Back in the 70’s, 80’s and 90’s, William F. Buckley was considered to be the best political writer on the scene. Now that Buckley is gone and his own son has renounced whatever birthright he was entitled to, Charles Krauthammer has become the premier political pundit of the day.
Krauthammer has penned another awesome essay that is so simply stated and so heavy-hitting that it must be reprinted far and wide.
His latest column deals with Obama’s claims about the causes of the current financial crisis and the cures. I don’t think any other columnist has looked at the issue this way and certainly no left-leaning columnist would even think these things.
From Real Clear Politics;
|“Our economy did not fall into decline overnight,” [Obama] averred. Indeed, it all began before the housing crisis. What did we do wrong? We are paying for past sins in three principal areas: energy, health care, and education — importing too much oil and not finding new sources of energy (as in the Arctic National Wildlife Refuge and the Outer Continental Shelf?), not reforming health care, and tolerating too many bad schools.
The “day of reckoning” has now arrived. And because “it is only by understanding how we arrived at this moment that we’ll be able to lift ourselves out of this predicament,” Obama has come to redeem us with his far-seeing program of universal, heavily nationalized health care; a cap-and-trade tax on energy; and a major federalization of education with universal access to college as the goal.
Obama seems to be blaming the economic crisis on the absence of three things: socialized health care, an economy crushing energy tax and a free college education for everyone.
But, Obama either doesn’t understand the true cause of the economic conditions we now live under or he is deliberately ignoring those causes.
|At the very center of our economic near-depression is a credit bubble, a housing collapse and a systemic failure of the entire banking system. One can come up with a host of causes: Fannie Mae and Freddie Mac pushed by Washington (and greed) into improvident loans, corrupted bond-ratings agencies, insufficient regulation of new and exotic debt instruments, the easy money policy of Alan Greenspan’s Fed, irresponsible bankers pushing (and then unloading in packaged loan instruments) highly dubious mortgages, greedy house-flippers, deceitful homebuyers.
And here is the stroke of insightful genious that is Charles Krauthammer:
|The list is long. But the list of causes of the collapse of the financial system does not include the absence of universal health care, let alone of computerized medical records. Nor the absence of an industry-killing cap-and-trade carbon levy. Nor the lack of college graduates. Indeed, one could perversely make the case that, if anything, the proliferation of overeducated, Gucci-wearing, smart-ass MBAs inventing ever more sophisticated and opaque mathematical models and debt instruments helped get us into this credit catastrophe in the first place.
And yet with our financial house on fire, Obama makes clear both in his speech and his budget that the essence of his presidency will be the transformation of health care, education and energy. Four months after winning the election, six weeks after his swearing in, Obama has yet to unveil a plan to deal with the banking crisis.
Exactly! Obama and his socialist cronies are more than willing to allow the banking crisis to continue so that they will always have a continuous excuse to enact more socialist policies that will allow the government to take more control of our lives. Obama has plans for socializing just about everything, but has absolutely no plan to resolve the economic problems that are most pressing to the American people.
Either Obama is completely clueless about the economy, or he knows it all too well and is deliberately using it to push through a radical agenda.
Wake up, America! If we let this go too far, we will be in the same dire straits as Europe and will have no way of getting out of it any time soon.
You can access the complete column on-line here:
Deception At Core Of Obama Plans
Real Clear Politics
March 6, 2009
Filed under: Corruption, Economy, Government, Politics | Tagged: banking crisis, cap-and-trade, Charles Krauthammer, Chris Buckley, free college, Obama, socialism, socialized medicine, William F. Buckley | 1 Comment »