Thursday, February 25, 2010
Obama Rejects Attackers' Cries of 'Socialism'
As we move into the Socialism part of course, we can analyze the argument of whether or not Obama is passing socialist agendas. He certainly is pushing for reforms on the national level, but it doesn't not technically make him socialist. Obama is still facing resistance and criticism from big business and CEO's but you can't blame them.
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4 comments:
Following all the bailouts and problems the "too large to fail" financial institutions have been granted by the government, it is no wonder that President Obama is trying to push through legislation to better regulate the financial industry.
In my monetary and fiscal policies class, we have been learning about the cycles of legislation that are tied closely with economic conditions. Following recessions, typically the government attempts to instill more regulatory legislation and that appears to be what President Obama is attempting to do now.
Of course CEO's and big businesses are going to cry out if they feel that their profits are going to be decreased. But if you look at the overall policies that Obama is trying to push have more government involvement than we were used to under the Bush administration, it is certainly not socialist.
Although it is easy to criticize the government, I do believe that we at least should take credit for what we want and say as Americans. Half the time we expect the governments help (such as bailouts, wider health care coverage, welfare...), and the other half of the time we say less government involvement. What citizens should realize is that just because the government steps in, especially for aid they ask for, that it will not mean a revolutionary change from capitalism to socialism. Clearly a lack of education and ignorance from Americans.
As is said in class repeatedly, America is not a socialist economy. Furthermore, I would agree with Kyle, after all of the bailouts it makes sense that Obama would want to increase financial regulations. It is important to try to prevent future recessions. In addition, Obama would be blamed if he was doing nothing to create more jobs with an unemployment rate of 9.7%.
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