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Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses

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Obama Is Making You Poorer—But Who’s Getting Rich?Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the Obama Is Making You Poorer—But Who’s Getting Rich?Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics. Congressman Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.” And Johan Goldberg, columnist and bestselling author says, “Obamanomics is conservative muckraking at its best and an indispensable field guide to the Obama years.” If you’ve wondered what’s happening to America, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages,” this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.


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Obama Is Making You Poorer—But Who’s Getting Rich?Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the Obama Is Making You Poorer—But Who’s Getting Rich?Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics. Congressman Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.” And Johan Goldberg, columnist and bestselling author says, “Obamanomics is conservative muckraking at its best and an indispensable field guide to the Obama years.” If you’ve wondered what’s happening to America, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages,” this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.

30 review for Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses

  1. 4 out of 5

    Anna

    The first thing I want to say about this book is that while everything the author has to say is true it is a big mistake to make this a Democrat or liberal issue. Compared to Bush, Obama is a great leap forward. But BOTH parties have sold out the American people. Democrat versus Republican is just rearranging the deck chairs on the Titanic. Ron Paul wrote the forward. “In reality, the typical corporate lobbyist opposes free markets and champions corporatism-an economic system where the governmen The first thing I want to say about this book is that while everything the author has to say is true it is a big mistake to make this a Democrat or liberal issue. Compared to Bush, Obama is a great leap forward. But BOTH parties have sold out the American people. Democrat versus Republican is just rearranging the deck chairs on the Titanic. Ron Paul wrote the forward. “In reality, the typical corporate lobbyist opposes free markets and champions corporatism-an economic system where the government intervenes in the economy for the benefit of certain politically connected business interests.” He asserts that Obama is not a socialist, but a corporatist. RP again, “Every libertarian and free-market conservative who still believes that large corporations are trusted allies in the battle for economic liberty needs to read this book, as does every well-meaning liberal who believes that expansions of the welfare-regulatory state are done to benefit the common people.” In my review I want to address the DISEASE and not just the symptoms. If the root of the problem isn't addressed then what is the point? “Fascism should more properly be called corporatism, since it is the merger of state and corporate power.” Benito Mussolini “Socialism is usually defined as gov ownership and/or control over the basic means of production and distribution of goods and services.” Gary Allen And if corporate interests control the government as they mostly do in America then what is going on is socialist/fascist. "In America," Obama said, "we have this strong bias toward individual action. You know, we idolize the John Wayne hero who comes in to correct things with both guns blazing. But individual actions, individual dreams, are not sufficient. We must unite in collective action, build collective institutions and organizations." “The idea that socialism is a share-the-wealth program is strictly a confidence game to get the people to surrender their freedom to an all-powerful collectivist gov. While the Insiders tell us we are building a paradise on earth, we are actually constructing a jail for ourselves.” Gary Allen So what’s really going on? “We are grateful to the Washington Post, The New York Times, Time Magazine… whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subjected to the bright lights of publicity during those years. But, the work is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.” David Rockefeller Did you get that? “The SUPRANATIONAL sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.” In 1972, Brzezinski wrote that the "nation-state as a fundamental unit of man's organized life has ceased to be the principal creative force: INTERNATIONAL BANKS and MULTINATIONAL CORPORATIONS are acting and planning in terms that are far in advance of the political concepts of the nation-state." "But why would some of the richest men in the world financially back communism, the system that was openly vowing to destroy the so called capitalism that made them wealthy? Communism, like plutocracy, is a product of capitalism. Researcher Gary Allen explained it was this way: "If one understands that socialism is not a share-the-wealth program, but is in reality a method to consolidate and control the wealth, then the seeming paradox of super-rich men promoting