President Herbert Hoover
Each day it is becoming more apparent that Barack Obama and the Democrats in Congress are pushing the average American into poverty. It is almost like the President is deliberately using the same tactics of Herbert Hoover that brought on the Great Depression.
The final blow may be when, in Obama's own words quoted in the San Francisco Chronicle on November 3, 2008,
Under my plan of a cap and trade system, electricity rates would necessarily skyrocket...the cost would be passed on directly to the consumer.
This is a projected to cost of cap and trade for each American family $3,100 a year. Who would benefit from the largess? Well-connected corporations that have learned how to take advantage of the schemes worked out by the Obama administration? Perhaps the same ones who donated so much money to his run for the presidency and helped to provide the funds for the $174 million dollar inaugural celebration.
Why would Obama want to impoverish the American people this way? Because just as in everything else he has done, he is following the failed policies of Herbert Hoover whose similar actions brought the Great Depression down on the United States.
Obama follows the Hoover pattern in many ways with his theory that he can run up huge deficits with the excuse of stimulating the economy while taxing the very people who provide the jobs.
Some political observers are seeing signs that the American people are beginning to push back against the taxing and spending programs that is shoving them into debt for generations to come and laying the foundation for another Great Depression. The only way it can be stopped is to take away the majority that the Democrats hold in the U.S. House and Senate in 2010 so that Obama can no longer destroy what is left of the free enterprise system and the American economy.
Obama carbon tax can be passed on to consumers (view)
Renewable energy a top priority for U.S. Interior Secretary (view)
Congress mandates new appliance restrictions (view)
Energy to be rationed under Democrats Global Warming Bill (view)
Anger against government growing in America? (view)
Americans protest taxes with TEA parties on April 15 (view)
Obama changing free enterprise to government controlled economy (view)
Subscribe at the bottom of this column to receive e-mail updates.
Want to add a comment?
Comments
Martha- Hoover put in the mechanism to send us into a depression, but Roosevelt extended it and with huge amounts of money being printed and ruined European economies. This is why Germany and France are both yelling at us now as they see this irresponsible move as a repeat of FDR' programs (which did not get us out of the depression- that is a myth).
We're running the risk of having countries' drop our currency as the currency of choice due to the fear of out of control inflation. If you’re China for example and you've bought 2 trillion dollars of our debt then you heat Obama is about to print 2 trillion dollars it would give you cause for concern.
This administration will be the worst in our history for the middle class due to Obama going after energy producers, cap and trade non-sense, ruining our dollar, inflation etc. On the bright side your paycheck may have $13.00 more a week take home.
If he really cared for the middle class this "stimulus" would have been directed toward small business and regional banks. Small business accounts for 70% of GNP, but Obama opted to give this money to the same incompetent people who started this mess. George Bush did the same thing and I harbor just as much anger towards him.
Trickle Down Stimunomics- you heard it hear first.
The Republicans set the stage for this depression over a period of decades, and now Obama gets to attempt damage control. You are right, of course, that the stimulus package designed by the Bush administration was gravely misdirected, and Obama should have known better than to implement it. Bush may have had the right idea, but his one-time $100 handout wouldn't even make a single utility payment for many families. The best economic stimulus package would have been a Guaranteed Livable Income, paying each citizen a monthly dividend share in their country (treated for tax purposes like any other dividend income). But that won't work now that the country is bankrupt and citizens are left holding the debt!
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!