The Brian Sullivan Blog
  • March 9, 2009 10:38 AM EDT by Brian Sullivan

    The President Must Realize The "Socialist" Questions Are Fair

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    Yesterday the President felt the need to re-respond to a question posed to him a few days ago by a New York Times reporter about whether he is a Socialist.    The President initially dismissed the question as a joke by the reporter, but apparently felt that perhaps he needed to take it more seriously.

    Here is an except from the story today in today's Washington Times, quoting Obama as he describes the preexisting financial condition he inherited:

    "I did think it might be useful to point out that it wasn’t under me that we started buying a bunch of shares of banks. It wasn’t on my watch. And it wasn’t on my watch that we passed a massive new entitlement -– the prescription drug plan -- without a source of funding. And so I think it’s important just to note when you start hearing folks throw these words around that we’ve actually been operating in a way that has been entirely consistent with free-market principles and that some of the same folks who are throwing the word 'socialist' around can’t say the same."

    The New York Times asked, "So whose watch are we talking about here?" but Obama wouldn't name names.

    "Well, I just think it’s clear by the time we got here, there already had been an enormous infusion of taxpayer money into the financial system. And the thing I constantly try to emphasize to people if that coming in, the market was doing fine, nobody would be happier than me to stay out of it. I have more than enough to do without having to worry the financial system. The fact that we’ve had to take these extraordinary measures and intervene is not an indication of my ideological preference, but an indication of the degree to which lax regulation and extravagant risk taking has precipitated a crisis."

    The President is correct when he says many of the economic and financial problems we have now are ones that have been building for a few years.    Over the last few years it is clear that both President Bush and Congress were asleep at the regulatory switch.    Everyone - consumers, Bush, Congress - had a part in this mess.   Congress reaped the political and financial rewards of the housing boom.   Consumers were told and sold the idea that houses never go down in price so don't worry about the funny loan, you can always sell.

    But that's now history, and the President seems to be confusing American frustration over what he "inherited" than what he and his Congress are doing now.   The "socialist" line of questions has less to do with the financial bailout and more to do with the public frustration over the $787 billion dollar spending plan.    Obama continues to put the financial blame squarely on the mistakes of the past seemingly without realizing Americans are now more focused on the massive entitlement and social program spending in the stimulus plan.    A quick check of the planned spending by one state discussed on my blog this weekend - Wisconsin - makes it clear that while the it is the states and not the Federal government that will determine many of the beneficiaries of this financial largesse, federal taxpayer dollars are going to fund these programs.

    President Obama is not a Socialist.    He is merely doing what he feels is best for the country and those who voted for him and there are few checks and balances to counter it.   But the President must also realize that given the hundreds of billions in taxpayer dollars being spent on social and entitlement programs that will result in little to no economic stimulus, the line of questioning in both serious and fair.   He should not take the American public skepticism lightly and should address this issue more convincingly.

cf

President Obama/Rahm Emanual are doing what they said they would do during the campaign, take your money & give it to your neighbors. If you work two or three jobs to pay for school or a home you can share your wealth. BTW President Obama's parents both had numerous degrees. He seems to have created a distortation of the facts. "Vote Buying, Unions, Corruption, Nepotism & Taxes" is the 'CHICAGO WAY' (I am a resident of & was born & raised in Illinois ). Rahm in 1999, became a managing director at Wasserstein Perella (now Dresdner Kleinwort), Emanuel made $16.2 million in his two-and-a-half-year stint as a banker, according to Congressional disclosures.Emanuel was named to the Board of Directors for the Federal Home Loan Mortgage Corporation ("Freddie Mac") by then President Bill Clinton in 2000. His position paid him $31,060 in 2000 and $231,655 in 2001.[29] During the time Emanuel spent on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities.[30] The Office of Federal Housing Enterprise Oversight (OFHEO) later accused the board of having "failed in its duty to follow up on matters brought to its attention." Emanuel resigned from the board in 2001 when he ran for congress

March 12, 2009 at 7:11 pm

Econ Guy

Where can we find the list of college economics courses that Obama has taken, who taught those courses, and what grades he made? The answers and non-answers that he has given about socialism give me serious doubts about the depth of his understanding of economics. If I had said the stammering and stuttering kinds of things he has said, I would have flunked my sophomore-level classes. I'm not being mean to the guy, just honest.

March 12, 2009 at 4:25 pm

JIm

I am not sure either party can govern, but I do know what to do about the current lack of leadership and disaster that everyone is talking about but doing nothing to fix, that is to vote all the members out of congress at the next election. I mean everyone of them. That is the only way to change this mess. Yes that may make it worst for the short term, but it will change the direction over the long run. Vote all of them out!!!!!

March 12, 2009 at 12:50 pm

lazor

bush tried to reign in the affirmative action mortgage loans BUT the democrats who have been in charge since 2006 beat it down every time. barney franks, harry ried, cris dodd, and nancy pelozi forced banks to make these loans so they can do a news conference pound their chest and say LOOK HOW MANY PEOPLE WE DEMOCRATS PUT IN HOMES

March 12, 2009 at 10:49 am

Proud American

Obama is right, he is not a socialist. He walks like a marxist, quacks like a marxist, so he is a MARXIST not a socialist. Socialist is an understatement.

March 12, 2009 at 7:46 am

Will

Socialist, schmocialist. How about pragmatist? Where do we draw the line? Are public highways socialism? Are public schools socialism? Is a publicly financed police department and military socialism? Is public housing socialist? Are public hospitals socialist?

March 11, 2009 at 2:49 pm

tidho

The solution to nearly all our problems is jobs. Obama wants to raise taxes on small business owners to pay for entitlements. He refuses to lower corporate income taxes because he has entitlements to pay for. He wants to raise capital gains taxes because he has entitelments to pay for. All of those things put the country at a competative disadvantage compared to China and India. We're just going to continue to bleed jobs until someone is willing to risk the wrath of the poor majority and fix the root causes of our employment problem.

March 11, 2009 at 2:26 pm

Not a media sheep

Wow it just amazes me that George inheireted Bill Clinton lack of action on many fronts and the press just skimmed over that! I don't know if you folks have forgotten that George was in office just a few months when he/we received a welcome package called 911 and the Dem's cried so hard about the lack of leadership and how could George have let this happen or even that George was behind it! Now this Brian Sullivan believes that Americans are merely sheep and have no intellect in deciphering what a Socialist smells like when millions of us can clearly see it to the north in Canada and across the pond in Europe too! Brian I find your article very bias and nothing short of pure rubbish and why can't the Dem's face up to their real part in this mess that they the Dem's have run the Banking committee for longer then GW was is office.

March 11, 2009 at 10:05 am

J

Taxing the small business owners is not the answer. What makes it OK for "them" to be taxed? Most small business owners fall into Obama's "rich" category, which seems to keep included a wider & wider range of incomes. That is THEIR money, earned by the means that our founding fathers had in mind. Who is the government to take it away? You can't help those who aren't motivated enough to help themselves. As my father always says--"I can spend my own money better than the government can". I want their hand out of my wallet.

March 11, 2009 at 7:53 am

J

I side with Adam--taxing those who stimulate the economy is not the answer. I don't know if ppl realize this, but those falling into Obama's "rich" category ARE the small business owners. What makes it OK for "them" to be taxed? We should all hope to be as successful as they are one day. As one of my family members always says--"I can spend my own money better than the government can."

March 11, 2009 at 7:48 am

Kraut

Obama is not even a socialist anymore. This guy is trying to implement the Marxist ideas - meaning he is a Communist. On top of it, he surrounds himself with people who remind you of a certain regime in Germany, swaying people with PR, like the pied piper. This guy and his sidekicks will be the downfall of the US. I lived with it (Socialism and and next to Communism) for a long time - I can see the signs. It is disgusting.

March 10, 2009 at 4:07 pm

Simon Templar

Well, you may not think that bam bam is not a socialist but Mr. Webb, the President of the Cleveland Chapter of the American Communist Party, thinks he is an ally and freind. That's dangerous and anti-American enough to me....Please, if he were, do you really believe he would admit this to the New York Times! I am not interested in trying to prove or disprove this, nor should anyone at Fox News. Deal with the issues and reality now before the country is completely and irreversibly destroyed, you fools! If you can not, may I suggest you resign from your media jobs and let someone else with balls, guts, and spines take those positions and return the American Press to its original and honored place in the American democracy.

March 10, 2009 at 3:52 pm

Cats

You say that Barack Obama is not a Socialist. I strongly disagree. We are witnessing one of the greatest wealth transfers in the history of this country. We are witnessing an assault on those who produce and create wealth unlike any other in recent times. We have a President who clearly proclaims that only government can solve the current economic problems and who has said not a word about growth of the private sector and private sector jobs as part of the future. The majority of people voted for someone who promised "change". Is what they are now seeing really the change they wanted? I wonder.

March 10, 2009 at 2:05 pm

sustainablehome

"President Obama is not a Socialist. He is merely doing what he feels is best for the country and those who voted for him and there are few checks and balances to counter it." Wrong. He's a socialist and a good chunk of those who voted for him desire a socialist society. Even those who didn't (every member of Congress who adds earmarks to bills) desire a more socialist society. Why pay for anything yourself? The Federal government should. All the cities and states running around, asking, "Where's my stimulus?" and news reports for citizens, asking the same question. This has been many years in the making, leading to the "Perfect Storm" of Obama being elected who will not question expanding the bloat of the Federal government.

March 10, 2009 at 1:38 pm

ItsNotSocialism

It's not socialism It's an emergency correcton to CRIMINAL abuse of the FREE MARKETS as they had been LOOTED for 8 years. Pay more taxes ? or go get your head blown off in the name of God or Oil - YOU decide on the battlefield what you put your life on the line for. Fox sues Treasury on Freedom of Information - good move US Soliders SUE the US ? GREAT MOVE Any good lawyer would see that since there were no grounds for going to Iraq now ? ALL US Soldiers can SUE CIVILLY - and I'd side bet they win, REGARDLESS of how much Condi Rice thinks it upped Jesus score points for her personal SELFISH afterlife plan. It's never OUT afterlife plan is it ? MINE MINE MINE capitalistpig.com Jonathon - go live alone, and while you're at it - figure out the second part. America grows up - age 21, in 2009. Gee adolescence is over now folks - it's not socialism - it's CORRECTION and REPAIR from CRIMINAL damage. And don't take MY word for it There IS no recession ! I need to find a clip of that POST December 2nd - that would be golden. remember, if you lack integrity or humility ? you might as well be in a coma because nothing can have any MEANING in your life - it's ALL fantasy at that point. TAKE the hit - grow and move on - FBN needs to START by removing itself from the airways to correct the damage IT did - seems FCC will be doing that coupled with DOJ JUST FINE by my standards - I am just a BIT impatient these days.

March 10, 2009 at 12:37 pm

Nelson

To call Obama a socialist is umfair. Any good socialist has an adjenda, this idiot does not have a clue, let alone an adjenda. This afermitive action president is nothing more than a puppet of the left wing democrats, who see this as their big chance to buy votes and power. Obama is nothing but a very bad joke being played on the american public. The sooner we put him out of our misery, the better.

March 10, 2009 at 12:32 pm

MARC

As much as he has twisted the truth, basically lyed to the American people and continues to lie and thinks we are dumb and cannot see thru his smoke screen who knows what the truth is with him and his administration.

March 10, 2009 at 12:15 pm

Joe

Did George Bush not already cause a redistribution of wealth through his tax polocies that have taken money out of the pockets of the middle class and redistributed those same monies to the wealthy and big business, you know, those that Bush really cared about. No one seems to get the point that the middle class is the market big business wants to exploit. With less and less money in their pockets is it really a shock that demand in almost all sectors of our economy is down? Keep polocies in place that encourage a few top executives to be given huge bonuses while numerous masses across our country continue to lose their jobs, and watch businesses continue to struggle and fail at alarming rates. Simply amazing.

March 10, 2009 at 12:13 pm

Jay Fort

Obama is a nightmare, check out this story on Bloomberg about the Manchurian president: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amhpOT5rlR1Y Are you sure he's not doing it on purpose? Are you sure he is not intentionally trying to kill this country's economic engine in order to create a larger union/democrat/government entitlement dependent voting class? Add a little gerry- mandering with the census and the 22nd amendment and wa-la : We have our own Chavez! Bill filed 1/9/09 in the uS house of Reps, to repeal term limits for president: http://www.opencongress.org/tools/bill_status?bill_id=111-hj5

March 10, 2009 at 12:12 pm

Ed

To state flat out that Obama is not a socialist ignores much evidence to the contrary. Consider the issue of heritage: Obama's grandfather was an admitted communist; his father was far left as well. While these two gentlemen had little to do with the upbrining and development of young Obama, his mother (far left) did have a profound impact on the future President. While he was in high school in Hawaii, his mentor and confidant was an avowed communist. Then consider that Obama, after presiding over the Harvard Law Review and graduating from Harvard Law, shunned lucrative offers from legal firms to take up community organizing in Chicago. Also consider the company that he kept - - again hard left. During his candidacy, and now that he is President, his proposals are all about redistribution of wealth. All of this evidence is a matter of record. Obama's lawyerly evasions aside, both his words and deeds are hard left. With all of these "red flags", how could anyone not conclude that he is a socialist.

March 10, 2009 at 11:57 am

dc

There are two branches of socialism: the left-wing branch, which is communism and the right-wing branch, which is fascism. Most people mistakenly associate fascism with the right, but it was actually the right wing of the left (Mussolini and Hitler were both self-described socialists). Fascism still believes in the government controlling everything, but allows private businesses to exist and thrive--as long as they carry out the desires of the national government. And fascist governments will use extreme manipulation of the press and whatever other propaganda they need to ensure compliance. I believe the current administration is fascist, not communist. I don't believe they want to completely destroy the wealth base of the country, but they do want to co-opt it for their purposes. Wealthy investors like Warren Buffet are not a threat to them, but independent-minded small businesses like Joe the Plumber are.

March 10, 2009 at 10:22 am

movers

What I don't get is if we were watching what is happening to the US in lets's say Bolivia (government control of major banks, autos, insurance and heading towards government control of health care)you would see stories on the mainstream news about the socialization of that country. The same is happening here and it is like ho hum for most of the media..........but we are America...but what makes us America our name or our actions?

March 10, 2009 at 9:13 am

Mark

If you don't think our government is socialist, than you have no idea what socialism is

March 9, 2009 at 11:37 pm

lis

What you expect he is only from south side chicago his job only to get welfare for his cronies ..dangerous he does,t know mean socialist either lier or stupid or both?

March 9, 2009 at 10:16 pm

JC

No, Obama is not just a Socialist, he's a Communist ! Give him enough time, and his true colors will shine through. He totally misrepresented himself during the Presidential election. He deliberately deceived the American public, acting like a moderate, when all along "change" meant Socialism (maybe communism). He despises anyone who has accumulated wealth. Somehow he reasons that "fairness" is having Government taking (it's stealing) disproportionately more money from one group of people and giving it to another group.... That's Obama's version of communism. Give him enough rope and he will ruin America !

March 9, 2009 at 9:45 pm

about this blog

  • Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block. Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.

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