There are many contestants in the running for the most disingenuous position taken, or statement made by President Obama. So many, that volumes could be filled with his acts of dichotomy, false statements, and flat out whoppers. And those volumes would require an entire building the size of the Smithsonian in which to store them. One of the classic dichotomies of President Obama is something that has weaved its way through his entire tenure as president. It is his demonization of corporate bailouts, while at the same time providing them through his policy.
He began his presidency by rousing the rabble against corporate America while he was providing them with tax payer funded bailouts. Early on in his administration, President Obama sent community agitator types to the homes of AIG executives at the same time he was writing the embattled Insurance company checks totaling in the tens of billions of dollars. He was also using tax payer dollars to bail out the U.S. car industry, General Electric, and so-called green energy companies like Solendra and others. President Obama and his delirious Democrats even wrote into Financial Reform, also known as Dodd/Frank, future bailouts for the country's largest banks.
We have recently learned that the President and his legions of legislative larcenists wrote into the new health care reform law bailouts for insurance companies who, because of the law, have risk models that will not work because they are not getting the young and healthy to sign up in enough numbers to fund the system. Tim Griffin, Republicant House member, has proffered legislation to remove the bailouts. But this may have been unnecessary if Republicants would have read the bill and made the American public aware of its awfulness. The public outcry may have prevented Democrats from even taking up the bill, similar to what happen in 1994 with HillaryCare.
But far from trying to stop tax payer funded bailouts of private sector companies, Republicants have actually enabled them. After all, it was President George W. Bush who laid the ground work for the Obama bailouts with the ill-advised Trouble Asset Relief Program (TARP), during the depths of the financial crisis of 2008. A program sold to the American people as one that would actually return a profit to the treasury, but ended up costing tax payers like every other government expenditure.
Even the trillion dollar stimulus, and the almost half a trillion dollar "son of stimulus" implemented by the Obama administration was a bailout. Most of that money having gone to union thugs, phony green energy companies owned by supporters of the president, and agitator groups like ACORN. Probably the biggest bailout of the Obama presidency has been the one given to Wall Street. To date, Wall Street has benefited from the Federal Reserve's monetary policy either directly or indirectly to the tune of 3 trillion dollars.
Most of the Federal Reserve's bailout of Wall Street has been accomplished with created-out-of-thin-air money. That activity by the central bank reduces the wealth of all Americans by flooding the market with ever more worth less dollars. And at some point the Fed's deleveraging of their spending spree with monopoly money is going to cause significant inflation. But do not hold your breath that there will be any relief for hard working Americans who will pay higher prices for goods and services, while also paying higher taxes to support an ever increasing list of corporate cronies of the president.