Did you catch the Dow yesterday? Not what you might call good. So, how's this economic recovery working for you folks?

Truth is, we may be about the fall off the edge of an economic cliff. We are roaring toward the precipice at 100 while Biden is touring the country trying to tell us we're well within the speed limit. It may well be that by the time the American people fully realize how dire our economic situation is .. and how bad it is going to get under Obama's policies .. it may well be too late.

We are approaching that point. Fast. Yesterday's 2.7% drop in the Dow Jones was just an indicator that we are not on a fast track to recovery. In fact, quite the opposite. While Joe Biden tours the country on a "Summer Recovery" tour, trying to convince you how the Obama administration saved us from disaster ... our economy is slowing. Businesses aren't hiring. And Democrats in Washington are poised to only make matters worse. The Royal Bank of Scotland is warning that the global economy is stalling out and that this could lead to a massive flooding of the money supply by the Federal Reserve in efforts to fight off a world-wide deflationary recession.

Meanwhile, Democrats are touting their financial reform bill as the savior for our economic future. Yeah ... we're going to save our economy with new regulations, taxes and fees. That's what we need. The real reason we're not adding jobs in the private sector is because private businesses are undertaxed and don't have enough government regulations to worry about .. right?

Private sector jobs don't mean all that much to Democrats. They're building the government-union sector .. and those people will vote for Democrats. That's the Democrat's key .. power. It doesn't really matter how this country looks .. just so long as Democrats are running things. These wonderful people ... the Barney Franks, Chris Dodds, Henry Waxmans, Nancy Pelosis, Barbara Boxers, and Charlie Rangels that we've given all this power ... they truly believe that more regulations and more taxes are actually going to save us. Rep. Paul Kajorski, a Democrat from Pennsylvania, says, "You know, I wish every one of them [Republicans] would ask the question and also the industry and media, what happens in this country if this bill fails? Do you think 236 points down on the Dow is surprising? Check 1,000 or 2,000 points if we fail to change the ways that caused this problem." See what I mean? These Democrats truly believe that they can legislate and regulate and spend our way out of this crisis.

Professor Tim Congdon of International Monetary Research says that financial reform bill runs the risk of repeating the same errors that were made in Japan and led to a decade of economic troubles - dangerously high debt levels coupled with government "stimulus" programs. Professor Congdon says that fiscal policy does not work in situations like we are facing. He says, "The US has just tried the biggest fiscal experiment in history and it has failed. What matters is the quantity of money and in extremis that can be increased easily by quantitative easing. If the Fed doesn't act, a double-dip recession is a virtual certainty."

In the meantime ... our incredible president is going to Wisconsin today to talk jobs. He will not propose lower taxes for small businessmen. He will not say that the Bush tax cuts should be retained. He will talk of the wonder of government. Wisconsin businessmen will not be impressed.