It’s a question, or rather, it’s an hypothesis that my callers have put forth on a regular basis. I think mostly because Rush repeats it often. John Hinderaker at Powerline examines the evidence and like me, he’s not so sure.
At the heart of the argument is a piece at Big Peace by Peter Schweizer that makes the case that Obama must indeed be on a course to wreck the economy, otherwise how do you explain his actions?
As the Wall Street Journal reports today, the Obama Administration may have lifted its ban on drilling in the deepwater Gulf of Mexico, but there are still long delays in getting other permits approved to drill for oil. Why? No one seems to know. We assume that politicians do what is in their own self-interest, but in this case Obama seems to be damaging himself because he is dragging down the economy. As the Journal puts it, “The Gulf coast economy has been hit hard by the slowdown in drilling activity.” And Obama doesn’t seem particularly eager to change that fact.
But John thinks the answer is more basic.
What I think emerges here is President Obama’s astonishing ignorance of economics, which is to say, how the world works. I don’t think he is intentionally trying to damage our economy, simply because he knows that he has no chance of being re-elected unless the economy rebounds. At the same time, I think he is so appallingly ignorant of how wealth is created that he believes killing off jobs, as his administration has done along the Gulf Coast, is no big deal.
There’s much more. Go read.