Two recent news stories illustrate, more clearly than ever, the Obama Democrats' contempt for the free market and individual economic liberty. If given the chance, they will expand government and spend as much of our money as they can get away with.
First we learn that Obama and his party simply will not agree to keep their grubby government hands off the estimated $200 billion the banks are going to repay under TARP. Just when we finally receive this glimmer of good news to ameliorate our reasonable panic over the ever-increasing national debt, Obama announces that he intends to intercept a good portion of the debt repayments and spend it on job creation and assistance to certain debtors.
I assume we're supposed to be too dense to remember that his stimulus spending to date hasn't created jobs and that most of it hasn't even been used for that purpose. So when this administration says its first priority is reducing debt, understand we are being played -- by consummate cynics.
Likewise, the Democrats' various health care plans contemplate $500 billion in Medicare savings between 2010 and 2019. But instead of using the savings to shore up this entitlement's solvency, they are charging forward with a new entitlement: major subsidies to the uninsured to buy health insurance.
They just can't help themselves, what with their firm control of the executive and legislative branches of the federal government. They barely have to pretend to like capitalism anymore.
Obama's economic radicalism was as plain as day for those paying attention during the presidential campaign and not otherwise hypnotized by his platitudes. But it's not just him; the lion's share of his party is right on board, putting the lie to their long-professed centrism.
We surely all remember two of candidate Obama's unscripted comments that were particularly revealing of his economic philosophy.
When asked in the 2008 Philadelphia primary debate why he wanted to pursue a capital gains tax increase despite historical evidence that such increases generate net decreases in revenues, he said, "I would look at raising the capital gains tax for purposes of fairness."
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