Translating Today's Fed Statement: Recovery impossible until President Subprime McDowngrade is voted out of office

I'm paraphrasing, but only just:

To promote the ongoing economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent. The Committee currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013.

Now, what major economic changes would have taken place by "mid-2013" to allow for higher growth rates?



With any luck, a new President will have assumed office in January. He or she will have have begun unwinding the huge regulatory bureaucracies (the EPA and the NLRB foremost among them) that have destroyed businesses large and small; rescinding the ability for federal employees to unionize; defunding HHS to begin the eradication of Obamacare; begun implementing sensible spending policies like Cut, Cap & Balance; etc.



In other words, the new President will take his job seriously, unlike our current demagogue-in-chief who seems to do little more than fundraise, read from a teleprompter, party and golf.



Does Obama's schedule -- at right -- strike you as that of a man with a care in the world, apart from getting reelected?