Tags: sessions | obama | capitalism

Texas Rep. Sessions: Obama Trying to Damage Capitalism

By Dan Weil   |   Tuesday, 12 May 2009 05:02 PM

Texas Rep. Pete Sessions, chairman of the National Republican Campaign Committee, says President Obama is attacking the free enterprise system.

In an interview with The New York Times, Sessions accused the president of trying to “diminish employment and diminish stock prices” as part of a “divide and conquer” strategy to solidify his power.

Sessions cited rising joblessness as proof. The unemployment rate surged to 8.9 percent in April from 8.5 percent in March.

Obama’s policies are “intended to inflict damage and hardship on the free enterprise system, if not to kill it,” the seven-term Congressman says.

Sessions may not have chosen the strongest arguments against Obama. Any president who wants to throw people out of work and push stock prices lower isn’t exactly enhancing his re-election prospects.

In any case, Sessions argues that Obama’s strategy will backfire, as voters harken back to Republican control of government, when “many dreams were achieved,” the size of the economy doubled and employment and financial markets hit record levels.

Not surprisingly, Democratic Congressional Campaign Committee Chairman Chris Van Hollen of Maryland took issue with Sessions.

Van Hollen said in a statement, “The latest remarks by NRCC Chairman Pete Sessions have no place in our current economic debate and reflect a party more preoccupied with offering bizarre conspiracy theories than offering credible solutions to get our economy back on track.”

Sessions isn’t alone in accusing Obama of abandoning capitalism. Peter Ferrara, director of budget policy at the Institute for Policy Innovation, wrote recently on FoxNews.com, “How is Obama not a socialist? Under his ‘auto bailout’ policy, the government would be taking GM and Chrysler away from the investors.”

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