America's Leadership Crisis
Published: August 14, 2011 at 11:59 am
Neil Cavuto, the senior vice president of Business News and host of "Your World With Neil Cavuto," was asked yesterday morning, why the stock market kept going up and down so drastically this week.
Neil replied, “Well it’s a volatile market, to put it mildly, but they are really seizing on good and bad news and the confluence of stuff over the last couple of weeks has been largely bad."
When asked why consumers are so nervous, Neil replied, “Part of it is the growing frustration and anger, showing up in one poll after another, over the lack of confidence in our leaders.”
Such is the status of our nation right now. We are suffering from a lack of leadership.
In the Thompson Reuters/University of Michigan survey on consumer sentiment, director Richard Curtin said, "Never before in the history of the surveys have so many consumers spontaneously mentioned the negative aspects of the government's role."
An example of the negative aspects of the government's role in interfering with America's economy is the moratorium on oil drilling.The effect of the Obama policy of an oil drilling moratorium cost thousands of jobs and billions of dollars.
"Economic uncertainty and protracted unemployment continue to impact consumer spending decisions against all categories," said Todd Hooper, a Kurt Salmon restaurant industry analyst.
Yet Ben Bernanke said that uncertainty itself is bedeviling the economy. But, Americans are stressed over the lack of jobs, the decline in the value of their homes and IRA's, and they are worried for the future of their chidren. Uncertainty is therefore a symptom, but there is no mistaking the reality that the problem bedeviling our economy is lack of leadership in Washington.
President Obama said yesterday that Congress needs to do more to address the countries economic problems when lawmakers return next month from the annual August recess.
If that is true, then why doesn't the President recall lawmakers from the August recess right now and put a plan on the table to fix this economy? The President is one of the three branches of government, and the executive branch at that. This is no time for him to shirk his responsibilities as President of the United States.Continued on the next page