President Obama made no mention of the failure of automakers to put a million electric cars on the road by 2015 during his visit to Ford this week. (Cartoon courtesy Michael Ramierez, IBD)
Understanding that many of you may not have noticed, President Obama made stops in three states this week to do warm-up speeches in preparation for his State of the Union address, here are the low-lights.
Speaking at a Ford plant in Detroit, he again credited his steps to rescue the economy and rebuild it on a new foundation, stating that we are entering the New Year with new confidence that America is coming back.
“You don’t have to take my word for it. The facts are the facts,” he stated while touting his administration’s statistics on job creation and unemployment.
Missing, however, was his glowing vision of the electric car market. Could it be the reason that Ford and the other manufacturers have fallen far short of his goal of having a million of them on the road by 2015? Some 850,000 short.
Having “invested” $8 billion in taxpayer funds, the president quietly shelved his goal. The lower price of gas at the pump is sure to further reduce electric car sales.
In Phoenix to promote home ownership, he talked of plans to cut FHA insurance premiums on mortgages with low down payments.
Citing that getting a mortgage is too difficult for many Americans, the Obama administration seems to have a short memory of the 2008 mortgage-market meltdown caused by an emphasis on increasing mortgage availability. Its focus will be on improving access to credit for families that face tighter mortgage standards and sluggish wage growth.
Again, a government agency will be used as a public policy tool. It was just five years ago that former Rep. Barney Frank admitted that Fannie Mae and Freddie Mae were “public policy instruments of the government.”
Thankfully, there seems to be little support for this plan. Assuming the president can merely wave a wand and make this happen, Arizona Republic Opinions Editor Robert Leger called it a “nice gesture.”
Finally, in Tennessee on Friday, the president announced a $60 billion plan to provide for two years of community college, tuition-free for those willing to work for it. While details, including costs, are expected to be in the administration’s budget next month, it is expected to include a community service commitment.
When will this president run out of ways to spend taxpayer funds? 2016 for sure.
