Tags: recession | looms

Democrats Are Wrecking the Economy

Tuesday, 22 Jan 2008 08:48 AM

By Lowell Ponte

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Stock markets around the world plummeted Monday while the New York Stock Exchange was closed for Martin Luther King Jr., Day.

This plunge, likely to reverberate in American markets on Tuesday, is according to The New York Times caused by “Fears of a U.S. Recession.”

Such left-liberal newspapers never explain why American and foreign traders expect recession.

Behind investor fears is the likelihood that 2008 will bring more Democrats to power in the U.S. Congress and elect a far-left Democrat — probably Hillary Clinton — president.

Democrats have already done everything in their power to bring down the U.S. economy, undermining American oil production and efforts to bring stability in the Persian Gulf.

Even worse, Democratic front-runners Sens. Hillary Clinton of New York and Barack Obama of Illinois have vowed to let President George W. Bush’s tax cuts disappear in 2010.

This, as Grover Norquist of Americans for Tax Reform warns, is a Democratic pledge to raise taxes on American workers and business by $2 trillion!

Democratic Speaker of the House Nancy Pelosi already includes this vast expropriation in her long-term socialist spending plans.

This proposed Democrat tax hijacking of America is already causing immense harm.

Business people today are making thousands of decisions whether to invest and create new jobs in the United States, move offshore, or halt all investment.

The coming $2 trillion Democratic tax increase is making that decision for them in a United States that already has among the highest business taxes on the planet.

American voters need to open their eyes to what is happening.

Democrats, as they did in their 1992 “It’s the Economy, Stupid” campaign that elected the Clintons, expect to profit politically by devastating America’s economy.

The more that Americans fear losing their jobs and facing economic bad times, the more they can be bamboozled into voting for Democrats — who, in fact, are the biggest cause of the economic problems people fear.

The mere existence of this socialist political party puts a drag on our economy because investors must always hedge defensively against a Democratic takeover of the government.

Do working people understand that every time they vote for any Democratic candidate, they weaken the economy, raise the price they must pay for food and other goods, and undermine future opportunities for their own children?

But, ignoramuses will ask, Was not the economy relatively good during the Clinton regime?

The Clinton co-presidency used the Cold War “Peace Dividend” from President Ronald Reagan’s victory over the Soviet Union to fund Democratic vote-buying via social programs.

The Clintons wantonly squandered this gigantic one-time historic windfall on a splurge that fattened government.

They diverted huge cuts in America’s national defense budget to bankroll more government spending . . . wasting money that should instead have been returned to American families in the form of massive permanent tax cuts.

And in their rush to neuter our intelligence agencies and American military — remember Bill Clinton’s note declaring, “I loathe the military” — they as radical leftists hated so much during the Vietnam War, the Clintons left America nearly blind and defenseless against new threats such as Islamist terrorism.

The Clintons also had the good luck of losing Congress to the Republicans in 1994, which meant that for three-quarters of the Clinton administration Republican lawmakers were giving confidence to world markets by blocking the Clintons’ socialist schemes.

Bill and Hillary hated this at the time, of course, but today they dishonestly claim credit for the years of prosperity that this Republican Congress created.

Why don’t Democrats now fear that voters will see that Democrats are causing economic chaos, especially when those most harmed will be Democrat-voting Hispanics and African-Americans?

Democrats know that the ruling mainstream media such as The New York Times, heavily infiltrated over decades by leftists, will continue to slant the news in their favor and blame Republicans for all economic problems.

Democrats also have the advantage that their voters are, by and large, too stupid to understand Democratic wrongdoing.

Half the people in this country have, by definition, an IQ of 100 or less. If those with IQs below 100 were magically prohibited from voting, Democrats would never win another election.

The relatively few bright people who vote Democratic almost always do so selfishly. Big government provides them a job, a grant, some kind of favoritism or privilege or monopoly, or some other path to money, status or power.

But how would Democrats benefit from a global recession or depression?

First, as David Horowitz cogently argued in his book "Unholy Alliance," leftists were once driven by two motives — love of communism and hate for the capitalist United States. Communism has failed and gone down the garbage disposal of history. So all that the left has left is its hatred of the United States, its burning desire that our country be brought down.

Second, the Democratic Party sees collapse as its best opportunity to win. Who will be left to pick up the pieces if capitalism is shattered? Big government.

As libertarians have long said about the Democratic Party strategy, “They break your legs and then offer you a crutch.” Big government taxes away so much of what you earn that you cannot save for your old age, then offers to make you dependent on socialist security.

Big government requires hospitals to give free care to illegal aliens and welfare cheats, thereby pricing private insurance beyond millions of us because hospitals are forced to charge you and your insurance company $10 per aspirin to pay for these parasitic freeloaders.

Liberal politicians strong-armed banks into lending to credit-unworthy Democratic constituents. Now, with these borrowers defaulting on billions in mortgages, these politicians call banks “predatory” for loans they forced banks to make.

For left-liberal Democrats like Clinton, Obama, and Sen. John Edwards, their hypocritical game is entirely win-win. Either capitalism will survive, but in a weakened, more regulated condition, or economic collapse will justify imposing socialism, a new New Deal.

The bird that symbolizes today’s Democratic Party is not the American Eagle. It is the vulture.

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