Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” —Ronald Reagan
Ronald Reagan was right on and almost a prophet when his statement is applied to what Obama is doing to the economy and the free enterprise private sector these days.
His regulation of the banks and auto industry, and today his announcement that he will look into the salaries of financial executives9banks), show his determination to bury the private sector with strangling regulations, and take over by the government of one after another private sector businesses.
In light of his move toward replacing the private sector executives in the industries that he has already effectively taken over, with government bureaucrats. He is sort of keeping his campaign promise to create millions of jobs. The only hitch is that the job growth will be in the Federal government bureaucracy not the private sector.
Even as I write this post the news is reporting that General Motors stock has dropped to as low as a dollar today, and their is a talk of closing over 150 GM distributors that will put on the street without jobs close to a hundred thousand people!
“At a time when the official unemployment rate is nearing double digits, and 6.35 million people are receiving unemployment benefits, the U.S. government is on a hiring binge.
Executive branch employment – 1.98 million in 2009, excluding the Postal Service and the Defense Department – is set to increase by 15.6 percent for the 2010 fiscal year. Most of that is thanks to the Census Bureau hiring 102,000 temporary workers, but not counting them still yields a net increase of 2 percent in one year.
There’s little belt-tightening in evidence in Washington, D.C.: Counting benefits, the average pay per federal worker will leap from $72,800 in 2008 to $75,419 next year.
Meanwhile, according to Forbes’ layoff tracker, there have been 558,087 layoffs since November 2008 at large public companies; even local school districts aren’t immune. That’s just a sliver of the total unemployed, which government data estimate to be 8.6 percent of the workforce, or an alternate method of reckoning that counts discouraged workers puts at 20 percent.
Some of the Feds’ hiring increases have been stunning. If you look at the four-year period from 2006 to 2010, the number of Homeland Security employees has grown by 22 percent, the Justice Department has increased by 15 percent, and the Nuclear Regulatory Commission can claim 25 percent more employees” source: The American Thinker
If anyone has any doubts about president Obama’s socialist tendencies. These facts should open their eyes. It is my opinion that Obama intends to destroy as much of the private sector with punitive regulations like taxes, cap and trade costs and card check that will force many small business out of the private sector.
His “marriage” with big labor unions is quite evident from his dealings with the Chrysler bail-out and rapid bankruptcy and his response to SEIU request to put pressure on the California Governor and legislature to restore cuts in pay for SEIU employees approved by the Democrat controlled legislature to avoid imminent bankruptcy for California!
Will the Silent Majority wake up before it is too late?