OBAMA'S NATIONALIZING BEGINS
On a day when the Dow dropped to numbers not seen since 1997, another signal from the Obama Administration continued to create a total lack of confidence in the economic policy of Barack Obama. Last week Obama down played the nationalizing of the Nations banks yet news came of the largest banking group, Citigroup, bowing to a 40% take over by the government.
Citigroup chairman Richard Parson's was seen at The White House in the midst of leaks stating that his presence at 1600 Pennsylvania Avenue was to discuss the government take over of Citigroup to, "save," the struggling banking giant.
My fellow Americans is this move combined with the massive socialist spending bill and the housing bailout that rewards irresponsibility the beginning of the end of the capitalist free market that has made The United States economy the strongest and largest economy in the history of man ?
In his brief 33 days in office Obama has already grown the federal government more than FDR did through the New Deal. Obama is speaking out of both sides of his mouth calling for government fiscal responsibility while creating the most irresponsible massive spending in history. Talking of shrinking the deficit, while enlarging it more than any previous administration.
Telling reporters that it is important for the Nations banks to remain privately held entities while discussing the take over of Citigroup and key members of his administration in the Treasury Department and the Federal Reserve are talking about the necessity of government take over to save the Nations banks.
He has sent his Secretary of State , Hillary Clinton to China to beg the Chinese to continue buying US Bonds in order to finance the socialist spending already passed. But Hillary's plea was not for just the present. She begged the Chinese on behalf of Obama to, "continue," buying bonds which signals that the 789 billion dollar pork bill will be followed by more.
Obama now claims that while the economy will continue struggle through 2009, 2010 will begin the recovery. Yet nothing that the administration is doing will allow the growth of business or personal income which includes plans to eliminate the Bush tax cuts which will in actuality be a tax increase for every working American. This will combine with further tax increases to pay for Obama's spending.
The economic moves do not and will not promote recovery because they stifle business, hiring, individual prosperity because of lack of incentive to earn more as taxes will take the increased earnings away. Investment is dying as evidenced by the Dow loses and nothing Obama is doing or plans to do inspires investors to invest.
How then can our economy grow or recover ? That answer is that it cannot which in the final analysis is the goal of the Obama agenda . The less recovery the more entities like Citigroup that will bow to government take over through nationalization. Obama's America is not the America of our Founders nor the America described in the Constitution.
Our Constitution has been used by many countries as the example in which many have been formed, including countries whose leaders have become despot and dictators. Using the Constitution patterned after ours as only a document to dupe the masses into thinking that they like America might be free. Obama is quickly turning our own Constitution into a document that no longer represents the country he is creating. Our freedoms are dying and only a few are yelling stop !
Ken Taylor
Citigroup chairman Richard Parson's was seen at The White House in the midst of leaks stating that his presence at 1600 Pennsylvania Avenue was to discuss the government take over of Citigroup to, "save," the struggling banking giant.
My fellow Americans is this move combined with the massive socialist spending bill and the housing bailout that rewards irresponsibility the beginning of the end of the capitalist free market that has made The United States economy the strongest and largest economy in the history of man ?
In his brief 33 days in office Obama has already grown the federal government more than FDR did through the New Deal. Obama is speaking out of both sides of his mouth calling for government fiscal responsibility while creating the most irresponsible massive spending in history. Talking of shrinking the deficit, while enlarging it more than any previous administration.
Telling reporters that it is important for the Nations banks to remain privately held entities while discussing the take over of Citigroup and key members of his administration in the Treasury Department and the Federal Reserve are talking about the necessity of government take over to save the Nations banks.
He has sent his Secretary of State , Hillary Clinton to China to beg the Chinese to continue buying US Bonds in order to finance the socialist spending already passed. But Hillary's plea was not for just the present. She begged the Chinese on behalf of Obama to, "continue," buying bonds which signals that the 789 billion dollar pork bill will be followed by more.
Obama now claims that while the economy will continue struggle through 2009, 2010 will begin the recovery. Yet nothing that the administration is doing will allow the growth of business or personal income which includes plans to eliminate the Bush tax cuts which will in actuality be a tax increase for every working American. This will combine with further tax increases to pay for Obama's spending.
The economic moves do not and will not promote recovery because they stifle business, hiring, individual prosperity because of lack of incentive to earn more as taxes will take the increased earnings away. Investment is dying as evidenced by the Dow loses and nothing Obama is doing or plans to do inspires investors to invest.
How then can our economy grow or recover ? That answer is that it cannot which in the final analysis is the goal of the Obama agenda . The less recovery the more entities like Citigroup that will bow to government take over through nationalization. Obama's America is not the America of our Founders nor the America described in the Constitution.
Our Constitution has been used by many countries as the example in which many have been formed, including countries whose leaders have become despot and dictators. Using the Constitution patterned after ours as only a document to dupe the masses into thinking that they like America might be free. Obama is quickly turning our own Constitution into a document that no longer represents the country he is creating. Our freedoms are dying and only a few are yelling stop !
Ken Taylor
posted by The Liberal Lie The Conservative Truth | 12:02 AM
2 Comments:
Great continuation on your piece...
NRO:
http://is.gd/kK4L
Do you think Obama wants to take over Citi? Citi is insolvent and without government intervention there is no Citi.
What pork do you find in the Stimulus Bill? Keep in mind that stimulus is by its definition spending - so what? About a third of the $800B is in the form of tax cuts for middle class folks. For ever taxpayer making less than $75K, there is a $400 tax cut. For households under $150K there is an $800 cut. There is a provision to make sales tax on new car purchases tax deductible. That means on a $30K car here in MD, I could get back $1800. There is a $2500 tax break for education expenses. What isn't in the bill is more tax breaks for Big Oil or super wealthy folks.
On the spending side the money goes toward shovel-ready projects. $50 billion goes toward energy grid improvements and upgrades. $25 billion goes toward repairing schools. This type of spending not only creates American jobs but it is an investment in America that will pay dividends for decades.
Our freedoms aren't dying. That is just silly. What freedom have you lost or are you at risk of losing?
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