Obama sows seeds of demise

"So if voters differ so fundamentally with the president on the very essence of his program, why do they accord him high ratings? They are like the recently married bride who took her vows 100 days ago. It would be a disaster for her life if she decides that she really doesn’t like her husband. But she keeps noticing things about him that she can’t stand. It will be a while before she walks out the door or even comes to terms with her own doubts, but it is probably inevitable that she will.

For Americans to conclude that they disapprove of their president in the midst of an earth-shaking crisis is very difficult. But as Obama’s daily line moves from 'I inherited this mess' to 'There are faint signs of light,' the clock starts ticking. If there is no recovery for the next six months — and I don’t think there will be — Obama will inevitably become part of the problem, not part of the solution.

"And then will come his heavy lifting. He has yet to raise taxes, regiment healthcare or provide amnesty for illegal immigrants. He hasn’t closed down the car companies he now runs and he has not yet forced a 50 percent hike in utility bills with his cap-and-trade legislation. These are all the goodies he has in store for us all.

"Obama’s very activism these days arrogates to himself the blame for the success or failure of his policies. Their outcome will determine his outcome, and there is no way it will be positive.

"Why?

• You can’t borrow as much as he will need to without raising interest rates that hurt the economy;

• The massive amount of spending will trigger runaway inflation once the economy starts to recover;

• His overhaul of the tax code (still in the planning phases) and his intervention in corporate management will create such business uncertainty that nobody will invest in anything until they see the lay of the land;

• His bank program is designed to help banks, but not to catalyze consumer lending. And his proposal for securitization of consumer loans won’t work and is just what got us into this situation.

"So Mr. Obama should enjoy his poll numbers while he may."