Posted by
John Caile on Monday, November 30, 2009 10:49:26 AM
The way Obama and his policies have destroyed the economy, you might wonder if he and his team grasp even the most basic principals of business and finance. The answer would seem obvious: they don't.
But why? Simple, really - Obama has stacked his cabinet with a group of individuals possessing practially no experience in private industry - they have spent almost their entire lives in government. Nick Shultz of the American Enterprise Institute references a J.P. Morgan research report that compares the private sector experience of all the cabinets of U.S. Presidents since 1900:
http://blog.american.com/?p=7572
The results are illuminating. Not surprisingly, Republican administrations tend to have cabinets composed of people with more than 50% of their experience in business and finance, while Democrats were less likely - scoring, on average, in the 30% range. But Obama's cabinet is made up of people whose combined experience in the private sector is a dismal 8% - the lowest in history, and by a wide margin.
Instead of seasoned private sector veterans, Obama has surrounded himself with a bunch of political hacks and academics who have almost no understanding of what it takes to run a successful enterprise in the real world. They have never signed a paycheck. They have never had to make the hard decisions to keep costs under control. They have never been personally responsible for a budget. Heck, Obama could get better advice from Joe the Plumber than any of the socialist ideologues he relies on today.
But it's even worse. Not only has Obama selected advisers who lack the wisdom that can only come from private sector experience, he has hand picked some of the most anti-business, anti-capitalism, and anti-free market neo-Marxists ever to inhabit the White House. So of course they won't make sound economic decisions when it comes to America's capitalist, free market system.
And it doesn't stop at economics - Obama's highest legal official, Attorney General Eric Holder, is ideologically so far to the Left that he authorized the civilian trial of Islamic terrorist Khalid Sheikh Mohammed...in New York City of all places. But then, why wouldn't he? After all, Holder comes from a law firm with a history of defending...Islamic terrorists.
Polls indicate that more and more Americans are disappointed with Obama's mismanagement of the nation's economy, not to mention his lack of will in handling the Afghanistan war. And even many of those who voted for him are waking up to the fact that they were sold a bill of goods.
But the real question is: why is anyone surprised?