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History of the Democrat party under Barack Obama (view source)
Revision as of 22:29, December 23, 2018
, 22:29, December 23, 2018→Regressive economic policy
==Regressive economic policy==
==Regressive economic policy==
:{{See also|Socialism|Democratic Socialism}}
:{{See also|Socialism|Democratic Socialism}}
Obamunism originally referred to Obama's [[Obama administration fiscal policy|ruinous fiscal policies]] and [[Obama administration monetary policy|reckless monetary policies]] which have contributed to [[Barack Obama and United States Unemployment|high unemployment rates in the United States]].
[[Wall Street]] firms and banks that were bailed out were among Obama's biggest campaign supporters.<ref>[http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638 Top Contributors to Barack Obama, 2008 Cycle]</ref> Therefore, the Obama administration bailouts of corrupt, unproductive, and reckless Wall Street firms was hardly surprising, although it certainly was not helpful in making the United States economy more productive and prosperous. A 2005 study found that government corporate bailouts are often done for mere political considerations and the economic resources allocated exhibit significantly worse economic performance than resources that are invested using purely business considerations.<ref>[http://papers.ssrn.com/sol3/papers.cfm?abstract_id=676905 Political Connections and Corporate Bailouts]</ref>
Accordingly, trend forecaster [[Gerald Celente]] labels [[Obama administration corporate bailouts|Obama's corporate bailouts]] as being "fascism light" in nature).<ref>[http://nymag.com/daily/intelligencer/2009/07/meet_manhattans_anti-obama_pro.html Obamunism, Inc.]</ref><ref>[http://www.smallbusinessadvocate.com/small-business-interviews/gerald-celente-6944 Is the government creating a bailout bubble?]</ref>
===Indebtedness to Communist China===
===Indebtedness to Communist China===
[[File:Unemployment.jpg|right|300px|thumb| [https://hotair.com/greenroom/archives/2009/07/19/the-anti-stimulus-in-pictures-any-questions/?print=1 ''Chart courtesy Doug Ross @ Journal''] ]]
[[File:Unemployment.jpg|right|300px|thumb| [https://hotair.com/greenroom/archives/2009/07/19/the-anti-stimulus-in-pictures-any-questions/?print=1 ''Chart courtesy Doug Ross @ Journal''] ]]