The View From 1776
Thursday, October 04, 2012
The Man Who Would Be God
Obama took office intending to out do the Great Depression’s New Dealers by remaking the whole of society and accelerating Franklin Roosevelt’s forcible redistribution of wealth. In the liberal-progressive-socialist world view, intellectuals and the nomenklatura usurp the place of our Creator God.
Obama is emulating the New Deal on two fronts. First, the torrent of new ideological environmental regulations augments Franklin Roosevelt’s drive to imprison the economy under regulatory control of collectivized, authoritarian government. FDR nationalized and socialized agriculture and yoked industry with the burden of socialistic industrial labor unions. Obama nationalized most of the domestic automobile industry, and his Treasury Department worked with the Federal Reserve to do the same with our banks. Obamacare submerges the healthcare industry, almost 20% of the entire economy, under control by Washington bureaucrats.
Second, Obama has duplicated FDR’s policies and rhetoric that demoralized businessmen and prolonged the Depression an additional eight years. Businessmen, continually threatened with higher tax rates, hammered by mounting EPA and other regulatory costs, and struggling with still unknown cost increases under Obamacare, have been fearful about increasing production and employment in the United States. Adding to uncertainty are skyrocketing Federal debt and devaluation of the dollar.
Both FDR and Obama continually bashed business, blaming “greedy” bankers and businessmen for the economic meltdown, continually threatening them with higher taxes and new regulations. Both men presided over enormous growth in the numbers and scope of economically strangling government bureaus. Both men oversaw massive devaluation of the dollar, leading to inflation that has wiped out more than 90% of the purchasing power of the dollar since 1933.
In Obama’s economic paradigm every improvement in people’s standard of living trickles down from government bureaucracy. Businesses are not built and new jobs created by the hard work and risk-taking of individual entrepreneurs. Government is the builder of wealth and economic production. Therefore, it is government’s prerogative to take wealth from successful business people and channel it to green energy disasters like Solyndra and to fund solidification of teachers’ union resistance to improving our educational system. This, in the lexicon of liberal-progressive-socialism, is called investment in America’s future.
This headlong, heedless rage to destroy individualism and to hammer society into a socialist coffin has left the nation’s only real producers - people who work for a living in jobs created by “greedy” businessmen - far worse off than when Obama took office. And their plight is worsening with each passing month. Median family income is down $4,520 (8%) under Obama’s hegemony. Adjusting for inflation, income for the middle 20% of families is lower than it was in 1995, almost 20 years ago. The government’s own Census Bureau reports that the number of people living in poverty has increased 6% since Obama’s election.
Vice President Joe Biden described the Obama record succinctly: the middle class has been buried the last four years under Democrat/Socialist Party control. That should come as no surprise. As Winston Churchill observed, the essence of socialism is making everybody equally poor.
Read How Obama and Biden Buried the Middle Class in the Fiscal Times website.