Why doesn't Obama believe in Americanism?
In his speech in Osawatomie Kansas, Obama said:
"'The market will take care of everything,' they tell us. If we just cut more regulations and cut more taxes – especially for the wealthy – our economy will grow stronger. Sure, they say, there will be winners and losers. But if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. And, they argue, even if prosperity doesn't trickle down, well, that's the price of liberty.
Now, it's a simple theory. And we have to admit, it's one that speaks to our rugged individualism and our healthy skepticism of too much government. That's in America's DNA. And that theory fits well on a bumper sticker. But here's the problem: It doesn't work. It has never worked. It didn't work when it was tried in the decade before the Great Depression. It's not what led to the incredible postwar booms of the '50s and '60s. And it didn't work when we tried it during the last decade. I mean, understand, it's not as if we haven't tried this theory."
He doesn't think our Free Enterprise Capitalist system has worked...ever! He really believes that individual Americans are nothing without Federal Bureaucrats "protecting" them from themselves. I have never heard this kind of nonsense from any President in my entire lifetime.
bcnu 111- please look at the 17th paragraph in the speech. I cut and pasted the quote from the link you cite. That is exactly what he said and I quoted.
A lot of people don't seem to know what Americanism is.
Scott b - That is exactly what that quote means. How else can you interpret it?
hansblix222 - I am not defending that kind of government intervention, either.
Nomad - If that isn't the Free Enterprise System, how do you define the Free Enterprise System that isn't Supply Side? I would like to know since it began long before there even was a Federal Government.
Matthew D Rises - What are you saying? The quote is covers a lot more of a time frame than the 1980's and so do I. I go back to the Eisenhower administration. I have been a witness to a lot of the history you are being lied to about.
- L.T.M.Lv 79 years agoFavorite Answer
Pardon the caps but
IT'S NOT IN THE DNA OF THESE LEFTIES TO COMPREHEND WHAT YOU'RE TRYING TO POINT OUT !!!!
I see exactly what you see Jacob! The SOB is saying it wasn't rugged individualism that Built This Country.. It was BIG GOVERNMENT!
Obama can kiss my American A-S-S!
- ATJLv 69 years ago
OH the HYPOCRISY! Obama has been manipulating the market since 2008 and he has picked winners and losers let's put it at losers this class war fare will only back fire on Obama he is a President of speeches and no results! NO OBAMA IN 20012!!! This man has increased gov. bigger then any other president. He has increased the debt in 3 years 4 trillion dollars higher then any other president. He is making Bush look good and that is not hard at this point! Now voter fraud is a big problem for Obama he may be looking at impeachment because he did not qualified to be on the ballot so we have been subject to his B.S. for 3 years and that is disgusting in my eyes.
- NomadLv 79 years ago
Do you need some help with reading comprehension?
Here you go. A lesson.
"Now it's a simply theory." What is a simple theory? "Prosperity will eventually trickle down to everybody else." That's the simple theory. SUPPLY SIDE ECONOMICS is the simple theory. Not free enterprise capitalism.
Supply side economics does not work, never has worked, has no empirical evidence that it CAN work, and plenty of empirical evidence that exactly the opposite happens.
So there you go. There's your lesson.
- hansblix222Lv 79 years ago
That's your definition of Americanism, but that is not a refleciton of reality. Just look at the collusion of government and big business dating back to the 19th century. Did you know we have more poor people than any other industrialized country (as a percentage of the population)? That doesn't seem very "American" to me.
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- Anonymous9 years ago
America did not exist before the 1980's?
- scott bLv 79 years ago
I think you need to work on your listening and comprehension skills. Because that is NOT what that quote means.
- 9 years ago
Because you can't believe in something you hate.
Obama hates America. This makes it impossible for him to believe in American values.
- ?Lv 79 years ago
I don't know what you mean by "americanism". no such thing exists. its all man for himself. i don't pay your bills, you don't pay mine. its all about survival only
- 9 years ago
Who says we can’t afford infrastructure? Bond holders are begging us to keep their money safe at close to zero percent interest rate. Or we can buy bonds ourselves as we did in WW II. Or while computer keyboards still work, the money can be printed just as the Fed does it now for European banks.
With a 2.5 multiplier (see KeynesForum.com), $1T of annual infrastructure spending induces an additional $1.5T of annual consumer spending. That’s a total of $2.5T added annually to the GDP. Since the total tax burden for all levels of government is about 30% of GDP, $1T of annual infrastructure spending adds $0.75T to annual tax revenue, reducing the annual infrastructure deficit to $0.25T.
Also, $1T of annual infrastructure spending would employ ten million jobless workers, each drawing the equivalent of $25,000 in annual relief benefits of all kinds. The $0.25T annual savings on relief benefits would reduce the infrastructure deficit to zero. Infrastructure spending could be revenue-neutral!
But wait, there’s more! Because, on average, consumers’ savings amount to about 10% of their spending, consumers would bank about $0.15T annually. Since banks can lend over ten times their reserves, at least $1.5T of additional credit would be created annually. If business looked at an economy with ten million new workers and decided to invest 10% of the amount that government spends, the multiplier would effectively be increased by 10%. That would raise the annual tax revenue increase to $0.862T. Thus, spending $1T annually on infrastructure could be a net annual budget gain of $0.112T = $112B!
But wait, there’s more! If $1T of infrastructure lasting over thirty years produces a 1% annual productivity gain in a $15T GDP economy, that’s worth $0.150T annually. Thus, the total annual budget gain produced by $1T of annual infrastructure spending could reach $0.262T = $262B!
Deficit spending worked for Germany before WW II. Hitler took office in 1933 and ended Germany’s depression within two years by deficit spending on the autobahn, the Volkswagen, and television as well as on concentration camps and munitions factories. “Heil Hitler!” really meant “Thanks for the job!”
FDR also took office in 1933. With the same amount of deficit spending as he spent during WW II, FDR could also have built, in the period 1934-1938, interstate highways and modern railroads, airports and seaports, levees and dams, schools and hospitals, as well as munitions factories and arsenals. And within the same budget, he could have paid 16,000,000 youth to learn trades, engineering, and science for four years at free schools and universities instead of paying them to go to war.
What would have been the result?
The Great Depression would have ended by 1935. By 1938, the ratio of national debt to GDP would have been the same as it was at the end of WW II (120%) with the same post-war boom. Consumers would have had as much savings, enough to buy cars and homes and turn old farms into new suburbs. We would have been better set for the war and many of our dead heroes would have survived and returned to a far richer nation. Only the blind stupidity of the deficit hawks kept much of that dream from being real.
And despite high tax rates and annual budget deficits, post-war deficit spending on veterans’ education and housing, on the Marshall Plan, the Korean War, nuclear energy, the Interstate Highway System, NASA, Cold War rearmament, the Vietnam War, and proxy wars during 35 years produced such GDP growth that the debt ratio declined to 25% of its wartime peak. Deficit spending created our middle class.
Then Reagan doubled the debt ratio with tax cuts that put infrastructure spending on a starvation diet. (He also ripped Carter’s solar panels off the White House roof and defunded an experimental, thorium-based, nuclear energy plant that could have given us safe energy independence and avoided Bush’s wars.)
And these deficit hawks are still turning our dreams into a nightmare. See: http://www.keynesforum.com/
- bcnu111Lv 59 years ago
Everything that you wrote is false....here's what was said: