Slowly but surely, Pres BO is disappointing those who voted for him.
He will disappoint them again because two more campaign promises are about to meet reality.
First, The Bush tax cuts expire on January 1, 2011.
The net effect will be a massive increase on people who pay taxes and the investment class.
Common sense 101: Why would anyone increase taxes in the middle of a recession potentially turning into another recession?
Professor Allan Meltzer wrote a very sharp critique of BO-economics: "Why Obamanomics Has Failed----Uncertainty about future taxes and regulations is enemy No. 1 of economic growth."
This is true. Businessmen all over are unsure about the future. Nobody knows about the tax or regulation situation pending.
Pres BO needs to extend them or face huge tax increases!
Second, on Afghanistan, Pres BO started out on both sides----fight the war and promise a deadline!
Michael Goodwin adds this:
"Our troops need to know, and so do our allies and enemies. We the people also deserve a clear answer."
So what's next?
Pres BO needs to break more "yes we can hearts" and walk away from two promises, the Bush tax cuts and the Afghanistan deadline.
On both issues, Pres BO is hostage to some rather silly campaign promises.
During the campaign, candidate BO spoke about how Bush cut taxes for the rich.
He forgot to say that Bush gave tax cuts to people who actually pay taxes and the investor class so vital to spark an economic recovery.
On Afghanistan, he is now caught between the "yes we can screamers" and Gen Petraeus.
Expect more disappointment from the land of "yes we can" fantasies!
P.S. On Tuesday, I spoke with Mario Yngerto about the economy and the Bush tax cuts:
