Must Block Dodds-Frank Bill, Kagen Nomination, Must stop Obama from regulating conservative campaign finance
Republicans can Win or Lose November Elections – THIS WEEK!
By JB Williams Sunday, June 27, 2010
There is only one time in U.S. history when the U.S. economy was in worse shape than it is today. It was 1946, when the national debt hit a whopping 121.25% of GDP.
When Democrat Franklin Delano Roosevelt (FDR) took office in 1933, the nation’s debt was only 39.96% of GDP. After twelve long years of FDR’s New Deal social spending spree that set the freest most powerful nation on earth on a pathway to democratic socialism, the national debt was 121.25% of GDP when Roosevelt left office.
Roosevelt’s New Democratic Socialist Deal drove the nation from $56.4 billion in debt to over $223 billion in debt, an over 400% increase in just twelve years. Barack Hussein Obama and the Democrat controlled congress have set a course to shatter that record in U.S. debt spending.
Obama & Co. have driven the nation from $10 trillion in debt upon taking office, to a whopping $14 trillion in debt, all in a very brief eighteen months. This figure does not include all of the future spending committed to by Obama & Co. for the next ten years, which will drive the nation from its current 97% debt to GDP ratio to over 150% of GDP in the next few years, even if they can manage to keep private sector profit pirates like George Soros investing in their march to full blown socialism.
This is what makes this statement from the administration so frightening!
“We are poised to pass the toughest financial reform since the ones we created in the aftermath of the Great Depression,” Obama said as he left for the Group of Eight and Group of 20 summits in Canada.
Obama & Co. are poised to dwarf FDR’s leap into democratic socialism with their so-called “financial reform” bill explained in Negotiators in Congress OK sweeping reform of big banks at Market Watch.
In the last eighteen months, Obama has used taxpayer money to purchase controlling interest in General Motors, force Chrysler into bankruptcy, buy out AIG and bailout numerous banks and financial institutions, all of whom found themselves in financial trouble due to prior Democrat economic policies.
That’s how they drove the U.S. debt from 69% of GDP when George W. Bush left office at the end of 2008, to 97% of GDP by the end of 2010. And if you follow the so-called “bailout” spending, you will find that it is not a “bailout” for anyone other than the labor unions, who give 99% of their billions to Democrats at election time.
The U.S. debt has not been paid off since 1835 under Andrew Jackson, making Jackson the last fiscally responsible Democrat in U.S. history. Bill Clinton was forced into fiscal sanity by a Republican congress in his second term, but that didn’t last long.
The U.S. has been in debt since 1837. But at no time in history was it in worse shape than in 1946 after twelve years of FDR’s social engineering efforts and every promise made under FDR’s New Deal has since been broken by members of congress who have systematically plundered the social programs for personal political gain.
Now Obama & Co. threaten to make FDR look like a fiscally conservative capitalist as they tighten the belt not on government spending, but on private sector capitalism, which is the goose that lays the golden egg of freedom. There is no freedom without economic freedom, aka free enterprise.
Even European nations are rushing to cut government spending. At the G20 meeting in Canada, Obama was the only national leader pushing for more government debt spending. Other G20 members rebuffed Obama’s demands for more “stimulus” spending.
In fact, most other nations are cutting public sector union jobs and shrinking social spending as fast as they can, recognizing that union labor has had the same suffocating effect on the public sector that it has had on the private sector for decades. Taxpayers cannot be held hostage by public sector labor unions without the public well running dry sooner or later.
To be certain, many Republicans have played their part in the ongoing bankrupting of the most productive and prosperous nation on earth.
However, if Republicans in congress fail to block Obama’s current power-grab over the entire economic system, nobody else can or will stop it, and there is no turning back later.
Republicans can win or lose the 2010 elections this week, when the House and Senate compromise bill designed to put the federal government even more in control of private banking and investment comes to a vote.
“Early this morning, the House and Senate reached an agreement on a set of Wall Street reforms that represents 90 percent of what I proposed when I took up this fight.” - Obama
Name ONE program that the federal government runs well? Just one…?
If you want to know who destroyed private health care coverage in America, read up on who invented the HMO… (Democrats) – If you want to know who destroyed the mortgage industry that led to the near collapse of our entire economy… read the Community Reinvestment Act and how Democrats forced good lenders to make bad loans in the name of “equality.” (Democrats)
Modern democratic socialists like Obama, Pelosi, Reid, Dodd, Frank and Clinton have destroyed private sector manufacturing, private lending, private investment, private health care coverage and fiscal responsibility in the USA. The international labor movement is directly responsible for destroying fiscal responsibility in many nations, now to include the U.S. But that’s who funds Democrat campaigns…
Their answer to the disasters they have created is to confiscate more control – create more regulations – spend more and tax more. Not even the socialist nations of Europe support Obama’s continued spend and collapse policies at this dangerous hour.
