to too big to arrest.
Bad Advice
President Obama has listened to all the wrong people - particularly Hollywood, which loves to invoke Ronald Reagan as an excuse for meddling in politics, when they don't know what they are doing. While I didn't agree with everything Reagan did, the man was no idiot. He was a university educated actor turned politician, that came from the old school, where a premium was placed on intelligence.
There is not one modern actor or singer in Hollywood that could hold a candle to Reagan in this regard. Nowadays, you'll find, most stars are occult worshiping, mental patients waiting to happen, masquerading as celebrities (see: Britney Spears, Lady Gaga, Madonna, Nicki Minaj and Charlie Sheen, to name a few).
