Skip to comments.Obama: Limited Gov't That Preserves Free Markets 'Doesn't Work. It Has Never Worked'
Posted on 09/03/2012 7:16:24 AM PDT by Son House
In a speech delivered at Osawatomie High School in Osawatomie, Kansas, on Tuesday, President Barack Obama argued that while a limited government that preserves free markets "speaks to our rugged individualism" as Americans, such a system "doesn't work" and "has never worked" and that Americans must look to a more activist government that taxes more, spends more and regulates more if they want to preserve the middle class.
"'[T]here is a certain crowd in Washington who, for the last few decades, have said, lets respond to this economic challenge with the same old tune. 'The market will take care of everything,' they tell us," said Obama. "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," Obama continued. "But if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. And, they argue, even if prosperity doesnt trickle down, well, thats the price of liberty.
"Now, its a simple theory," said Obama. "And we have to admit, its one that speaks to our rugged individualism and our healthy skepticism of too much government. Thats in Americas DNA. And that theory fits well on a bumper sticker. But heres the problem: It doesnt work. It has never worked.
"It didnt work when it was tried in the decade before the Great Depression," said Obama. "Its not what led to the incredible postwar booms of the 50s and 60s. And it didnt work when we tried it during the last decade. I mean, understand, its not as if we havent tried this theory.
"Remember in those years, in 2001 and 2003, Congress passed two of the most expensive tax cuts for the wealthy in history," said Obama. "And what did it get us? The slowest job growth in half a century. Massive deficits that have made it much harder to pay for the investments that built this country and provided the basic security that helped millions of Americans reach and stay in the middle class==things like education and infrastructure, science and technology, Medicare and Social Security.
"Remember that in those same years, thanks to some of the same folks who are now running Congress, we had weak regulation, we had little oversight, and what did it get us?" said Obama. "Insurance companies that jacked up peoples premiums with impunity and denied care to patients who were sick, mortgage lenders that tricked families into buying homes they couldnt afford, a financial sector where irresponsibility and lack of basic oversight nearly destroyed our entire economy.
"We simply cannot return to this brand of 'youre on your own' economics if were serious about rebuilding the middle class in this country," said Obama.
Tell that to the Ghost of Ronald Reagan.
What do you expect from a idiot that spent the Reagan years in a madras in Indonesia?
Thanks Vintage Freeper for posting this:
It articles like this that make we wonder if the voters of the USA have gone insane. How is this corrupt incompetent empty chair above 10% in the polls?
Thanks, guess I’ll keep an eye open for Les Miserables in audio;
Thanks for the post.
The article is from 2011. Old news but still relevant.
“TO SECURE THESE RIGHTS governments are instituted among men”
Secure them from what/who?
Good question. George Stephanopoulos can ask Democrats to explain what a expensive tax cut is. That’s his job.
[[ “’[T]here is a certain crowd in Washington who, for the last few decades, have said, lets respond to this economic challenge with the same old tune. ‘The market will take care of everything,’ they tell us,” said Obama. “If we just cut more regulations and cut more taxes—especially for the wealthy—our economy will grow stronger. ]]
Arthur Laffer be a-laffin’ at ya, Barack...
Simple. Because half of "Americans" are parasites that don't lift a finger to take care of themselves, and are more than happy to keep the socialist party in office to keep the gravy train rolling until the freebies run out. It's not the same country any more. It's being looted and the looters are now close to being the majority, if not the majority already.
Moths to the flame.
How did THAT work out for ya Mr. Soetoro?
Who was Roland "The Godfather of Subprime" Arnall - and who did he buy the Ambassadorship to the Netherlands from?
Billionaire business mogul Penny Pritzker is a member of one of Americas richest families and was the Finance Chair for the presidential campaign of Barack Obama. It was Pritzker that led the prolific, and illegal, fundraising that helped power Barack Obamas presidential campaign. She was the chair of Chicago-based Superior Banks board for five years.
Pritzker was into subprime lending before it became all the rage starting in around 2000. Prtizker's chairmanship was to concentrate on sub prime lending, principally on home mortgages, but for a while in subprime auto lending, too, after the Pritzkers' bank acquired its wholesale mortgage organization division, Alliance Funding, in December 1992.
