Will Obama Catch Himself In His Own Trap?
By Carole on Jan 30, 2010
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President Obama's latest desperate move to save his failing presidency is just as out of touch with the will of the American people as his idea of health care reform, cap & trade and non-stimulating stimulus bills. He and his Congressional cronies plan to force a series of votes that they believe will force Republicans to choose between Wall Street and Main Street.
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Continuing to prove the community organizer has no clue how business works nor how sustainable jobs are created, Obama believes he can appease voter anger by placing crippling regulations on the financial sector not realizing such a hasty scheme could not only send some banks back to shaky ground, it could also add an additional burden to their customers as, like any business in a free market, they would just pass on the pain.
And yet White House senior adviser David Axelrod said in a recent interview that one of the most immediate priorities are votes on a bailout fee on big banks and a financial reform package, including a new consumer finance agency. Translation: more anti-business taxes, crippling regulations and bureaucracy.
The reality of Obama's proposed "bailout fee" and additional regulations was explained perfectly by Senator-elect Scott Brown (R-Massachusetts) when his Democratic opponent tried the same dirty trick the Obama administration is about to try to pull on the country. In the waning days of the campaign, when the desperate Democrats were terrified of losing, Mr. Brown was accused of siding with Wall Street over Main Street by opposing the bank fee. His response:
We have a situation where they, the government lent banks money. They are paying it back, with interest. Now, at the middle or the end of the game, they are saying “Oh, by the way, you are going to have to pay a fee for allowing us to use your money.” And, with all due respect, that money is going to be transferred down to the individuals through ATM fees, increased fees, and the amount of money - I thought banks were supposed to lend. So now they are going to take the money they would be lending to the small businesses in this state, and the men and women who want to buy homes, and take advantage of the $8,000 credits, and there is less of a pool there. (source)
So President Obama's latest grand empty gesture is nothing more than another con game that he wants people to believe is for their own good when in reality he is simply trying to muddy the political waters and draw attention away from his own failures. In a recent interview with Time magazine, the president laid out his plan:
"It'll be interesting to see how some, who have tried to exploit legitimate anger at the big banks this year by trying to put it on us, are going to position themselves - whether in fact they're going to want to protect all these financial institutions from the regulations that will prevent the kind of disaster that we've seen over the past couple of years."
"They're going to have to vote yea or nay, aren't they?" the reporter said.
"Right," said the president. (source)
A trap based on misinformation, lies and the Democrats' own ignorance; the Obama machine believes the American people will disapprove of Republican votes against the administration's policies. Did they miss the latest election results from New Jersey, Virginia and Massachusetts? Are they not reading recent poll results regarding the mid-term elections in November?
When Mr. Obama and his cronies accuse the Republicans of saying "no" and set their traps to entice more "no's", they're forgetting one important fact: The American people are saying "no" to the Democrats' tax and spend, anti-business, job killing policies every chance they get and the Republicans are acting according to the will of the people they are sworn to serve. Someone should introduce President Obama to that concept.
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