This is not hard people… We have been here before, when a Democrat promised to be all things to all people and pay for it from the public trough. Let’s be honest here… the utopia of communism sounds great to most people who believe that something for nothing actually exists on this planet.
However, no such thing exists. Everything costs something.
Federal freebies cost productive taxpayers money on the front end. But it costs the recipient their individual freedom and liberty in the end. Government dependents are NOT “free.” They are “enslaved” to their keeper.
Today’s Democrats do not seek to stimulate the private sector economy. Getting government out of the way is the only way to do that. Regulate and tax is the way to destroy what’s left of the private sector economy.
They do not seek to “free” the poor. They seek to enslave the poor, making them permanent federal dependents and thereby, reliable Democrat voters.
They do not seek to secure our borders, they seek more union employees and Democrat voters by way of amnesty for illegals and there is talk that Obama will issue amnesty by Executive Order, if need be.
They do not seek to win the war on terror abroad – they intend to bring that war to U.S. streets under their insane “tolerance” for the most intolerable things.
Obama has increased our public debt by 40% in less than two years and he wants to spend more. That spending has not avoided the inevitable day of reckoning – it has only kicked it down the road a few months while digging the hole deeper.
But the worst news is that unlike FDR’s financial disaster which drove the nation’s debt to 121.25% of GDP in 1946, but left America’s free-market economic tools necessary for producing our way out of that corner intact – the Obama administration is spending the nation even deeper in debt while systematically destroying the free-market economy needed to produce our way out of that corner.
In the last eighteen months, Obama has seized control of the following economic sectors…
- Auto Manufacturing
- Banking
- Investment
- Insurance
- Health Care
- Energy
- Mass Media
Obama is systematically eliminating the free-market private sector ability to produce our way out of the financial corner he is spending us into. They are “creating” more public sector union jobs. They cannot create even one private sector job, they can only destroy the private sector via regulation and taxation.
Public sector jobs are taxpayer funded, and thereby a drain on the private sector economy. Only private sector productivity can produce the nation out of debt. But Obama is shifting jobs from the private sector to the public sector, all of them under union bid only conditions. This too must end!
In addition, they have made a disaster of national sovereignty and security – made a mess of the military and the war effort abroad – made a mockery of United States supremacy and moral authority in a world that once revered America as the beacon of freedom, liberty and hope in the world. They are stacking the deck at the Supreme Court with far left judges who will rule against the people and the Constitution from their life-long appointments.
How much is enough? When will enough be enough? And when will Republicans grow a pair and take a stand for the productive taxpayers in the country?
In the old days, we could only predict the dangers of allowing democratic socialists to control the federal government. Now we can see those dangers as they play out day after day, in broad daylight, on more fronts than we can even keep track of…
As British Prime Minister Margaret Thatcher once put it, “Socialism is a great idea until you run out of other people’s money.”
Europe has reached their day of reckoning and they are in all-out austerity mode. Obama & Co. will drive the U.S. to that same end or worse, unless we the people find a way to stop them. The rest of the world is finally embracing free-market capitalism, as Obama & Co. do all they can to destroy it here in the so-called land of the free.
Congressional Republicans will have numerous opportunities to block all of it in upcoming legislative votes. Republicans should have a banner election cycle in November. They can secure that outcome by stepping up and representing the vast majority of Americans who oppose everything coming out of DC today.
But they could also seal their own demise by failing to do so.
Democratic Socialists have been trying to pass massive federal regulation of the private financial industry since Jimmy Carter tried and failed by only 25 votes back in 1976.
Republicans MUST block passage of the Dodd-Frank Financial Reform Bill – by whatever means necessary. Ironically, Dodd and Frank were directly responsible for the failure of Fanny and Freddie.
Millions of retirees can tell you all about how FDR’s “new deal” is working out for them today. They are scared that they will never see the money they paid into that system over the years and they are right to be scared.
So, to see where Obama is headed, we need look no further that where FDR took us years ago or where the European nations are today.
We are headed to national bankruptcy and economic collapse under Democratic Socialist rule folks. And only congressional Republicans can stop it.
They can win big in November if they do, but they will lose big in November if they don’t…
They must block all of the pending Obammunism bills beginning with the Dodd-Frank bill. They must stop Obama from stacking the Supreme Court bench with hardcore leftists. They must stop Obama from regulating conservative campaign finance while setting leftist campaign finance free in the so-called “Disclose Act.”
Republicans have their work cut out. But if they want to lead this nation come November, now’s their chance to show their stuff!
GO HERE to read more Articles by JB Williams.
