The View From 1776
Tuesday, September 15, 2009
Obama: The Latest Edition of the Liberal-Progressive-Socialist Messiah
Garet Garrett’s summary of American history from World War I to the end of World War II sounds very familiar to us, because we a reliving that period’s socialist irruptions.
Garet Garrett, who died in 1954, was a widely published journalist and author in the 1920s through the 1950s. His description, particularly of the New Deal under President Franklin Roosevelt, sounds eerily similar to political and economic events in the United States since the beginning of the year 2009. His depiction of academia remains fully applicable to the materialistic ideology purveyed in today’s colleges and universities.
Mr. Garrett spotlights the Employment Act of 1946 and the mandates it gave to Big Brother to manage the totality of the American economy. What he doesn’t identify specifically is the Federal Reserve’s role conferred by the 1946 Act.
Just as in the 1920s, leading up to the Great Depression, again in the 1980s, and in the 1990s (dot.com boom), the 2007 financial markets meltdown was a product of the Fed’s application of Keynesian economics. That statist doctrine leads to flooding the market with too much money, artificially driving up prices in some sectors of the economy and causing disastrous misallocations of economic resources. In its latest round of destructive conduct, the Fed was closely aided and abetted by Congress with enactments such as the Community Reinvestment Act and its directives to Fannie Mae and Freddie Mac to pump billions of dollars into the hands of uncreditworthy home buyers.
The Democrat/Socialist Party, still worshipping the French version of the Goddess Reason, devoutly believes that any measures to undermine capitalistic individuality and Judeo-Christian morality will benefit humanity. Chief among its knee-jerk actions to that end is running the printing presses to pour money into the economy, on the theory that economic prosperity is created by the government, not by private businessmen.
Theoretically, President Obama’s stimulus program was to have reduced unemployment to less than 8% of the work force by now. Instead we have official unemployment at just under 10%, with more comprehensive measures, that include people who have given up seeking jobs, running at more than 16% of the labor force.
Mr. Garrett’s message from the 1950s remains dead on target for us today as we find ourselves again facing a socialist takeover of the nation under the malign administration of Barack Obama. As individuals, we must save our money and defer consumption spending that can’t be financed from current income or savings. We must refuse to spend a fortune sending our children to socialist training academies (which includes almost all of the well known colleges and universities), instead letting them go to work and themselves pay for night classes at local community colleges.
Above all we must get the Federal government entirely out of funding any part of public education, leaving it instead to local governments. Places like New York City, Los angeles, and San Francisco will, of course, remain bastions of socialism, but there is no reason why taxpayers elsewhere in the nation should be compelled to finance their propagation of the socialist religion.