By James L. Lambert
Over the course of the last four months the American public has witnessed a runaway federal government waging war against America’s free enterprise system. In its attack against privately owned corporations, our government is stepping far outside its role as defined by our founding fathers and our Constitution.
Free enterprise, (as expressed through our capitalistic system), has helped this country become one of the most powerful economies in the world. While there are elements of the free market system that warrant oversight, it is essential that the economy be given the freedom to naturally correct itself when it goes through cyclical downturns, like we are experiencing now.
Our current deep economic malaise is best served when government lessens the drag of high taxes, both on corporations and on individuals. Instead the Obama administration, (together with House and Representatives and Senate Democrats), have far exceeded their constitutional roles as it relates to the economy during these days, namely:
- The President of the United States has directed the head (Rick Wagoner, CEO of General Motors) of a fortune 500 company to resign.
- The President has publicly criticized private bond investors in last month’s bankruptcy negotiations involving Chrysler Corporation. May I remind President Obama that preferred bond holders are allowed by state and federal law to be in first position in the dissolution of the car maker’s corporate assets. Instead the President has used his ‘bully pulpit’ to label these investors, some of whom are retirees, as selfish and “greedy.”
- In the coming weeks, Democrat leadership is looking into placing a special tax (‘cap and trade’) on energy that could cast each household upwards of $1000 to $3000 a year (through taxes on gasoline, electricity bills).
- While the vast majority of Americans already have health insurance, the federal government is now exploring ways of taking over the healthcare industry (which represents approximately 17% of our total economy). This is yet another way for Obama to cater to the estimated 47 million people who do not have healthcare insurance. It’s very important to note that this is a fluid number that the media regularly uses. However, the figure includes 10+ million illegal aliens, people who make between $50,000 and $75,000 a year who can afford healthcare but choose not to prioritize it, people between the ages of 18 and 34 who often don’t wish to purchase health care because they are the healthiest population, and people who are in the first three to four months of a new job who have not qualified yet for healthcare benefits.) The government has proven that they have trouble running things well. (i. e. the post office, our public school system, social security, Medicare, etc.) If they get their hands on America’s health care industry it will mean that our health care will be rationed, there will be long lines, and bureaucrats will be making life and death decisions for patients. Is this what we want?
- The President’s advisors forecast a record, $1.8 trillion dollar deficit (in 2009) with over ½ of the President’s budget being borrowed.
- Some of the large banks have had equity problems because of their non-performing assets (bad loans) and their plunging stock values. Considering this, there are still banks that have solid balance sheets. These banks are resisting forced TARP money to avoid the federal government’s intrusion into their business.
- Federal authorities also have indicated that they will now set the bar on how much bank executives can make. Imagine this for publicly traded companies? This is socialism!
- The administration has indicated that they are displeased with the make up of the boards of some corporations that the federal government has lent money to, saying they “lack experience” How about politicians setting rules for businesses they know nothing about?
- Despite the acknowledged danger of mercury in the new twirl light bulbs, the federal government is giving us no choice in our future selection of light bulbs. All this while workers in Chinese factories (who make the bulbs) being sickened by their mercury content?
- Thanks to liberal Democrats in Washington, the government has again said ‘no’ to poor black families in Washington DC and NYC who prefer (school) vouchers for their kids. These families would rather make the decision themselves when it comes to their children’s education. There are private schools in NYC and DC that cost less than the failing public schools in these cities. Instead Democrats choose to deny their constituents of this type of ‘choice’. Instead, they have decided to appease the teacher unions.
- The Governor of Nevada recently reminded us of President Obama’s public rebuke and chastisement of companies that sponsor business conventions in “places like Las Vegas.” Obama considers these business conventions as frivolous and too expensive. However income from business conventions is important to cities like Las Vegas. Yet President Obama himself recently spent thousands of taxpayer dollars to fly Air Force One to Las Vegas to attend a Democratic fund raiser to his well-heeled friends. A little hypocrisy here?
Now the President of the United States is telling credit card companies how much they can charge customers. (I didn’t know his job title is Credit Card
Company President?) While I agree that some government oversight is needed, do we really want the federal government telling these companies how to run these business? Why should we? These are the same bureaucrats who can’t even balance their own budgets!
In his speech addressing the credit card companies, President Obama advised Americans that “you shouldn’t take on more debt than you can handle.” Mr. President, I suggest you follow your own advice and apply it to your budget you submitted this year to Congress. And please, stop waging war on free enterprise!
James L. Lambert, a frequent contributor to ChristianMirror.net and author of Porn in America, is a licensed nationwide real-estate mortgage loan sales agent and can be contacted through his website.
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