Saturday, August 22, 2009
Obama Wrecking Our Economy And Free-market System
Economics piece by
Gordon Bishop
Why is Barack Obama working overtime to damage our economy and our free-market system—and with it, the present and future of well-being hundreds of millions of Americans?
Is it because he has never said “I am a Citizen of America?”
Whenever he travels abroad, he always criticizes the United States of America.
The socialists in Europe open their arms to Obama because he is one of them. He wants to be President of America so he can “change” our country into a Socialist Nation State.
That’s bad news for a country that encourages entrepreneurship—and, of course, Capitalism.
“Capitalism,” in Obama’s Isllamic world, is evil.
Yet America is the land of Freedom and Liberty and Opportunity! Foreigners love to come to America.
But I don’t see American citizens abandoning the USA and migrating to socialist countries.
Obama was raised in Indonesia, a Muslim country.
Obama believes in “Redistribution of Income.” That’s what Marxism is all about: “Spreading the Wealth” is what Obama told ‘Joe the Plumber’ in Oregon when the black African Arab was campaigning to take over the White House.
Obama won the election because the liberal media supported—and finally elected —“their Man!”
What a disastrous mistake!
We have had other presidents who inflicted harm on our economy—Jimmy Carter’s ‘stagflation and Franklin D. Roosevelt’s vast increase in the power of the federal government over the economy, being the two most notable,” according to Dr. Edwin J. Feulner, President of conservatuve The Heritage Foundation.
“But nothing Carter or Roosevelt did or attempted could hold a candle to what President Obama has in store for us—if we don’t stop him,” the Heritage leadership warns.
Here’s only a handful of what awaits our nation’s working taxpayers:
- Deficits. Obama and his liberal supporters in Congress are spending at levels not seen since World War II. Under President Obama, the budget deficit is set to reach a staggering $1.8 trillion this year, with further deficits average around $1 trillion a year for the next decade. And those figures don’t count the estimated cost of his health care plan—another trillion over the next decade.
- Nationalizing vast sectors of the economy. He is turning our free-market economic system upside down by nationalizing as many industries as he get his hands on, beginning with the banks, continuing with the auto companies and his attempt to take over the health care system....and ending up what knows where?
-Abusing the law to give preference to a favored constituency. In the Chrysler bailout and bankruptcy, the Obama administration gave the United Auto Workers (a liberal union) a far larger share of the settlement than the secured creditors, who, by law, are entitled to be compensated first. (The liberal Democrat Party owns the unions!) The powerful UAW also received 55 percent of the company. The mistreated creditors include retirees who depend on their pension funds, workers investing in retirement funds, and many other ordinary people who followed the rules.
-Czars. Obama has appointed over 24 “czars (remember the Russian Revolution?), including a Pay Czar, an Auto Recovery Czar, a Green Jobs Czar, and a Bailout Czar—and he’s not done yet. Unlike cabinet secretaries, zards don’t have to be confirmed by Congress. They are accountable to no one except the President himself. This loose cannon has made himself accountable to no one. He is the MASTER CZAR—or DICTATOR!
-Crony capitalism. Our economic system is supposed to operate on the idea that the best products and services will win out in the marketplace. It’s become corrupted over the years, with an army of lobbyists seeking special favors, government over-regulation that distorts the market, and many other problems.
But the kind of cronyism that we’re seeing now beats anything we’ve known—because the rewards are greater, and the Obama administration and the liberals in Congress are more brazen.
Take the way giant companies like General Electric, Alcoa and DuPont are embracing the costly “cap-and-trade schemes of the Left. A watchdog group found that more than 880 businesses and interest groups registered to lobby on climate change in the first quarter of 2009.
Global warning is not yet a scientific fact. It’s still a theory being worked on by the bureaucrats in the cubicles of the extremely politicized Washington, D.C.
Why? Because the details of the legislation will enable some companies to make boatloads of money—and these will be companies with the most clout. Enrtrepreneurs with better ideas can forget about it --- it’s political influence rather than a better product that counts in this corrupt system.
These things will lead to an ever-more sluggish economy, higher unemployment, big tax increases, more corruption, less reward for merit, more regulation—in sum, the end of the free, vibrant economy we have known with it vast opportunity, mobility and prosperity.
All of this can be reduced to one, ugly word: COMMUNISM!
Gordon Bishop
HowardWasRight 
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