Another Trillion Dollar “Crisis,” Courtesy of Barack Obama
By John W. Lillpop
Eventually, the American people and the mainstream media are bound to wise up to Barack Obama’s bait and switch scheme of screaming “crisis” in order to waste trillions more of the U.S. treasury on failed liberal causes.
Obama’s latest “wolf” cry involves his Marxist proposals for reform of the financial industry. In a nutshell, Obama wants to destroy private enterprise in the financial industry by replacing it with onerous government regulations and oversight.
And why not?
After all, the government has amassed an astounding record of success in fixing unemployment with a trillion dollar stimulus, managing Social Security and Medicare into solvency, stabilizing the real estate market by forcing lenders to approve mortgage loans based on race and or ethnicity quotas rather than on ability to repay, and on and on.
Given that track record, why not hand Marxists the keys to America’s financial institutions and complete the devastation envisioned by President Obama when he took office on January 20, 2008?
As reported at myway.com, in part:
“WASHINGTON (AP) - The U.S. is destined to endure a new economic crisis that sticks taxpayers with the bill unless Congress tightens oversight of the financial industry, President Barack Obama said Saturday.
“The overhaul is the next major piece of legislation that Obama wants to sign into law this year, but solid GOP opposition in the Senate is jeopardizing that goal.
‘Every day we don't act, the same system that led to bailouts remains in place, with the exact same loopholes and the exact same liabilities,’ Obama said in his weekly radio and Internet address. ‘And if we don't change what led to the crisis, we'll doom ourselves to repeat it.
‘Opposing reform will leave taxpayers on the hook if a crisis like this ever happens again,’ the president said.
A proposal that Senate Democrats are readying for debate creates a mechanism for liquidating large financial companies to avoid a meltdown.”
Sound familiar? It should because it is the same fear-mongering rhetoric that Obama used in begging for the original bail out, the stimulus debacle, and health care reform.
After all, Obama believes that crisis, real or managed, is an excellent opportunity to implement his Marxist agenda.
How much longer is Obama going to be able to get away with his bait and switch double talk?
Posted by John W Lillpop at 6:07 PM