I think that anyone would be hard pressed to put up much of a defense against the claim that Obama is a socialist… the best that they can seem to do is to go into some hair-splitting tangential discussion on the exact definition of socialism rather than the merits of Obama’s purely collectivist plans and proposals. They have lost the debate before it begins with that approach.
But Morris&McGann go one further: in a piece titled Does Obama Know What He’s Doing? they argue not only that he is a socialist but that he is an incompetent one . After pointing out that he left the stimulus package up to Pelosi and Reid, Morris speaks to the bank relief and mortgage crisis plans. After acknowledging that Obama may not care as much about the banking system (Morris opines “Those are Republican interest groups, right?”), he gets to the mortgage bailout plans:
But this plan, too, falls far short of the mark.
Incredibly, it excludes anyone who has lost their job and can’t afford to make their payments even if they were to spend 31 percent of their income trying to do so. If you can’t come close to affording your mortgage, even if only because of a (hopefully temporary) loss of employment, forget about it: Obama is not going to help you.
Nor will he help you if your mortgage exceeds your home’s value. One out of five mortgages now falls into this category – and the continued fall in property values will put more and more homeowners in it. But they can expect no help from Obama’s rescue plan.
Why would a liberal be so callous? Why would he leave so many out in the cold? Could it be that the administration simply can’t figure out how to help these folks? That the president couldn’t devise a counter to his financial advisers, who presumably wanted to exclude these folks?
It was Clinton-era Housing Secretary Henry Cisneros who urged Fannie Mae to spend 42 percent of its money buying mortgages for lower-income people and who suggested that they no longer require down payments. And it was his successor, Andrew Cuomo, who upped the ante to 50 percent of the Fannie Mae portfolio.
After Democrats inveigled people to buy homes they could not afford, how can they justify passing a plan that excludes them from assistance?
It appears that Obama is at sea when it comes to financial policy, economic-recovery planning and credit-rescue efforts. We’re stuck not only with a socialist but seemingly an incompetent one.
<BAM!> – That was the sound of a big framing hammer sinking a 16 penny nail.
I guess that I would prefer incompetent socialists to competent ones, at least while the battle is still on for the “hearts and minds” of Americans.