Thread: Obama continuing Bush's assault on the middle class

Obama continuing Bush's assault on the middle class

May 24, 4:48 PM · 10 comments

Robert Stark

LA Independent Examiner

Despite receiving the majority of middle class votes, George Bush was one of the worst presidents for the middle class. Bush promoted free trade deals that sent our jobs overseas, promoted amnesty for illegal immigrants, and greater guest worker programs while our borders remain unsecured. Bush continued to spend to the point of breaking Lyndon Johnson's record by increasing the size of government. He borrowed from nations that are not the friendliest such as China and Saudi Arabia contributing to the current financial crisis, while the federal reserve printed money out of thin air devaluing our currency. Bush passed massive tax cuts that favored the wealthy and did nothing to address the budget deficit.

Bush was denounced by his political opponents as a tool of corporate and oil interest. Obama was able to capitalize on Bush's failed economic policies but, in reality, has continued Bush's economic assault on the middle class. Obama spoke out against corporate greed but, along with McCain, supported the bailouts of Wall Street signed by President Bush. Obama's second top source of donations was the financial firm Goldman Sachs which received billions in bailout money from the taxpayers. Obama appointed Timothy Geithner as Secretary of the Treasury who, as chairman of the New York Branch of the Federal Reserve, arranged the bailout of Lehman Brothers. Geithner also stated he is open to the idea of a global currency.

On spending, Obama has continued the same economic policies of the Bush administration of deficit spending and printing money out of thin air through the Federal Reserve. Obama supported the McCain/Kennedy amnesty bill in the Senate that Bush supported and vows to bring back so called comprehensive immigration reform as president. Obama flip flopped on the issue of reforming NAFTA during the democratic primary but has failed to address reforming it since then.

The middle class has been hard hit by the financial and foreclosure crisis caused by the economic and financial policies of Bush's administration and now Obama's. Massive immigration, both legal and illegal, continues. Our borders remain unsecure and the middle class continues to loose jobs due to the financial crisis and outsourcing.

Obama is no friend of the middle class. He is a tool of international finance, multi-national corporations, the military industrial complex, and has strong socialist leanings. Many think socialism and financial capital are at opposite ends of the economic spectrum. This could be no further from the truth. Socialists want more customers for the welfare state to sustain their political power. That is why the democratic establishment supports massive immigration. They want to increase their power base. They bribe voters with social programs. Many of these perceived leftist causes are financed by Wall Street financiers. The financial and corporate elites want open borders because they profit off the cheap labor and want a feudalist economic system.

Finance capital has bought off most of our politicians and media. Much like Socialism, monopoly capitalists want complete control of the economy and government. Think tanks such as the Council on Foreign Relations that many politicians including much of Obama's cabinet are members of seek to dissolve American sovereignty and consolidate their power. A strong middle class is necessary for a free Republic. Socialists and financial elites have common cause in weakening the middle class to consolidate their power and have control over both major political parties. The middle class, unlike left wing ethnic advocacy groups, foreign lobbies, corporate interests, does not have a lobby to advocate on their behalf. Politicians need the middle class to get elected but most presidents abandon the middle class once they are in power.

http://www.examiner.com/x-9462-LA-Indep ... ddle-class

Good post!