As most of you probably know by now, obama gave his big speech trying to be like a roosevelt. The full, very long winded, speech can be found here. I am just going to go over the highlights and explain how terrible this president really is.
The first false argument he makes is in the first paragraph after the introduction.
"Those at the very top grew wealthier from their incomes and investments than every before." Thats correct, the rich are getting richer as pointed out above. But here's the catch, what good does all of that money do people like bill gates? You can only buy so many personal items. so once you've got yor five dream cars five houses and every toy you can think of, you're not even close to 100M. So when you are making billions, like gates, what do you with the rest? INVEST! Now they are trying to make this a dirty word, but it's not at all. It's a wonderful thing. This whole class warfare cry of the liberals and obama is on the premise of "giving back". That's exactly what investing is, they buy parks (zuccotti park is privately owned but reserved for public use), they invest in businesses allowing them to grow more rapidly than they would be able to normally, which increases the number of jobs that are out there. The other thing they do with their money is GIVE TO CHARITIES! Just last year bill gates broke the record for charitable giving. He donated 10 BILLION to a charity for vaccines for children.
So their whole argument is based on the false premise that the rich and ultra rich don't give back. They obviously do, bill gates is not an exception, he is exactly what most rich people are like. He himself said that once you get beyond making a few million, its all the same anyway.
The Oblamer goes on to say that everyone else suffered while the rich got richer, that everyone else had to rack up debt to keep up. Well I'm part of that "everyone else" and since 2008 I have paid off all of my debts and built a savings account the size of about half of my annual income. So no, we didn't ALL struggle. Some did, but they need to take responsibility for their mistakes and improve. If you were living beyond your means prior to the collapse, you probably suffered. The lesson to learn is live within your means and be prepared. Debt is slavery. There are certain things you and I have to go into debt for, but before you go into debt on anything, think long and hard about what it will really cost you and how much it will really benefit you. We all make mistakes and need help sometimes, if this is one of those times for you, seek it. Not from the government (which is just taxpayers) but from family, friends, and charitable organizations.
Of course the rich got richer, how do you think they got rich in the first place? by succeeding when odds were against them. There is no risk free formula to success and riches, otherwise we would all have it.
Moving on, he actually gets something right, but I have to take it out of context slightly for him to be correct:
Throughout the speech he claims the free market never worked. That's a lie. The free market has always worked. He states that it didn't work the decade before the depression... Has he ever heard of the roaring twenties??? If he is trying to blame the free market for the depression he is a moron. The fed OPENLY ADMITS that they were responsible for the great depression, not the free market. He then goes on to say that the 50's and 60's prosperity happened during high taxes. Taxes are only part of the equation and in the 50-60's taxes were only 17% of the economy!! Also, in the 1950's one in twenty workers required permission from the government to do their job. Today its one in three. Combine higher taxes with that and we will be unable to ever get ahead.
He continues to say that bush cut taxes in 2001 and 2003 and it led to slow economic growth. Well, he must not believe that because just a couple weeks ago he told congress to extend those same tax cuts! He is a liar, that is that.
Side note: Another constant theme in his speech is that Republicans want 'survival of the fittest,' and that's true to an extent. He says it like it's a bad thing, but I'd like to point out that natural selection is a proven method of improving, while governments have a history of destroying, not improving. (I.e. Greece, Italy, China, Germany 70 years ago, etc...)
The first false argument he makes is in the first paragraph after the introduction.
Fewer and fewer of the folks who contributed to the success of our economy actually benefitted from that success. Those at the very top grew wealthier from their incomes and investments than ever before. But everyone else struggled with costs that were growing and paychecks that weren’t – and too many families found themselves racking up more and more debt just to keep up."fewer and fewer... benefitted from that success." Well that is just false. In fact, even since the collapse of 2008 the rich have gotten richer and there is a record number of them (so, more and more people are becoming rich).
"Those at the very top grew wealthier from their incomes and investments than every before." Thats correct, the rich are getting richer as pointed out above. But here's the catch, what good does all of that money do people like bill gates? You can only buy so many personal items. so once you've got yor five dream cars five houses and every toy you can think of, you're not even close to 100M. So when you are making billions, like gates, what do you with the rest? INVEST! Now they are trying to make this a dirty word, but it's not at all. It's a wonderful thing. This whole class warfare cry of the liberals and obama is on the premise of "giving back". That's exactly what investing is, they buy parks (zuccotti park is privately owned but reserved for public use), they invest in businesses allowing them to grow more rapidly than they would be able to normally, which increases the number of jobs that are out there. The other thing they do with their money is GIVE TO CHARITIES! Just last year bill gates broke the record for charitable giving. He donated 10 BILLION to a charity for vaccines for children.
So their whole argument is based on the false premise that the rich and ultra rich don't give back. They obviously do, bill gates is not an exception, he is exactly what most rich people are like. He himself said that once you get beyond making a few million, its all the same anyway.
The Oblamer goes on to say that everyone else suffered while the rich got richer, that everyone else had to rack up debt to keep up. Well I'm part of that "everyone else" and since 2008 I have paid off all of my debts and built a savings account the size of about half of my annual income. So no, we didn't ALL struggle. Some did, but they need to take responsibility for their mistakes and improve. If you were living beyond your means prior to the collapse, you probably suffered. The lesson to learn is live within your means and be prepared. Debt is slavery. There are certain things you and I have to go into debt for, but before you go into debt on anything, think long and hard about what it will really cost you and how much it will really benefit you. We all make mistakes and need help sometimes, if this is one of those times for you, seek it. Not from the government (which is just taxpayers) but from family, friends, and charitable organizations.
Of course the rich got richer, how do you think they got rich in the first place? by succeeding when odds were against them. There is no risk free formula to success and riches, otherwise we would all have it.
Moving on, he actually gets something right, but I have to take it out of context slightly for him to be correct:
It combined the breathtaking greed of a few with irresponsibility across the system.Yes, there are greedy evil rich people. But there are even more greedy evil poor and middle class people. He is correct when he says "...with irresponsibility across the system." Yes, the system screwed us into a recession, but it wasn't the capitalist system, it was the government system. He goes on to admit that government agencies saw the problem and ignored it (their job is to find the problems and out them, not ignore them). Which was irresponsible, but it gets worse. Instead letting these firms fail (which would have hurt our economy a lot, but only for a 6 months or so) the government was even more irresponsible and gave them tax payer dollars to "reward" irresponsibility. Earlier in his speech he was reminiscing upon the old america where; "responsibility was rewarded."
Throughout the speech he claims the free market never worked. That's a lie. The free market has always worked. He states that it didn't work the decade before the depression... Has he ever heard of the roaring twenties??? If he is trying to blame the free market for the depression he is a moron. The fed OPENLY ADMITS that they were responsible for the great depression, not the free market. He then goes on to say that the 50's and 60's prosperity happened during high taxes. Taxes are only part of the equation and in the 50-60's taxes were only 17% of the economy!! Also, in the 1950's one in twenty workers required permission from the government to do their job. Today its one in three. Combine higher taxes with that and we will be unable to ever get ahead.
He continues to say that bush cut taxes in 2001 and 2003 and it led to slow economic growth. Well, he must not believe that because just a couple weeks ago he told congress to extend those same tax cuts! He is a liar, that is that.
Side note: Another constant theme in his speech is that Republicans want 'survival of the fittest,' and that's true to an extent. He says it like it's a bad thing, but I'd like to point out that natural selection is a proven method of improving, while governments have a history of destroying, not improving. (I.e. Greece, Italy, China, Germany 70 years ago, etc...)
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