Tuesday, September 22, 2009

The Further Stupidity of Mr. Obama

Overshadowed by his appearance on every single Sunday morning show and Late Night with David Letterman, Obama gave an interview last week with Bloomberg News that reveals a very startling position that his administration may be taking regarding the continuing economic crisis.

“Why is it,” [Obama] asked, “that we’re going to cap executive compensation for Wall Street bankers but not Silicon Valley entrepreneurs or N.F.L. football players?”

Now at first this may seem like a rather innocuous statement made on the topic of capping executive pay compensation, and that is most likely why this received such little play in the MSM. But here is what I believe this statements means for further discussions and policies regarding our economy.

Obama was asked why he was being so tepid on demanding executive pay compensation and he replied with that statement. Which to me means one of two things:

A. Fixing our economic crisis is a black and white issue, to Obama it is either everyone's fault or no one's fault. Why blame the people who caused the problem (the bankers). You can't just punish the execs, so he wont punish anyone or fix any specific industry that may or may not have caused the collapse.

B. On the flip side of this is to actually blame everyone and begin down a path of mandating by law a cap on the salary of leaders of every industry in America, hence his comment about NFL players and Silicon Valley businessmen.

Now where this goes from a scary slope towards punishing business across the country to a remark of sheer stupidity is who he chose to single out in his comment. Silicon Valley Entrepreneurs helped invent the technology that runs our world today. They have created millions of jobs and an economic sector that generally speaking has been nothing short of outstanding since the industry began a few decades ago. How could you even think that Silicon Valley had anything to do with our current economic slump?

Furthermore he targets the NFL, how dare we cap bankers pay if we don't cap the pay of professional American Football players. The stupidity here is the simple fact that we do cap the pay of NFL players. In fact the NFL, NBA and NHL all have salary caps for players and teams. So on this remark Obama has just once more proven that he actually knows less about professional sports in America than he does about a global economy and how to fix it.

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