Obama and the Socialist 'Thing'
"Is Barack Obama a socialist?" is the question asked once again, this time by the liberal New Republic magazine. (Reporters asked John McCain that same question recently, and he cheekily replied, "I don't know.") It is a question I addressed some time back:
Such campaign season silliness aside, it is certainly true that Obama has chosen to pursue government solutions rather than market solutions to problems such as possible climate change, healthcare, Social Security solvency, income inequality, the trade deficit, and education. Compare those views with those of Bill Clinton, who cut capital gains taxes, pushed free trade, and floated the idea of having the government invest Social Security dough in the stock market.
Here is a great example of Obama's thinking: He wants to create something called a "Clean Technologies Venture Capital Fund" and invest $10 billion a year in emerging energy technologies. Now the private VC industry is already pouring billions into alternative energy, but Obama thinks that's not enough and wants Uncle Sam to get in on the action at taxpayer expense. Interestingly, a new study by the University of British Columbia looked at the performance of the Canadian government's venture capital efforts. It found that government venture capital isn't nearly as successful as private venture capital.
Bottom line: I continue to sum up Obama's views this way until someone shows me I'm wrong:
What is the economic philosophy of Democratic front-runner Barack Obama? I will elaborate on this later, but for now, think of it this way: He's Robert Rubin on trade (pretty much keep it open but help workers), Warren Buffett on taxes (higher rates really don't affect what rich folks do, so crank 'em up! ), and Robert Reich on spending (balance the budget later, "invest" now in education and science).
You also might want to check out this analysis of Obama's economic advisers in the Weekly Standard.
Tags: Barack Obama
Tools: 
Share
|
| Comments (22)
Reader Comments
Socialist all the way
You're absolutely right. What bothers me even more is when we call him a socialist (bordering on communism?), his followers are not bothered by that label.
We're treading a dangerous road if the majority of Americans believe that the government should control our lives.
A red quasi-muslim...
Election ‘08: Before friendly audiences, Barack Obama speaks passionately about something called “economic justice.” He uses the term obliquely, though, speaking in code — socialist code.
During his NAACP speech earlier this month, Sen. Obama repeated the term at least four times. “I’ve been working my entire adult life to help build an America where economic justice is being served,” he said at the group’s 99th annual convention in Cincinnati.
And as president, “we’ll ensure that economic justice is served,” he asserted. “That’s what this election is about.” Obama never spelled out the meaning of the term, but he didn’t have to. His audience knew what he meant, judging from its thumping approval.
It’s the rest of the public that remains in the dark, which is why we’re launching this special educational series.
“Economic justice” simply means punishing the successful and redistributing their wealth by government fiat. It’s a euphemism for socialism.
In the past, such rhetoric was just that — rhetoric. But Obama’s positioning himself with alarming stealth to put that rhetoric into action on a scale not seen since the birth of the welfare state.
In his latest memoir he shares that he’d like to “recast” the welfare net that FDR and LBJ cast while rolling back what he derisively calls the “winner-take-all” market economy that Ronald Reagan reignited (with record gains in living standards for all).
Obama also talks about “restoring fairness to the economy,” code for soaking the “rich” — a segment of society he fails to understand that includes mom-and-pop businesses filing individual tax returns.
http://www.investors.com/editorial/editorialcontent.asp?secid=1501&status=article&id=302137342405551
"Dangerous Road" lol
yeah the Republican way is obviously better, look at what great shape were in now!
Add your thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.advertisement
