Blog Archives

Obama’s campaign for class resentment

image

By Charles Krauthammer, Published: December 8

In the first month of his presidency, Barack Obama averred that if in three years he hadn’t alleviated the nation’s economic pain, he’d be a “one-term proposition.”

When three-quarters of Americans think the country is on the “wrong track” and even Bill Clinton calls the economy “lousy,” how then to run for a second term? Traveling Tuesday to Osawatomie, Kan., site of a famous 1910 Teddy Roosevelt speech, Obama laid out the case.

It seems that he and his policies have nothing to do with the current state of things. Sure, presidents are ordinarily held accountable for economic growth, unemployment, national indebtedness (see Obama, above). But not this time. Responsibility, you see, lies with the rich.

Or, as the philosophers of Zuccotti Park call them, the 1 percent. For Obama, these rich are the ones holding back the 99 percent. The “breathtaking greed of a few” is crushing the middle class. If only the rich paid their “fair share,” the middle class would have a chance. Otherwise, government won’t have enough funds to “invest” in education and innovation, the golden path to the sunny uplands of economic growth and opportunity.

Where to begin? A country spending twice as much per capita on education as it did in 1970 with zero effect on test scores is not underinvesting in education. It’s mis-investing. As for federally directed spending on innovation — like Solyndra? Ethanol? The preposterously subsidized, flammable Chevy Volt?

Our current economic distress is attributable to myriad causes: globalization, expensive high-tech medicine, a huge debt burden, a burst housing bubble largely driven by precisely the egalitarian impulse that Obama is promoting (government aggressively pushing “affordable housing” that turned out to be disastrously unaffordable), an aging population straining the social safety net. Yes, growing inequality is a problem throughout the Western world. But Obama’s pretense that it is the root cause of this sick economy is ridiculous.

As is his solution, that old perennial: selective abolition of the Bush tax cuts. As if all that ails us, all that keeps the economy from humming and the middle class from advancing, is a 4.6-point hike in marginal tax rates for the rich.

This, in a country $15 trillion in debt with out-of-control entitlements systematically starving every other national need. This obsession with a sock-it-to-the-rich tax hike that, at most, would have reduced this year’s deficit from $1.30 trillion to $1.22 trillion is the classic reflex of reactionary liberalism — anything to avoid addressing the underlying structural problems, which would require modernizing the totemic programs of the New Deal and Great Society.

As for those structural problems, Obama has spent three years on signature policies that either ignore or aggravate them:

●A massive stimulus, a gigantic payoff to Democratic interest groups (such as teachers, public-sector unions) that will add nearly $1 trillion to the national debt.

●A sweeping federally run reorganization of health care that (a) cost Congress a year, (b) created an entirely new entitlement in a nation hemorrhaging from unsustainable entitlements, (c) introduced new levels of uncertainty into an already stagnant economy.

●High-handed regulation, best exemplified by Obama’s failed cap-and-trade legislation, promptly followed by the Environmental Protection Agency trying to impose the same conventional-energy-killing agenda by administrative means.

Moreover, on the one issue that already enjoys a bipartisan consensus — the need for fundamental reform of a corrosive, corrupted tax code that misdirects capital and promotes unfairness — Obama did nothing, ignoring the recommendations of several bipartisan commissions, including his own.

In Kansas, Obama lamented that millions “are now forced to take their children to food banks.” You have to admire the audacity. That’s the kind of damning observation the opposition brings up when you’ve been in office three years. Yet Obama summoned it to make the case for his reelection!

Why? Because, you see, he bears no responsibility for the current economic distress. It’s the rich. And, like Horatius at the bridge, Obama stands with the American masses against the soulless plutocrats.

This is populism so crude that it channels not Teddy Roosevelt so much as Hugo Chavez. But with high unemployment, economic stagnation and unprecedented deficits, what else can Obama say?

He can’t run on stewardship. He can’t run on policy. His signature initiatives — the stimulus, Obamacare and the failed cap-and-trade — will go unmentioned in his campaign ads. Indeed, they will be the stuff of Republican ads.

What’s left? Class resentment. Got a better idea?

letters@charleskrauthammer.com

Source

Obama’s Anti-Capitalism Speech in Texas Kansas – Atlas Shrugs

 

Barack Obama

Obama’s Anti-Capitalism Speech in Texas Kansas – Atlas Shrugs.

Enhanced by Zemanta

Obama’s New Nationalism

image

by Conn Carroll Senior Editorial Writer

Today, in Osawatomie, Kansas, President Obama will invoke Teddy Roosevelt as a model for his 2012 reelection campaign. Over 100 years ago, after leaving the White House, Roosevelt delivered a seminal speech, titled “The New Nationalism,” which would become the foundation for the Progressive Party he would later create to challenge President Taft’s reelection. Obama plans to identify with those same progressive roots today as he calls for higher taxes on the rich and more government control of the economy.

At the White House press briefing yesterday, spokesman Jay Carney said Obama, “Thinks it’s an opportune time and an opportune location to try to put into broader perspective the kind of debates we’ve been having and the issues that are of vital importance to give middle-class Americans the kind of fair shot that they deserve.” Obama will no doubt echo Roosevelt’s call for a “equality of opportunity” and recycle the speech’s “square deal” rhetoric.

But while there are many parts of Roosevelt’s New Nationalism speech that will sound great to modern ears, there are also many passages that will grate on independent voters:

Combinations in industry are the result of an imperative economic law which cannot be repealed by political legislation. The effort at prohibiting all combination has substantially failed. The way out lies, not in attempting to prevent such combinations, but in completely controlling them in the interest of the public welfare.

This, I know, implies a policy of a far more active governmental interference with social and economic conditions in this country than we have yet had, but I think we have got to face the fact that such an increase in governmental control is now necessary.

These words are as radical today as they were 100 years ago. When text of Roosevelt’s New Nationalism reached New York, The New York Times called it “Roosevelt’s Super-Socialism.” Don’t count on that paper using a similar description of Obama’s speech today.

Source

Enhanced by Zemanta
%d bloggers like this: