Changes

{{see also|Obamunism|American Recovery and Reinvestment Act of 2009}}

{{see also|Obamunism|American Recovery and Reinvestment Act of 2009}}

Critics of the Obama administration have coined the word "[[Obamunism]]" to describe Barack Obama's [[socialism|socialistic]] and "[[fascism]] light" [[economic planning]] policies.<ref>[[Benito Mussolini]] defined fascism as the wedding of state and corporate powers.  Accordingly, trend forecaster [[Gerald Celente]] labels [[Obama administration corporate bailouts|Obama's corporate bailouts]] as being "fascism light" in nature.</ref><ref>{{cite web|url=http://www.thebigmoney.com/articles/daily-intel/2009/07/20/obamunism-inc|work=The Big Money|publisher=WashingtonPost.Newsweek Interactive Co. LLC|format=HTML|language=English|title=Obamunism, Inc.|author=David Sessions|date=July 20, 2009}}</ref><ref>{{cite web|url=http://www.smallbusinessadvocate.com/small-business-interviews/gerald-celente-6944|author=Jim Blasingame|title=Is the government creating a bailout bubble?}}</ref>  Obamunism can also refer to Obama's [[Obama administration fiscal policy|ruinous fiscal policies]] and [[Obama administration monetary policy|reckless monetary policies]].<ref name="gerard">{{cite web|url=http://seekingalpha.com/article/120883-monetary-policynot-obama-s-stimulusis-what-needs-watching|title=Monetary Policy-Not Obama's Stimulus-Is What Needs Watching|author=Gerard Jackson|date=February 16, 2009|work=Seeking Alpha}}</ref><ref name="bam">{{cite web|work=New York Post|date=May 17, 2009|url=http://www.nypost.com/seven/05172009/postopinion/editorials/bams_wise_words_169731.htm|title=BAM'S WISE WORDS}}</ref><ref>{{cite web|url=http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/|title=Bush Deficit vs. Obama Deficit in Pictures|work=The Foundry|publisher=The Heritage Foundation|author=Conn Carroll|date=March 24th, 2009}}</ref>  As seen in his own actions, Barack Obama instructed his advisors to find loopholes that would enable the president to act as a [[dictator]] by pushing through legislation and increases in spending without congressional authority.<ref>http://www.theblaze.com/stories/executive-dictatorship-obama-instructs-advisers-to-push-through-stimulus-projects-without-pesky-congressional-authorization/</ref>   

Critics of the Obama administration have coined the word "[[Obamunism]]" to describe Barack Obama's [[socialism|socialistic]] and "[[fascism]] light" [[economic planning]] policies.<ref>[[Benito Mussolini]] defined fascism as the wedding of state and corporate powers.  Accordingly, trend forecaster [[Gerald Celente]] labels [[Obama administration corporate bailouts|Obama's corporate bailouts]] as being "fascism light" in nature.</ref><ref>{{cite web|url=http://www.thebigmoney.com/articles/daily-intel/2009/07/20/obamunism-inc|work=The Big Money|publisher=WashingtonPost.Newsweek Interactive Co. LLC|format=HTML|language=English|title=Obamunism, Inc.|author=David Sessions|date=July 20, 2009}}</ref><ref>{{cite web|url=http://www.smallbusinessadvocate.com/small-business-interviews/gerald-celente-6944|author=Jim Blasingame|title=Is the government creating a bailout bubble?}}</ref>  Obamunism can also refer to Obama's [[Obama administration fiscal policy|ruinous fiscal policies]] and [[Obama administration monetary policy|reckless monetary policies]].<ref name="gerard">{{cite web|url=http://seekingalpha.com/article/120883-monetary-policynot-obama-s-stimulusis-what-needs-watching|title=Monetary Policy-Not Obama's Stimulus-Is What Needs Watching|author=Gerard Jackson|date=February 16, 2009|work=Seeking Alpha}}</ref><ref name="bam">{{cite web|work=New York Post|date=May 17, 2009|url=http://www.nypost.com/seven/05172009/postopinion/editorials/bams_wise_words_169731.htm|title=BAM'S WISE WORDS}}</ref><ref>{{cite web|url=http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/|title=Bush Deficit vs. Obama Deficit in Pictures|work=The Foundry|publisher=The Heritage Foundation|author=Conn Carroll|date=March 24th, 2009}}</ref>  As seen in his own actions, Barack Obama instructed his advisors to find loopholes that would enable the president to act as a [[dictator]] by pushing through legislation and increases in spending without congressional authority.<ref>http://www.theblaze.com/stories/executive-dictatorship-obama-instructs-advisers-to-push-through-stimulus-projects-without-pesky-congressional-authorization/</ref>   

[[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</ref>  Therefore, the Obama administration bailouts of corrupt, unproductive, and reckless Wall Street firms was hardly surprising, and many argue that it was not helpful in making the United States economy more productive and prosperous by encouraging more risk taking through letting banks off with a slap on the wrist.  Others argue that bailing out the banks kept credit flowing and prevented a much deeper recession and a total collapse of the financial system.  The government will recoup some though not all of its capital infusions over time.  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 allocated using purely business considerations.<ref>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=676905</ref>  Proponents of [[free market]] capitalism said Bernanke should not have bailed out failing firms and instead should have allowed free market capitalism to quickly recover as it did in the depression of 1920 without government intervention (free market capitalists assert that government intervention drags out economic recessions and depressions).<ref>http://www.youtube.com/watch?v=czcUmnsprQI</ref>  

[[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</ref>  Therefore, the Obama administration bailouts of corrupt, unproductive, and reckless Wall Street firms was hardly surprising, and many argue that it was not helpful in making the United States economy more productive and prosperous by encouraging more risk taking through letting banks off with a slap on the wrist.  Others argue that bailing out the banks kept credit flowing and prevented a much deeper recession and a total collapse of the financial system.  The government will recoup some though not all of its capital infusions over time.  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 allocated using purely business considerations.<ref>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=676905</ref>  Proponents of [[free market]] capitalism said Bernanke should not have bailed out failing firms and instead should have allowed free market capitalism to quickly recover as it did in the depression of 1920 without government intervention (free market capitalists assert that government intervention drags out economic recessions and depressions).<ref>http://www.youtube.com/watch?v=czcUmnsprQI</ref>