The Daily Switch

Archive for December, 2009

New Era of Obama = Same Old Politics

Posted by maker on December 18, 2009

As much as this characterizes our government, it is also becoming a universal sentiment of an entitled society.

Last week, President Obama lashed out at the financial institutions on Wall Street, again.

When the President of the United States flippantly refers to private citizens and their businesses as ‘fat cat bankers on Wall Street’ there is a problem with the president. When the public sees nothing wrong with this, there is a larger problem with the public itself.

The irony of this particular instance of class warfare populism exhibited by Barack Obama, is that as he delivers these remarks, we learn that government employees are much better paid than private workers. This may seem unrelated at first glance, however, the president petulantly proclaimed these so called ‘fat-cats’ the architects of our current recession, seemingly excusing the federal government of any and all responsibility in the matter. I won’t get into all the intricacies and arguments here, but suffice it to say this is a more than generous revision on the president’s part. So the age old question ‘cui bono?’ does not reflect well on those ‘fat cats’ in D.C. if we understand their role in the unraveling of our economy compared to their ever increasing compensation.

The cycle is a vicious yet convenient one: Support and push policies that loudly proclaim help for the helpless while quietly destroying the free market, which action directly creates more ‘helpless’ to promise more for while also creating the circumstances in which people will more likely cede power to ‘the only people’ who can fix things. Oh, and they need to be better compensated for all the extra work of saving us.

In fact, USA Today reported the following:

  • On average, federal employees earned $71,206 per year, compared to $40,331 in the private sector.
  • From December 2007 through June 2009, average federal employee salaries increased by 6.6 percent, while average private-sector salaries increased by 3.9 percent. Federal employees at the top of the pay scale received pay increases of 8.6 percent during that period.
  • Federal employment is getting top-heavy. Federal employees making more than $100,000 increased from 14 percent to 19 percent of total government employment. In fact, the number of federal employees making more than $100,000 has more than doubled in less than two years. There are now more federal employees making more than $100,000 per year than $40,000 per year.

How could anyone say no to this face?

In light of these facts, how can any government employee begrudge any private citizen their salary? The fact is that these ‘fat cats’ on Wall Street are creating something. They are creating jobs and wealth for millions. The ‘fat cats’ in Washington are best known for creating hurdles for those that would create jobs and wealth.

Worse still, Obama warns that the ‘fat cats’ had better stop opposing government control of their pay and strict oversight of their day-to-day operations because, basically, they owe him for the bailout, which coincidentally many of them have paid back and others have been deterred from paying back.

Obama’s ignorance seems only matched and perhaps exceeded by his unmitigated arrogance. These comments were made just before the president was to meet with said ‘fat cats’ to persuade them to comply with his wishes.

Who says this guy isn’t smooth?

Posted in Capitalism, Conservatism, Culture, Economics, Liberalism, Liberty, Obama, Politics, The Daily Switch, War on Business | Tagged: , , , , , , , , , , , , | 1 Comment »