Saturday, March 7, 2009

Obama's Economic Suicide

Barack Obama is a Democrat, and like most Democrats, he just doesn't understand the realities of economics in a democracy. Unlike most Democrats, however, he seems hell bent on destroying the economic system we have now. Although the current system has a cold - a very bad cold - neo-fascist Obama intends to "cure" it with an amputation and a frontal lobotomy. Obama seems more comfortable with state-controlled economy than most Americans - or Europeans, for that matter - would be comfortable with. A few notable Europeans, however, who might have embraced Obama's approach to the economy: Lenin, Stalin, Hitler, Marx and Mussolini. Over in Asia, Mao and Ho Chi Minh might have found plenty to agree with, too. Michael Boskin writes that Obama's policies seem to be nothing less than the promotion of the pork he promised there would be no more of, earmarks he promised there would no more of, and compounding the damage to the bruised economy he promised to fix. Promises, promises. The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents - John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance - President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown. Boskin praises a handful of things that Obama is doing, such as "testing in agriculture and medical payments; permanent indexing of the alternative minimum tax and other tax reductions." That's not enough to satisfy Boskin, however: The specific problems, however, far outweigh the positives. First are the quite optimistic forecasts, despite the higher taxes and government micromanagement that will harm the economy. The budget projects a much shallower recession and stronger recovery than private forecasters or the nonpartisan Congressional Budget Office are projecting. It implies a vast amount of additional spending and higher taxes, above and beyond even these record levels. For example, it calls for a down payment on universal health care, with the additional "resources" needed "TBD" (to be determined). It's as though Obama's pretty campaign promises had no solid plans to back them up. From the poorly designed stimulus bill and vague new financial rescue plan, to the enormous expansion of government spending, taxes and debt somehow permanently strengthening economic growth, the assumptions underlying the president's economic program seem bereft of rigorous analysis and a careful reading of history. Perhaps Obama should read about all of the places and times in which socialism has failed miserably. A rigorous analysis and careful reading of history by Obama might benefit us all, but only if he can see through the fuzzy haze of his Liberal -Socialist-neo-Fascist ideology. RELATED: The Socialist Myth Why Socialism Failed Socialism Works! The Curse of India's Socialism Faster, Please! » We Are All Fascists Now The Socialism and Fascism of the New Deal OpEdNews - Capitalism, Fascism, and Socialism David-Barfield: The failure of socialism in Sweden The Swedish Model - Socialism, Education, and Failure United We Stand: Say Hello to SOCIALISM... really FASCISM! Marxism and the Failure of Organised Socialism in Spain, 1879–1936 Chicago News Bench RSS Feed Cool Stuff...