socialism becomes no paradox at all. Instead, it becomes logical, even the perfect tool for power-seeking megalomaniacs. Communism or more accurately, SOCIALISM, is not a movement of the downtrodden masses, but of the economic elite." Stillmans, Bakers, Paynes, Cullmans, Watsons, Tukes, Kleinwarts, Duponts, Warburgs, Phippses, Graces, Guggenheims, Milners, Drexels, Winthrops, Vanderbilts, Whitneys, Harknesses and other super rich Illuminated families generally get along “Yes, it is a fact: the Mellons, Carnegies, Rothschilds, Rockefellers, Dukes, Astors, Dorrances, Reynoldses, quite well with Communists, who supposedly want to take away the wealth of these men and give it to the people. “However, this is only double talk designed to bolster the superstructure of delusion that Communists are the enemies of all Capitalists. But Communists, like the super rich families, are not the enemies of MONOPOLY CAPITALISM: they are the foes of FREE ENTERPRISE" "The conspiracy facts are that Elite inner circle members of the Bilderbergs (BB), Council on Foreign Relations (CFR), and Trilateral Commission (TC) are conspiring to POLITICALLY and ECONOMICALLY dominate the entire world under their New World Order, more recently called Globalization, or Global Union, Global Economy, Global Order, Global Environment, and like terms. When President G.H.W. Bush used the term New World Order in several of his speeches, it aroused suspicion and concern among the public. So, the Elite selected a generic term "Globalization" to use, and now Americans are no longer alarmed, because the business world uses this term daily, so it must not be so frightening. But, you cannot change a tiger's stripes. We're still talking about the New World Order." So there you have it. The disease is the NEW WORLD ORDER. The money powers (bankers and multinational co) own the government. They want the money and power, to reduce the common man to nothing more than a drone slaving for his daily bread. They are beyond borders in their unbridled greed. "The American Union follows the first step, the European Union, and then the African Union, in the Elite's plan to control the entire world. Next will be the Asian Union, and the Soviet Union, all to be completed between the years 2010 and 2015. This is not my speculation, it's their stated plans, as detailed in a UN document titled Our Global Neighborhood (available in any bookstore, on special order)." This book exposes the symptoms of this agenda, the partnership of big business and big government. One example, regulation doesn’t hurt the big guys. It squeezes out the competition. Obama care is corporate welfare. (Bush’s drug bill was a tax payer funded subsidy to the drug companies. Romney care is corporate welfare.) Carney takes on lobbyists, bail-outs, stimulus plans and the “green racket”. “The Electric Car: A True Government Winner” ”Obamanomics is about Apollo projects and Manhattan projects. Big Ideas and Big Plans, implemented by Big Government, have always appealed to politicians, and apparently to Obama more than most. The new Big Idea in transportation: electric cars, a project that Obama has already supported with billions of taxpayer dollars. Carmaker Tesla, in June 2009, got a $465 million loan from Obama’s Energy Department to work on electric cars. For the same purpose, the administration handed out even bigger loans to Ford ($5.9 BILLION) and Nissan ($1.6 BILLION). Ford president Alan Mulally praised the taxpayer funded loan as “the kind of partnership that will help American manufacturing not just survive, but thrive.” (I have been reading a lot lately about these private/public “partnerships”. In general it usually amounts to the tax payer footing the bill and the private entity pocketing the profits. That is if there are any. Those energy companies (i.e. Solyndra) that went belly up after getting millions of stimulus money….I expect the CEO’s walked with millions nevertheless.) But if these were investments in electric cars and not handouts, then why couldn’t the firms get the loans from a private investment firm? Why was the Obama administration the only willing investor? The Energy Department did not disclose the terms of the loans, but the automakers indicated they were extremely favorable. A Ford spokesman said the interest rate on Ford’s loan would be based on the current U.S. Treasure rate of 3-4 percent. “If it were at market rates it would be in the double digits,” he noted. “That’s a huge thing for us” So, while regular Americans were struggling under double digit credit card rates and resetting adjustable rate mortgages, their tax dollars were providing low-interest loans to automakers. Congress, at the time, was debating just which taxes to hike on the American people but Obama was declaring these loans “will create good jobs.” I heard an economist from some liberal college say in response to each stimulus job costing 100+K....it was worth it! The lunatics are running the asylum now. This book will give you lots of information about what the crooks are up to. I have two criticisms. One, both parties have sold us out. Two, he doesn’t address the root of the problem. “For my part, whatever anguish of spirit it might cost, I am willing to know the whole truth; to know the worst, and to provide for it.” Patrick Henry

