By Liz Peek
Financial Columnist www.Foxnews.com
Among the many alarming developments of the past several weeks is this: Senator Obama may become President Obama thinking that his economic policies put him in the White House.
It is ironic that the collapse of the financial markets appears likely to cinch Obama’s victory, when in fact he has been virtually mute on how to stem the disaster. While McCain threw himself on the pyre of the economic bonfire, Obama retreated and watched his rival go up in flames. Let’s face it, neither Obama nor McCain can be held accountable for the meltdown of our financial markets. But, voters have turned the crisis into a referendum on Republican economics writ large, and McCain is the loser.
In all the excitement, let us not lose track of the truly alarming economic policies that Senator Obama has previously championed. While some of his proposals appeared merely harmful in good times, in the current maelstrom they turn downright dangerous. Senator Obama, for instance, supports the pro-union Employee Free Choice Act, which virtually eliminates the opportunity for workers to vote for union membership via secret ballot. This could reverse the long-term decline in union membership in the U.S. –- a drop that has helped rein in ballooning and uncompetitive manufacturing costs.
He also endorses policies like extending the Family and Medical Leave Act to companies with as few as 25 employees –- in other words, your neighborhood restaurant. The last thing small businesses –- the most vibrant sector of our economy — need is Big Brother telling them how to manage their employee policies.
He has also advocated a windfall profits tax on oil companies. I cannot think of anything more likely to squelch the much-needed ramping up of spending by energy producers that is currently underway than the specter of a punitive taxation on cyclical profits.
It is, however, Mr. Obama’s populist aversion to free trade that is especially worrisome, since many tie the prolonged depression of the 1930s to a similar brand of protectionism. Obama wants to re-write NAFTA, and has opposed new agreements with countries friendly to us like South Korea and Columbia. In throwing himself in front of these accords, Mr. Obama has shockingly embarrassed our friends, while all the while decrying the demise of U.S. popularity around the world.
Our friends might say, “Actions speak louder than words.” As to actions, is it just my imagination or does the stock market fall off a cliff every time Mr. Obama’s lead widens?
Financial Columnist www.Foxnews.com
Among the many alarming developments of the past several weeks is this: Senator Obama may become President Obama thinking that his economic policies put him in the White House.
It is ironic that the collapse of the financial markets appears likely to cinch Obama’s victory, when in fact he has been virtually mute on how to stem the disaster. While McCain threw himself on the pyre of the economic bonfire, Obama retreated and watched his rival go up in flames. Let’s face it, neither Obama nor McCain can be held accountable for the meltdown of our financial markets. But, voters have turned the crisis into a referendum on Republican economics writ large, and McCain is the loser.
In all the excitement, let us not lose track of the truly alarming economic policies that Senator Obama has previously championed. While some of his proposals appeared merely harmful in good times, in the current maelstrom they turn downright dangerous. Senator Obama, for instance, supports the pro-union Employee Free Choice Act, which virtually eliminates the opportunity for workers to vote for union membership via secret ballot. This could reverse the long-term decline in union membership in the U.S. –- a drop that has helped rein in ballooning and uncompetitive manufacturing costs.
He also endorses policies like extending the Family and Medical Leave Act to companies with as few as 25 employees –- in other words, your neighborhood restaurant. The last thing small businesses –- the most vibrant sector of our economy — need is Big Brother telling them how to manage their employee policies.
He has also advocated a windfall profits tax on oil companies. I cannot think of anything more likely to squelch the much-needed ramping up of spending by energy producers that is currently underway than the specter of a punitive taxation on cyclical profits.
It is, however, Mr. Obama’s populist aversion to free trade that is especially worrisome, since many tie the prolonged depression of the 1930s to a similar brand of protectionism. Obama wants to re-write NAFTA, and has opposed new agreements with countries friendly to us like South Korea and Columbia. In throwing himself in front of these accords, Mr. Obama has shockingly embarrassed our friends, while all the while decrying the demise of U.S. popularity around the world.
Our friends might say, “Actions speak louder than words.” As to actions, is it just my imagination or does the stock market fall off a cliff every time Mr. Obama’s lead widens?
do the research..America is angry~~
