from The Daily Bell:
One day we’re saving the banks; the next day we’re saving the auto industry; the next day we’re trying to see whether we can have some impact on the housing market. – President Barack Obama
Yesterday’s New York Times devoted 6,000 words and a main feature to nothing short of an all-out defense of Obama’s economic legacy. In the process, they went full Keynesian.
From the opening paragraph that detailed Obama’s singlehanded efforts to rebuild the U.S. economy following the 2008 financial crisis, it was clear that author Andrew Ross Sorkin is more than simply a member of the lapdog media. Like a true believer, Sorkin bowed down at the altar of Obama’s government.
To hell with the real story behind the data. To hell with any logical thought processes. To hell with the notion that free markets, not governments, produce opportunity and prosperity.
As Sorkin tells it, the U.S. is now quite peachy. Because Obama.
Because Obama swooped in and saved Detroit’s bankrupt auto companies. Because Obama implemented the failed Cash for Clunkers program, which destroyed thousands of used – but still working – cars, pushing up the price of existing cars on the used market. Meaning that the very people he pretends to care about the most – America’s working class and poor – are the ones who suffered the most from this policy.
Because Obama is a renowned healthcare economist who saved the U.S. system from those greedy insurance companies. Even though the companies’ lobbyists helped write the bill and we found out just how much corporatism was at play after the bill was passed. Here’s to you, Nancy.
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