A Commentary by Dick Morris
How did Obama ever think that his program would pass constitutional muster? How could he imagine that the Interstate Commerce clause could cover something that wasn't interstate (health insurance cannot be sold over state lines) and wasn't commerce (failure to buy insurance is not commerce) would stand up in court? He was so sure that he would win any constitutional challenge that he arrogantly failed to put a severability clause in the bill so that it would survive even if parts were stricken down.
The decision of the Florida District Court may or may not prevail in the Circuit Court. But who can doubt that the Supreme Court, as currently constituted, will strike it down?
So where does this leave President Obama? His stimulus package was a disaster, conceded by all to have failed. Democrats, of course, ascribe its failure to its puny size (only $800 billion)! Republicans understand that when the government spends and borrows it destroys jobs rather than create them. But, obviously, the stimulus bill didn't work.
And now his health care bill is unconstitutional.
What happens to an arch when it loses its cornerstone? It collapses. The same fate awaits Obama in 2012.
Meanwhile, he continues to peddle the fiction that "we have broken the back of the recession." His bureaucracy puts out a GDP growth rate of 3.4 percent for the fourth quarter. Baloney. The price deflator he used to discount the impact of inflation on the supposed GDP growth was a ridiculous 0.3 percent for the fourth quarter. But the Consumer Price Index rose by 2.6 percent in the same quarter. Almost all of the GDP growth is just rising prices, not a recovering economy.
And half of the new economic activity is just the build-up of inventories. We are now a nation of inventories. Businesses are sitting on close to a trillion dollars of cash they are afraid to invest. Banks are awash in capital handed out by the Fed as it tries to force-feed the economy by printing money. And consumers have taken the stimulus money and put it into reducing their debt load - good for them but not for the economy. Household debt has dropped by $200 billion in the past two years.
But nobody is spending. Nobody is buying.
Obama's economic program is in ruins. His healthcare bill is unconstitutional. His financial regulation bill (Dodd-Frank) has so harassed small and community banks that they have stopped lending to small businesses. And, on top of all that, he is losing Egypt to radical Muslim fundamentalists.
What a presidency!
Views expressed in this column are those of the author, not those of Rasmussen Reports. Comments about this content should be directed to the author or syndicate.
See Other Commentary by Dick Morris
See Other Political Commentary
***COPYRIGHT EILEEN MCGANN AND DICK MORRIS 2011. REPRINTS WITH PERMISSION ONLY***
Rasmussen Reports is a media company specializing in the collection, publication and distribution of public opinion information.
We conduct public opinion polls on a variety of topics to inform our audience on events in the news and other topics of interest. To ensure editorial control and independence, we pay for the polls ourselves and generate revenue through the sale of subscriptions, sponsorships, and advertising. Nightly polling on politics, business and lifestyle topics provides the content to update the Rasmussen Reports web site many times each day. If it's in the news, it's in our polls. Additionally, the data drives a daily update newsletter and various media outlets across the country.
Some information, including the Rasmussen Reports daily Presidential Tracking Poll and commentaries are available for free to the general public. Subscriptions are available for $4.95 a month or 34.95 a year that provide subscribers with exclusive access to more than 20 stories per week on upcoming elections, consumer confidence, and issues that affect us all. For those who are really into the numbers, Platinum Members can review demographic crosstabs and a full history of our data.
To learn more about our methodology, click here.