Despite the obviously insincere rhetoric he will sometimes dutifully recite at fundraisers, the first red diaper baby to grow up to be president has faithfully pursued the Marxist ideology of the Occupy Wall Street movement. Obama has been at war with economic freedom:
The former community organizer had just entered office when, in the summer of 2009, the federal government gave General Motors $49.5 billion in aid, including a $6.7 billion loan, to finance its bankruptcy. The result: Washington, not private shareholders, took roughly 61% ownership of GM.
The bailout wasn’t to save capitalism; it was a payback to the United Auto Workers union that gave Obama and his party more than $4 million. The UAW’s pension fund was given 17.5% of the new GM, worth about $7 billion.
GM wasn’t Obama’s only trophy. Chrysler was bailed out in 2009 as well, receiving $30 billion from Washington. Once again, the UAW was rewarded, this time with a 55% share of the company. In both bailouts, those with nonunion financial interests in the companies, from bondholders to creditors, received third-class treatment.
While it’s comforting to think the bailouts ended with GM and Chrysler, Obama has ominously said, “What’s happening in Detroit can happen in other industries.”
And it will, if Obama gets another four years to wreak havoc.
Obama has continued his capitalism-wrecking, union-favoring campaign by naming members to the National Labor Relations Board who tried to block Boeing from opening a plant in South Carolina to build the company’s 787 Dreamliner.
The NLRB accused Boeing of locating in a right-to-work state as a reprisal against union workers who organized strikes at the company’s Washington plant — one of which delayed production of the long-awaited 787 and cost the company $1.8 billion.
Calvin Coolidge, who presided over a period of burgeoning prosperity, famously said, “The business of America is business.” Comrade Obama’s other attacks on it include:
• Trying to put private insurers out of business and taking over one-seventh of the economy through ObamaCare.
• Seizing, in effect, the bank industry and nationalizing the student loan program.
• Blocking the Keystone XL pipeline.
• Delaying approval of the South Korea, Colombia and Panama trade deals.
• The sharp spike in costly regulations.
• His hope of hiking the tax burdens on oil companies by stripping them of the same tax breaks available to all industries.
As early as his first State of the Union address, the Manchurian Moonbat alerted Lawrence Kudlow that he had declared “war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.”
In 2008, voters picked a pig in a poke. This time, the choice is clear: socialism and poverty, or freedom and wealth. That Obama even dares put his name on the ballot is an alarming indication of how liberalism has corroded not only our national character but our sanity.
Graphic and tip compliments of Zappatrust.