Obama Copies Europe's Model of Decline

Monday, 18 Jun 2012 10:25 AM

By Wayne Allyn Root

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President Barack Obama says "everything is fine in the private sector." What he actually meant was "everything is going exactly according to my plan."

Barack Obama was my college classmate at Columbia University, class of '83. For 3 1/2 years I have shouted from highest rooftops that Obama has a purposeful plan.

His plan is to damage and weaken the private sector, dramatically increase the number of government employees, strengthen unions, dramatically increase dependence on entitlements, and dramatically increase taxes on the private sector — thereby bringing down the U.S. economy and forcing Americans to their knees to beg big government (and big unions) to save them.

That's no wild guess. It's the exact way Europe has been run for 50 years. And look at the results. As I've been predicting for many years now, the EU is a walking corpse. Greece is gone. Collapsed. Shattered. Spain is in shambles. Italy will be the next to go (within weeks). France and UK are not far behind.

The EU will break apart soon. A generation left in debt and ruins. That is Obama's model.

No need to argue about it. In just the past few days, the statistics that prove my theory correct are all out. Record numbers of Americans are on welfare, food stamps, disability, and unemployment.

The net worth of American families is down a staggering 40 percent in only three years under Obama. 4.6 million jobs have been lost under Obama, while the number of federal government employees and the amount of federal spending are both up dramatically.

There are no more jobs (in the private sector.) But government employees keep going up, and they keep getting raises. What more needs to be said? It's a lesson in how you destroy the most powerful economy in the world in just a little bit more than three short years.

It took the socialists of Europe 50 years to accomplish what Obama did in 3 1/2 years. Congratulations, Mr. President. You are the biggest loser.

Obama is the most anti-business president in U.S. history. The result of his policies has been economic collapse and carnage from coast to coast. As I stated in Time magazine two years ago, “Obama is the great jobs killer. He kills so many jobs, he should be at the top of the FBI’s Most Wanted List.” But even I didn’t realize back then that the job-killing rampage was just getting started.

The only jobs success Obama can claim are “saving” GM and Chrysler, and creating government employee jobs. Let’s examine those two dubious achievements. Obama claims he single-handedly "saved" GM and Chrysler. But at what cost?

I’m an entrepreneur and CEO. I remember over a decade ago when I actually saved my company. We were out of money and couldn’t make payroll. I wrote a $100,000 check so my employees would get paid. The business improved and we survived another nine years. During that time my company pumped about $60,000,000 into the U.S. economy. All because I risked my life savings to save the company. That is how you save a business.

But Obama’s version is a bit different. He saved GM and Chrysler by losing over $16 billion (and counting) of taxpayer money. That’s the bare minimum loss. Is that a “save?” I think it’s a “spend.” I call it a big loss.

When you ask government to spend $16 billion to “save” a company, how is that a save? You could save any business in the world if you misappropriate enough taxpayer money. But that’s not business, that’s welfare.

And does government have a right to spend taxpayer's money to pick certain companies to save? Is it constitutional to save only the ones that give you the biggest campaign contributions? After you "save" it, is it legal to hand ownership to your union buddies, while fleecing the secured creditors?

Is it legal to save a company that is going broke from over-priced union salaries and pensions, just so you can keep paying those pensions to your most loyal union supporters? Is that what taxpayer money is for?

And as far as the claim that Obama has created and "saved" government employee jobs — well, that’s not something to brag about. Saving jobs that cost you money and increase your debt is not an achievement. It's a big mistake. It requires billions of dollars "redistributed" from the private sector to create or save government jobs.

Those jobs don’t make taxpayers a dime. But they sure do cost a pretty penny. Every new government job . . . every new IRS agent . . . every new bureaucrat . . . comes with a fat overpriced salary . . . a $100,000 pension for 30 or more years (after retiring at age 45 or 50) and free healthcare for life. All paid by you and me.

We’re all for cops and firefighters. But if your city needs 100, you should hire 100. But Obama thinks you hire 500 government employees for a city that needs 100. Replicate that across the country and you have millions of new bills, new spending, new pensions, new debt, new mouths to feed. All provided at taxpayer expense. And you wonder why we’re broke?

When GM or GE needs 100 new employees, they hire 80 and ask each one to do more. They all get market-based salaries and their jobs are not guaranteed for life. There are no pensions (other than what you save for yourself). That’s how you run a business. That should be how you run a country too.

But how would Obama and his leftist cabal know that. None of them has ever run a business. None of them has ever created a job. None of them has ever made a payroll. None of them has ever paid anyone else's health insurance. They’re too busy handing out OPM — Other People’s Money.

So things aren’t working out so well. The economy is in free fall. And our president lives in a bubble. A bubble where "the private sector is fine." But it's not fine. We cannot survive four more years of Obama.

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Campaign Committee. Read more reports from Wayne Allyn Root — Click Here Now.


















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