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.
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.