Obama Lied To Us Tonight About The Economy (VIDEO)

Folks, this is just one of many things Obama has said that are untrue about our economy, government spending, socialism, the private sector, the “New Deal,” and Japan’s failed attempt at Socialism. I won’t waste your time here with the video of his speech tonight, but I do want to provide you with some insight and TRUTH about the New Deal, Japan’s economy, etc., and how it is the absolute opposite of what Obama spoke about tonight.

Today on Glenn Beck, he had on guests Thomas Woods, author of “Meltdown,” and Burton W. Folsem, Jr., author of “New Deal, Raw Deal” to talk about the so-called stimulus plan proposed by the Democrat majority and their “dear leader,” BHO. Both reveal the truth about what the New Deal and Japan’s economic plans failed at miserably, and their educated history lessons should be a warning to us all.

From the Ludwig von Mises Institute:

President Obama is under the impression that history owes him $1 trillion right now to spend on whatever he wants. His language is strident and full of irritation that anyone would question his right to live out his personal dream of being Franklin Roosevelt to George Bush’s Hoover. This, he says, is what the election was all about.

The arrogance reminds me of George Bush after 9-11, who similarly believed that history owed him a gargantuan war in the tradition of FDR. And look how that arrogance led to disgrace and loss, as he unwittingly presided over the destruction of American prosperity while searching for bugbears abroad.

It just goes to show you that the presidency is something like a drug. It makes people lose all connection to reality. Part of the reality that Obama needs to recognize is that the New Deal was a calamity far worse than the initial market downturn that began it. He needs to stop basing his policies on dumbed-down civics texts versions of events and consider the economic logic.

With his rhetoric and policies, he has decided to demonize private enterprise, just as FDR did, as a way to present government as the great savior. Now, think about this. If there is a way out of the recession, it will have to be provided by private enterprise. It will come by new businesses, business expansions, entrepreneurship, new technology, and this will be the source of lasting jobs and prosperity.

You cannot make a country rich by looting taxpayers and paying people to pound nails into siding at public schools! These activities amount to capital consumption. They are not sources of investment. You can say that they are stupid tasks or wonderful tasks, but it is not a matter of ideology as to whether such public projects will make us all wealthier. They will not. They drain the sources of wealth from society. They represent a cost, not a blessing.

Throwing money at the problem does not work. I hope we do learn from history; if we don’t, we are doomed to repeat it.

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