Peter Ferrara
President Obama started his Democratic Convention nomination acceptance speech with one overriding truth: “But when all is said and done – when you pick up that ballot to vote – you will face the clearest choice of any time in a generation. It will be a choice between two different paths for America. A choice between two fundamentally different visions for the future.”

Truer words were never spoken. Because America is deciding in this election whether it wants to ditch the economic system that made us the richest, most prosperous nation in the history of the world, for the hope and change not for something better, but for something supposedly fairer, like socialism and communism is supposedly fairer than capitalism.

Churchill understood the choice perfectly. He said, “The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of socialism is the equal sharing of misery.”

Obama immediately then plunged into falsehood in his convention speech, saying right after the above, “Ours is a fight to restore the values that built the largest middle class and the strongest economy the world has known.” But that is not what Obama is fighting for. As the Bible says, “By their fruits ye shall know them.”

As noted in last week’s commentary, middle class incomes have fallen precipitously under President Obama, down from $54,983 in January, 2009, the month he entered office, to $50,964 by June, 2012, a decline of 7.3%, or $4,019 per family. Moreover, the decline in middle class incomes since the recession technically ended in June, 2009, has been nearly twice as great as the decline during the recession, which is unprecedented. As for the strongest economy the world has known, economic growth under Obamanomics, during the recovery, after the recession, has been mired at about half the historic U.S. average, only about one-fourth to one-third as much as during the typical recovery after a recession. What Obamanomics has delivered is the worst economic recovery from a recession since the Great Depression.

The rhetoric about the middle class is straight from self-professed radical extremist Saul Alinsky, and his book Rules for Radicals, preaching that left wing socialist economics would be socially accepted if it was advanced as a program for the middle class. Obama was actually an instructor in Alinsky’s social manipulation methods for the radical Left front group ACORN during his days as a street agitator (“community organizer”).

Peter Ferrara

Peter Ferrara is a senior fellow at the National Center for Policy Analysis and a Senior Fellow at the Heartland Institute.