  2. 4 out of 5

    Steve

    I disagree with the premise of this book: that Rand Paul-type libertarian economics is a good (or even plausible) way to run our economy. However I gave the book a 3-star “liked it” because of one thing. According to a July 2010 poll 55% of Americans believe Barack Obama is a socialist. This book demonstrates conclusively that he is not. The author makes the case that, far from advocating government ownership of production (socialism), a far more credible argument can be made that Obama defends I disagree with the premise of this book: that Rand Paul-type libertarian economics is a good (or even plausible) way to run our economy. However I gave the book a 3-star “liked it” because of one thing. According to a July 2010 poll 55% of Americans believe Barack Obama is a socialist. This book demonstrates conclusively that he is not. The author makes the case that, far from advocating government ownership of production (socialism), a far more credible argument can be made that Obama defends corporate interests. The author’s solution to this problem is to....wait for it. Elect Republicans! Of course! That’s the party that has proven track record of defending consumers and workers against big business! I disagree with that too, but at least if people would read this book and realize that calling Obama a socialist makes no sense, at least we could take one small step toward a coherent political discourse.

  3. 4 out of 5

    The American Conservative

    'If Obamanomics and the ideas that inform Carney’s writing infiltrate the tea-party set, American conservatism has a shot at becoming something worthwhile again. But the book may be just as important for self-styled anti-movement conservatives. Localists, traditionalists, and other politically endangered species usually turn against libertarian policy goals. They fear the unregulated corrosion of traditional norms and values by the market. Yet as Carney shows us, Big Business, far from regarding 'If Obamanomics and the ideas that inform Carney’s writing infiltrate the tea-party set, American conservatism has a shot at becoming something worthwhile again. But the book may be just as important for self-styled anti-movement conservatives. Localists, traditionalists, and other politically endangered species usually turn against libertarian policy goals. They fear the unregulated corrosion of traditional norms and values by the market. Yet as Carney shows us, Big Business, far from regarding Washington as its enemy, sees the state as a “financier,” “champion,” and “partner”—to quote GE’s Immelt. If you want to whack big corporations, aim at Washington first.' Read the full review, "Big Government, Big Business, Big Rip-Off," on our website: http://www.theamericanconservative.co...

  4. 4 out of 5

    Jonathan

    5/10 The issue with this book is that it points the finger at Obama, without remembering that big business in bed with big government is a bipartisan consensus, and did not arise with the Obama presidency, nor did it die with it. This is not to justify the obeisance that Obama gave to corporations, but it is to say that this is the norm, and not something republicans are immune to, as Carney laughably believes. “How Obama is bankrupting you”, perfect, I’m sure we won’t see any bias here. Carney a 5/10 The issue with this book is that it points the finger at Obama, without remembering that big business in bed with big government is a bipartisan consensus, and did not arise with the Obama presidency, nor did it die with it. This is not to justify the obeisance that Obama gave to corporations, but it is to say that this is the norm, and not something republicans are immune to, as Carney laughably believes. “How Obama is bankrupting you”, perfect, I’m sure we won’t see any bias here. Carney also thinks electric cars are a terrible idea, though hindsight casts a harsh light. Well Obama oversaw a strong rise in the economy over the course of his presidency, so I'm not sure who he bankrupted, and Tesla is doing slightly better than Carney anticipated. Though I suppose the point that Obama is certainly in cahoots with Wall Street is certainly true, and not exactly news. After all, he did bail them out, regardless of your take on reason. Big business and big government are not enemies, but allies. They feed off of one another. The Big Myth, according to Carney, is that the two are bitter enemies. In fairness to the obvious bias from Carney, he also kinda throws Bush under the bus, he just seems to enjoy it more when he does it with Obama. From my perspective then, Obama can be seen primarily as a continuation of the Bush policy of giving to big business. Most of the book is set up in showing how specific Obama programs always end up benefiting large companies more than taxpayers. He goes through half a dozen such programs, and the results are interesting, though rarely surprising. What Carney somehow fails to realize is that just because a company profits doesn’t necessarily mean it’s a bad policy. Though it is clear that the idealism of Obama did not last long into his presidency. A throwaway comment made me like Obama more than I already do, “Obama refunded all lobbyist their checks”, this did not appear to make an impression on Carney however. “He (Obama) really was trying to help the country” Says Carney often, but his heart doesn’t seem to be in it. "Raising the hoop at halftime is fair in that it makes shots just as difficult for each team, but is ultimately unfair because it benefits whoever was up at halftime." This in relation to regulating business, regulations large companies can more easily adapt to than small ones. China buying US bonds, and so owning US debt is something I'm aware of distantly, but I want to look into more at some point.

  5. 5 out of 5

    Don

    More money for more government, this is a sad story of dishonesty in government and wholesale distrust, what do we elect people to do—to be honest and accountable, yet this story is full of government abuse of funds, beginning with cash for clunkers going from a 1B program to 3B program, shenanigans for stimulus might be accurate title or drunk on bail-outs, one follows the money trail to Goldman and GE roots with a corrupting effect upon election donations.

  6. 4 out of 5

    Brian

    Big Business != business; I like business but not Big Business. This book discusses in detail the links between Obama and Big Business, and proposes a way forward. A very thoughtful book that anyone who thinks Obama is fighting for the little guy should read.

  7. 4 out of 5

    Jerry

    Hard to follow w. all the stats, but is very informative.

  8. 5 out of 5

    Kim

    I heard an interview with this author and realized I still have the "Big Ripoff" sitting on my shelf unread, so intend to read both.

  9. 5 out of 5

    Michael

  10. 4 out of 5

    Jose

  11. 5 out of 5

    Drex

  12. 4 out of 5

    Joe

  13. 5 out of 5

    Jason

  14. 5 out of 5

    Jimmie

  15. 4 out of 5

    Jonathan

  16. 4 out of 5

    Drew

  17. 5 out of 5

    Kelly

  18. 5 out of 5

    Daniel

  19. 5 out of 5

    Josh Hanson

  20. 5 out of 5

    Nolan

  21. 5 out of 5

    Greg Shoemaker

  22. 5 out of 5

    Nathan Zatolokin

  23. 4 out of 5

    Lucy

  24. 4 out of 5

    Kristin

  25. 4 out of 5

    Jim

  26. 4 out of 5

    Martina

  27. 5 out of 5

    Nancy Merrow

  28. 4 out of 5

    David

  29. 5 out of 5

    Bill

  30. 4 out of 5

    Tylor

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