It’ll come as Democrats abandon him.
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But the Gulf oil spill emanates from federal waters, which means President Obama is directly in charge, not state and local officials. And his derelictions are losing his own supporters. Democrat Powers writes, “If he promised us anything, Obama promised us competence. Instead, we’ve gotten the Keystone Cops.” As Peggy Noonan said of the Democrats in last weekend’s Wall Street Journal, “In time — after the 2010 elections go badly — they are going to start to peel off. The political operative James Carville, the most vocal and influential of the President’s Gulf critics, signaled to Democrats this week that they can start to peel off. He did it through the passion of his denunciations.” Therein lies the beginning of the end.
That end will be greatly accelerated if any email, document, or other serious evidence turns up indicating that President Obama or his cronies delayed the federal response in any way because they thought the spreading spill would advance their political agenda. Or if any evidence arises that Obama failed to respond to Jindal for partisan political reasons.
Geometric Downward Spiral
Moreover, all of this is just what’s happening now. What leads me to predict President Obama’s early political demise are his numerous, enormous vulnerabilities to further adverse developments, threatening a geometrically accelerating downward spiral, for him politically, and for America substantively.
Now and for the next six months, we will be enjoying the high point of the Obama economy, the tippy top of the Obamanomics, Keynesian, roller coaster. If Art Laffer’s Coming Crash of 2011 arrives next year, or if the economy just dips into another downturn, President Obama no longer enjoys the political base to survive it. With African Americans suffering Depression-level unemployment for over a year now, even that most solid of all political bases will weaken and waver in the face of a renewed downturn.
Under the President’s leadership, Congressional Democrats continue to pile more and more taxes on the investment necessary to create jobs and prosperity, “the most punitive tax rates on investment income since the late 1970s,” as The Wall Street Journal reported on May 27. Even before Obama and the New Left takeover of Washington, the top 1% of taxpayers were already paying more in income taxes than the bottom 95% combined, as the Tax Foundation has accurately reported based on official IRS data. But this is not enough for the Obamunistas, who are justifying still higher taxes saying the rich must pay their “fair share,” sort of like the last of the Romanov family had to pay their fair share.
This punitive tax piracy is already starting to cause capital flight from the U.S., which will accelerate into an outright capital jail break from America next year. That will only hasten a renewed downturn, cripple job creation, and restore rising unemployment. The American people will not endure mismanagement of the now two-year-old financial crisis into an extended depression.
Moreover, with the federal deficit already at a record smashing $1.6 trillion this year, a renewed recession next year will only cause it to soar further. How long can that go on before we arrive at Greece, where the markets refuse to buy the bonds necessary to finance the deficit, at least without soaring interest rates, which would only cause further economic decline.
Meanwhile, the Fed has long been busily creating new economic bubbles with its overly extended easy money and zero interest rate policies. Monetary policies so loose that they should be considered pornographic are creating new vulnerabilities for the President, which will arise as sudden surprises involving new dollar, interest rate or inflation scares. When the Fed finally decides it must pull back, it has laid the foundation for the bubbles to burst again, further inspiring economic downturn. Gold is already higher than the S&P 500. That is a blaring warning sign of trouble ahead.
Another blind spot for the President is energy policy itself. Those opposed to further offshore drilling need to end their hypocrisy and stop using the remaining oil and gas still available to the rest of us. Cap and tax is one of the biggest economic and political blunders in history just waiting to happen, a greater potential party builder for the Republicans than Abraham Lincoln and Teddy Roosevelt combined. The American people for once will be unified in coming together to get Democrats out of office so that the obvious, huge, fat, unnecessary, cap and tax cost sitting on top of the American economy can be removed. As the price of gas climbs over $4 a gallon due to that and to President Obama’s anti-production policies, the public riot demanding immediate change in leadership will surprise establishment Washington.
Adding to all of this are the grave vulnerabilities posed by Iran successfully developing nuclear weapons, and President Obama’s foreign policy weaknesses generally, which just invite war. Devilishly pursuing the opposite of every one of Reagan’s policies, instead of Peace Through Strength, Obama is inviting War Through Weakness. If Iran launches a bloody attack on Israel, open calls for his resignation will be widespread. If Iran uses a nuclear weapon in that attack, or in any other attack against American interests, the Obama Administration will be over politically.
The President himself has laid the foundation for his biggest political vulnerability of all. He won our votes and the election in 2008 with “the firm pledge” not to raise taxes “in any form” on anyone making less than $250,000 a year. Now he has already backed away from that pledge to the American people by creating a Presidential Deficit Commission, with “everything on the table,” including tax increases on working people in direct violation of the pledge. The much discussed Value Added Tax (VAT) could not be a more direct violation of the no tax increase pledge, increasing the prices of everything working families buy.
When the President directly violates the pledge that got him elected by openly endorsing such a tax increase, his resignation will immediately become a central political issue. The above problems and vulnerabilities will come together to increase the pressure for resignation to unbearable levels.
As Peggy Noonan suggested, the key will be the Democrats themselves (though she has never said a word about possible resignation). After suffering grievous losses in this year’s elections, they will have limited tolerance for the above described political pressures and chaos. With the very survival of their party at stake, the Democrats will buckle and desert President Obama, joining the calls for his resignation. At that point, with zero prospects for reelection, and unable to govern effectively, he will resign.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?