As recently as 2004, government intervention and chaos has been documented. by Kevin Roeten
(conservative)
Tuesday, April 20, 2010
Anyone watching recent events incorporated by Obama has got to wonder were we, as a nation, are going. As a recent caller indicated on a call-in to the Rush Limbaugh Show the deficit is sky rocketing. It's going ballistic with no downturn. On 4/2, the federal debt was estimated at $12 BILLION by the Congressional Budget Office(CBO). They expect a debt of $20 BILLION by 2020. But what most don't seem to realize, is that Obama may want the deficit to get that high.
Recent statistics show at this point in time, 50% of Americans don't actually pay any federal income taxes. In other words, the highest wage earners (those making more than $200,000/yr) and corporate entities are paying the bulk of all income taxes. But if Obama brings government in to save the day, he figures no one in their right mind would refuse government help in eliminating debt, and putting everyone to work. As per the Limbaugh caller, Obama will be set to come in, save the day with government, and concrete his position with a very socialist state. That is, if we let him.
He knows Americans won't swallow all this at once. It's got to be done piecemeal, and he's got to demonstrate how his predecessor started us down this path of destruction by capitalistic tendencies.
Never mind how he knows he's got 86 billion barrels of "undiscovered technically recoverable" oil sitting right off our shoreline. Take a look at the 2006 Assessment of Undiscovered OCS Oil and Gas Resources results ...from the Department of Interior (DOI). That's enough for 59 more years, even if no more additional oil is found, and enough natural gas to heat American homes for the next 60. In other words, oil and gas are available under US territory (Outer Continental Shelf/ OCS) right now. Millions would be put to work with drilling, refining, transporting, and using that available oil and gas.
Of course with the Obama regulations and restrictions in place now, no new American jobs are available, millions of American dollars are being paid to some countries that have been hostile to the US in the past. Which means that millions of American dollars will be routed to terrorists, and many more of our daughters and sons will die by their hands.
And with Obama's continuing push to eliminate purported 'manmade global warming' and refusal to look at past solar cycles, the debt will continue to grow while more Americans will be faced with onerous taxes--and no climate change. Taxes that will put many into the poorhouse, and will likely propel America's greatness into an 'also ran' country.
The worst scenario is Obama's overwhelming support of Planned Parenthood, who holds responsibility for ~36% of abortions on Blacks when the proportion of Blacks in society is only 13%. Didn't we start a war over the slavery and marginalization of Blacks in this country?
Then we actually learn FDR's policies prolonged Depression by 7 years, UCLA economists...calculate. More interestingly, Meg Sullivan (UCLA Newsroom), penned this article on 8/10/04, long before Obama had the presidency as a twinkle in his eye. But Lee Ohanian (then vice-chair UCLA's Department of Economics) who was worried about another economic slump broke the news in 2004: "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies." Low and behold, his UCLA partner Harold Cole also said: "Ironically our work shows that the recovery would have been very rapid had the government not intervened." And from Cole in that same column: "The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes."
Then on 4/8/10, both Ohanian (Economics/ University of Pennsylvania) and Cole (Economics/ Macroeconomic Research/ UCLA) co-wrote How Government Prolonged the Depression, which describes in gory detail the economic Depression of 1932. What Ohanian and Cole learned was government can deliver the most unintended of consequences.
One wonders exactly what that 54% of Americans who voted for Obama were thinking.
The views expressed
in this article are those of Kevin Roeten only and
do not represent the views of Nolan Chart, LLC or its affiliates.
Kevin Roeten is solely responsible for the contents
of this article and is not an employee or otherwise affiliated
with Nolan Chart, LLC in his/her role as a columnist.
