State of The Union Commentary
Wednesday night, I suffered through Mr. Obama’s speech . I noticed the overarching theme was: in 2010, the administration will finally getting around to all it promised for 2009, as well as a whole other year worth of miracles. He begins by taking credit for saving the economy from a second Great Depression. “[W]e acted, immediately and aggressively. And one year later, the worst of the storm has passed.” Except for the massive unemployment, which he notes in his next breath. Wasn’t the worst of the storm the pain of the American people? Or was it the so-called credit freeze that Mr. Obama seems to imply is still happening: “[W]hen you talk to small-business owners in places like Allentown, Pennsylvania, or Elyria, Ohio, you find out that even though banks on Wall Street are lending again, they’re mostly lending to bigger companies. Financing remains difficult for small-business owners across the country, even though they’re making a profit.” Here’s another thing that doesn’t add up fo...