Superior Bank went belly up in 2001 with over $1 billion in insured and uninsured deposits; 1,406 depositors lost much of their life savings. This collapse came amid harsh criticism of how Superiors owners promoted sub-prime home mortgages.
“What makes me even sadder though, is that there is a very real chance that we are about to send an avowed Marxist back to the White House for a second term.”
Yup, right now the election looks to be a toss-up. Fox News reporting a few minutes ago that Obama still leads in both Virginia and Ohio (both are must-win states for Romney, and Obama may even pick up a point or two after the convention).
“Our country is completely gone.”
I wouldn’t say “completely gone” just yet, but it’s teetering on the precipice.
Obama is not “the cause”.
Rather, he is “the results”.
This election will not be about “unifying” the nation — if that is even possible at this stage of the game. I believe it may not be, my opinion only.
Instead, the election will illustrate to those who are paying attention the “Great Divide” that is occurring in America, which threatens to either break the nation apart into pieces — or accelerate our plunge towards a state that is both socialistic and authoritarian.
With many, and for varied reasons, it's become as simple as 'melanin envy'.
Metastisis of the ceaseless agitprop diet of fear and self-loathing propagated by, among others, the enemedia and acadhimmia.
Notice how the SOB says our rugged individualism and desire for less government is “IN OUR DNA”? Then he goes on to say that less government has never worked.
Well is he saying, like idiots, we came here, stayed here, fought here, died here, worked here for hundreds of years, but it didn’t work even though we built the greatest country in history?
His is a drugged mind, high on chemicals, ego and adrenalin. He thinks the United States of America was, and is, an illusion.
He might be saying one thing to the American people, but he is conveying another more basic truth about himself: The United States of America, and the virtues that built it, do not run in HIS DNA!
It’s time to throw this empty, broken-down chair into the landfill of our darkest history and cover it with shame and humiliation.
Free markets don't work, never have!
Rugged individualism doesn't work, never has!
Democracy doesn't work, never has!
Freedom doesn't work, never has.
AMERICA DOESN'T WORK, NEVER HAS!
The whole democrat economic message we will be hearing from the convention this week will be the Big Lie, in a dimension unseen since the days of totalitarian regimes in Germany and Russia.
Be ready for it-- by Thursday night it will look like we've been living in boom times the last three years.
This far into the thread and nobody has argued with his facts?!
We didn't try it during the last decade, or even during the decade before the Great Depression. Just because we have a Republican president doesn't mean we're somehow an unregulated free market.
In both examples government interference in the market caused the problems that came later. It wasn't the lack of government interference.
Thanks Son House. I have 3: uninformed (don't care), poor judgement (useful idiots), evil (willing accomplices/co-conspirators)
BTW, I'm all on board with Starve the Beast 2.0! DEFUND socialist collectives 1.0 has worked well for me personally. The country is at stake. Ours and future generations living in socialist imposed debt slavery is not what those radical founders had in mind.
Socialism Is Legal Plunder - Bastiat
BIG GOVERNMENT IS CRONY SOCIALISM
Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task. - Bastiat
I'll take "Arrogant Narcissist" for $100 Alex...
Followed up by "Communist-Islamic-Userper" for another $100.
It never works except every time it gets tried
Good word, LOL
There is no question his statements just scratch the SURFACE of his wrongheaded FAILED marxist/socialist/communist/covert extremist Islamic beliefs. It's about POWER, ARROGANCE, and DOMINATION. Obama and his ilk are so overbearingly fallacious!
He's PURPOSELY created a nightmare economically for America, now he can just sit back and watch the grueling struggle...Selfish, irresponsible, illegitimate, unaccountable, fraudulent, unreliable, anti-capitalist, anti-American LOSER!
...The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.
He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.
He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.
He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.
He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.
He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.
He has affected to render the Military independent of and superior to the Civil Power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:
For quartering large bodies of armed troops among us:
For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:
For cutting off our Trade with all parts of the world:
For imposing Taxes on us without our Consent:
For depriving us in many cases, of the benefit of Trial by Jury:
For transporting us beyond Seas to be tried for pretended offences:
For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies
For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:
For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated Government here, by declaring us out of his Protection and waging War against us.
He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.
He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.
He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.
He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.
In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.
