The Bankruptcy of the Obama-Pelosi 'Progressive' Agenda: Opinion
Sadly, the President talks tough in front of friendly audiences and to Republicans when he enjoys the high ground, but brings his kneeling pad when negotiating with Chinese leaders. He has simply done little to reverse the flow of money and jobs to the Middle Kingdom and other venues in Asia.
In the wake of the Deepwater Horizon disaster, the President punished the entire oil industry to gain political points and appease environmentalists. So much for substantially reducing the oil deficit!
His most significant accomplishment -- Obamacare has turned into a massive subsidy for the health-care industry and welfare program for working class voters he hopes to secure for the next generation. Health care costs 50% more than in Germany -- where outcomes are better -- and health insurance premiums and co-pays borne by business and the middle class keep rocketing.
Government spending is up over a trillion dollars, the federal deficit is spinning out of control and the country faces a credit downgrade by Moody's. Former Speaker Pelosi vilifies Republicans for not embracing the President's "balanced" approach, but he shows no interest in cutting spending and only passion for raising taxes on success.America hardly lacks the technology, capital and enterprise necessary to succeed, but unfortunately, it is led by a man hell-bent on building a political majority, and with little interest in fixing what's broke in the economy. Follow @pmorici1 This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV