You are here

Change Must Wait


Investment guru and entertaining TV hothead Jim Cramer appears to have joined Rush Limbaugh on the Failed Obama Administration’s enemies list. Cramer, on his Monday show, told viewers that Barry’s budget, “is the most, greatest wealth destruction I’ve seen by a president.”

Administration mouthpiece Robert Gibbs responded:

When asked about Cramer’s comments yesterday, Gibbs questioned Cramer’s credibility.

“I’m not entirely sure what he’s pointing to to make some of the statements. I think you can go back and look at any number of statements that he’s made in the past about the economy and where some of the backup for those are, too,” he said.

As for Cramer’s influence, Gibbs said his program is “geared to a very small audience.”

“No offense to my good friends, or friend at CNBC,” he said. “But the President has to look out for the broader economy and the broader population.”

Today, Cramer shot back:

How much I wish it were true right now that stocks played less of a role in peoples' lives. But stocks, along with housing, are our principal forms of wealth in this country. Only the people who have lifetime tenure, insured solid pensions and rent homes but own no stocks personally are unaffected. Sure that's a lot of people, but believe me, they aspire to have homes and portfolios. If we only want to help those who have no wealth to destroy, we are not helping the majority of Americans; we are not helping the broader population.

You should really read the whole thing. And if you know a Democrat, print out this bit and glue it to the inside of their eyelids:

To be totally out of the closet, I actually embrace every part of Obama's agenda, right down to the increase on personal taxes and the mortgage deduction. I am a fierce environmentalist who has donated multiple acres to the state of New Jersey to keep forever wild. I believe in cap and trade. I favor playing hardball with drug companies that hold up the U.S. government with me-too products.

But these are issues that we have no time for now, on the verge of a second Great Depression. This is an agenda that must be held back for better times. It is an agenda that at this moment is radical vs. what is called for. I am proud to have voted for the Obama who I thought understood the need to get us on the right path, and create jobs and wealth before taxing it and making moves that hurt job creation -- certainly ones that will outweigh the meager number of jobs he's creating.

Most important, I believe his agenda is crushing nest eggs around the nation in loud ways, like the decline in the averages, and in soft but dangerous ways, like in the annuities that can't be paid and the insurance benefits that will be challenging to deliver on.