The 2010 Election was a Bloodless Coup d’état with misinformation the weapon of choice. One cannot help but get exhausted when otherwise nice people vote angrily because they believe they have got to stop President Obama from
• The government takeover of the banking system
• The government takeover of corporations
• The government takeover of healthcare
• Expanded budget deficits
The list goes on and on. Sadly Obama lost his governing majority in the US House of Representative based on what Fox News, Rush Limbaugh, Sean Hannity, Michael Savage, Bill O’Reilly, and a myriad of talking heads in the Right Wing media echo chamber preached. What is unfortunate is many leaders in the Christian Churches joined in on the false attacks on the President which must question either their credibility or gullibility.
The truth is the President continuing the implementation of the bailouts signed by President Bush was a choice made to maintain continuity in our economic system that would otherwise have caused the demise of the entire capitalist structure as we knew it.
I would have preferred said demise because the current capitalist structure is flawed in that it rewards the movers of capital over those who do an honest day’s work producing a service or product. We could have had a world economic reset where all those that traded financial instruments in a process tantamount to a Ponzi scheme would have felt the pain of their ill-doings while creating a real national bank that fed a real free enterprise system; profits for the innovator, no profits on the manipulation of money. That would have been the government takeover of the banking system. Instead both President Bush and subsequently President Obama kept the private banking system afloat.
The private sector has outsourced a large percentage of our manufacturing base. President Bush and then President Obama bailed out GM and Chrysler to maintain what is left of our manufacturing base. It turned out to be an excellent investment in people, their jobs, and keeping our auto manufacturing base. Had he let them fail, Ford’s suppliers would have failed effectively causing Ford to fail.
Healthcare Reform as opposed to taking our freedoms away, removes the chains of slavery corporations have on individuals by holding them hostage for corporate provided healthcare. Those not able to leave a company to form their own or innovate because they could not get insurance or affordable insurance can do so now. Those who have been rescinded, dropped, or prejudiced, can’t anymore. The misinformation on healthcare reform is an affront to the middle-class that shows a disdain for humanity.
President Obama did not blow the budget. Research shows there are four specific policies signed and/or supported by President Bush that did that; 2 unfunded wars, 2 unfunded tax cuts that mostly went to the top 2%, & an unfunded prescription drug program that totaled several trillion dollars. President Obama’s addition to the budget has mostly been the stimulus which was mostly tax cuts, support to the unemployed, and necessary investments. Every sane economist credits it for preventing a depression in the US. That said, for an economy as large as ours, it should have been twice the size. Two more years of large budget deficits to save an economy as was done during the Great Depression is warranted. It should be noted that the President’s deficit this year is less than the deficit left by President Bush.
If American citizens continue to allow themselves to be misled by the Right Wing there will be no hope for the middle-class. Their policies outsource middle-class jobs, reduce middle-class wages in America, weaken middle-class social safety nets like Social Security, Medicare, & Healthcare Insurance, weaken support for higher education, and weaken the infrastructure of our entire nation. Right Wing policies, specifically supply side economics has left the middle-class smaller and poorer while the upper 2% orders of magnitude wealthier. The numbers are absolute and available at reputable government websites. Willful ignorance materially affects one’s family, one’s financial security, and one’s country.
My Books: http://books.egbertowillies.com