“In a speech delivered at Osawatomie High School in Osawatomie, Kansas, on Tuesday, President Barack Obama argued that while a limited government that preserves free markets “speaks to our rugged individualism” as Americans, such a system “doesn’t work” and “has never worked” and that Americans must look to a more activist government that taxes more, spends more and regulates more if they want to preserve the middle class.”
Is this guy channeling Biden???
He just wrote a crap ton of Romney ads!
if there is any doubt that the obamanation is not a fascist/marxist/socialist, his very words explain it.
Rinos are the socialist nowadays, the rats are full-fledged communists/fascists.
Unfortunately, there’s plenty of members of that club. I absolutely goggle at such cretins, I cannot believe G-d made a human so incredibly stupid, but there it is. You lay out facts and figures to them and they will just spout some talking-point irrelevant trivial thing about Romney no matter what. It’s a waste of time to try and talk to them. I’ve heard Hannity spend untold minutes with such callers, and at the end of his carefully laid out facts and figures, they just say something like, “But he put his DOG on top of the roof of his car!” and justify an Obama vote with that inane remark.
if there is any doubt that the obamanation is not a fascist/marxist/socialist, his very words explain it.
Rinos are the socialist nowadays, the rats are full-fledged communists/fascists.
It's the same mental illness as those who allowed, the slaughter of 6 million Jewish people just for being Jewish! SELFISH ARROGANT PRIDE!
As much as it pains me to say: Chief among them the Christian church who sat back and watched it unfold and did NOTHING!
What's so ironic is the majority voting block of these Obama/Dem supporters are Jewish.
50 years after the Cuban Revol-oosion they still can’t make it work. Same for North Korea and all the other commie nations that are now in the dustbin of history.
20 years after the American Revolution, using the FREE MARKET system we were a MAJOR PLAYER on the world economic scene.
It appear communism and socialism only lasts till the original leaders, who rule as dictators, and their older followers die off, then the nations revert to the FREE MARKET system.
COMMERCE BETWEEN MASTER AND SLAVE IS DESPOTISM
How does that State of affairs typically work?
4 He took what they handed him and made it into an idol cast in the shape of a calf, fashioning it with a tool. Then they said, These are your gods, O Israel, who brought you up out of Egypt.
Same ol Sun - different house.
Prosperity depends on ecomomic progress. Economic progress depends on capital accumulation. Capital accumulation depends on saving and innovation. These in turn depend on free markets to make high profits and accumulated great wealth. And this depends on freedom and limited government.
The only alternative to improvement for all, through economic progress achieved in this way, is the futile attempt of some men to gain at the expense of others by means of looting and plundering. This, the loot-and plunder theory, is the alternative advocated by the critics of the misnamed trickle-down theory.
OK. Obama wins the argument. Lets do what works. Hopey changey doesn’t work. So, what next?
One unique thing about Starve the Beast 2.0 will be the grass roots no leader like the TEA Party, and many Democrat supporters who voted for Obama will be going along with it, because they will see the consequences of their vote, a kind of too late smart epiphany.
I’ll have to agree it’s been done on purpose, there were never any new ideas the Democrats could have come up with to improve the economy, they just didn’t want to use the ones that would have actually worked. And they were told so by some the opposition.
I keep thinking of “Cash for Clunkers” and the idiot fool Republicans that went along with that Democrat destruction. What an absolute waste of good cars and engines. The manufacturing that went into the cars destroyed meant nothing to them. It was neither frugal or resourceful.
[It appear communism and socialism only lasts till the original leaders, who rule as dictators, and their older followers die off, then the nations revert to the FREE MARKET system.]
Like the Communist Chinese state Capitalists and their NyLon benefactors?
7 The merchant uses dishonest scales;
he loves to defraud.
8 Ephraim boasts,
I am very rich; I have become wealthy.
With all my wealth they will not find in me
any iniquity or sin.
9 I am the Lord your God,
[who brought you] out of Egypt;
I will make you live in tents again,
as in the days of your appointed feasts.
We have to keep in mind that we are adressing idiots.
When you tell dumb people (and democrats- but that is redundant) that cutting taxes brings in more money it is difficult for them to grasp why.
The why is that the government is taking TOO MUCH which slows down the economy. That needs to be explained much better than we have done.
Obama is doling out our seed corn to the masses. We will have the same results as Soviet Russia if this commie is re-elected. As Chuck Norris has pointed out, it may already be too late.
Obviously it is