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Obama's Radicalism Is Killing the Dow
Wall Street Journal ^ | 3/5/09 | Michael Boskin

Posted on 03/05/2009 9:28:59 PM PST by pissant

t's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown.

Mr. Obama's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined. It reduces defense spending to a level not sustained since the dangerous days before World War II, while increasing nondefense spending (relative to GDP) to the highest level in U.S. history. And it would raise taxes to historically high levels (again, relative to GDP). And all of this before addressing the impending explosion in Social Security and Medicare costs.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: bho44; bhodjia; dowjones; economy; first100days; jonestown; larrysinclairslover; obama; obamabots; obamatrons; wallstreet
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To: Lazamataz

Respectfully I dearly hope you’re wrong.

51 posted on 03/06/2009 8:49:52 AM PST by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: pissant

0 isn’t just after the Dow.

He’d like to kill the Constitution too.

52 posted on 03/06/2009 8:56:57 AM PST by mojito
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To: mojito

and capitalism

and God’s natural laws on which it is based.

53 posted on 03/06/2009 8:57:35 AM PST by MrB (The 0bamanation: Marxism, Infanticide, Appeasement, Depression, Thuggery, and Censorship)
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To: MrB
Time for my daily commercial: save more, spend less.

Hussein wishes to implement a 3-part takeover of the US economy:
1. Own the FIRE means of production (finance ie banks [Citi], insurance [AIG] & real estate [Fannie/Freddie])
2. Regulate/dispense/control health care
3. Direct/manage economy via energy (cap & trade)

These initiatives will only be successful if the Kenyan has sufficient tax revenues and adequate access to credit (Treasuries) to pay for his grandiose schemes.

Purposely slowing down the economy through a concerted effort to save more & spend less will help crater tax receipts. With falling revenues, -0- will be forced to borrow more to make up the shortfalls.

Escalating demand for debt (increased risk = increased prices of debt & higher interest rates), and a dawning realization that invested funds will not contribute to increased imports (Chinese perspective), will serve to detonate the bond market and dry up his ability to loan money.

No taxes and no Treasuries means the shiftless punk from ChiTown will be sh!t out of luck trying to take over our country. Wake up and get with the program. It's not really an option - we're literally in a fight for our lives. If we help breathe new life into the economy, we're merely funding the agents of our oppression.

54 posted on 03/06/2009 9:07:57 AM PST by semantic
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To: monkeyshine
I don't know how we are going to survive this. You described our situtation. What a mess. And the baby boomers who never grew up, still live in the late 60's and early 70's, swallowed the liquid kool aid without question and still drink from the same cup.

The other baby boomers, well, we recognize them and deeply resent their anti-American, drive to destroy our culture, our spirit and our faith in an attempt to replace it with their version of communism.

In my dreams, I would wish them all ten years in Cuba, or Venezuela and no means of escape.

55 posted on 03/07/2009 10:09:54 AM PST by Republic (Jedem das Seine)
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To: Moonman62
Nope, we the people allowed ourselves to be brainwashed by MSM and the rabid rantings of Dems like Pelosie and Reid. We, the People must take responsibility for our votes and for our understanding of our Government.

You know what is stunning? Watch this video of Treasury Secretary Snow on September 10, 2003 and compare his testimony to the crap Treasury Secretary Geitner put forth just a few days ago. The difference is stunning, simply stunning.

56 posted on 03/08/2009 12:53:29 AM PST by Chgogal (Don't look at me, Comrade. You elected them! Hail to our very own President Mugabe!)
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To: pissant


57 posted on 03/08/2009 6:51:19 PM PDT by Free Vulcan (No prisoners. No mercy. 2010 awaits.....)
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To: Republic
In my dreams, I would wish them all ten years in Cuba, or Venezuela and no means of escape.

actually I think that is Baraq's goal to be supremo commandante of a socialist "paradise"

58 posted on 03/08/2009 7:00:27 PM PDT by nascarnation
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