This week President Obama presented another weekly address of his Obamanomic talking points.   As with his comments to Joe the Plumber about “spreading the wealth around”, and his Chamber of Commerce speech about “…at some point you have made enough money”…., this address affirms an ideological divergence from free market capitalism.
In his mind, and the mind of his followers, it is not a matter of growing the economy it is a consideration of dividing up the economy to create equity.   Below the video and transcript of his address, I present a rebuttal for your consideration.    Just food for thought on this weekend of an independent nation, contrasted against Obama’s continual ideology of creating a “dependent nation”.

(White House) — Right now, there are a lot of folks who are still struggling with the effects of the recession. They’re wondering how they’d deal with an unexpected expense if their car breaks down. They’re worried about layoffs. They’re not sure if they can help their kids pay for college. And for many families, these challenges were around long before the recession hit in 2007.

I ran for President because I believed in an America where ordinary folks could get ahead; where if you worked hard, you could have a better life. That’s been my focus since I came into office, and that has to be our focus now. It’s one of the reasons why we’re working to reduce our nation’s deficit. Government has to start living within its means, just like families do. We have to cut the spending we can’t afford so we can put the economy on sounder footing, and give our businesses the confidence they need to grow and create jobs.

The good news is, Democrats and Republicans agree on the need to solve the problem. And over the last few weeks, the Vice President and I have gotten both parties to identify more than $1 trillion in spending cuts. That’s trillion with a ‘t.’ But after a decade in which Washington ran up the country’s credit card, we’ve got to find more savings to get out of the red. That means looking at every program and tax break in the budget — every single one — to find places to cut waste and save money. It means we’ll have to make tough decisions and scale back worthy programs. And nothing can be off-limits, including spending in the tax code, particularly the loopholes that benefit very few individuals and corporations.

Now, it would be nice if we could keep every tax break, but we can’t afford them. Because if we choose to keep those tax breaks for millionaires and billionaires, or for hedge fund managers and corporate jet owners, or for oil and gas companies pulling in huge profits without our help — then we’ll have to make even deeper cuts somewhere else. We’ve got to say to a student, ‘You don’t get a college scholarship.’ We have to say to a medical researcher, ‘You can’t do that cancer research.’ We might have to tell seniors, ‘You have to pay more for Medicare.’

The best rebuttal to this narrative was previously shared by British Prime Minister Margaret Thatcher and it’s as poignant today as it was then.

(Hat Tip to Human Events)  Here are the Top 10 Obama Attacks on Capitalism:

1.  Spread wealth around:   This famous utterance—“I think when you spread the wealth around, it’s  good for everybody”—to Joe the Plumber during the 2008 presidential  race, remains the saying that most succinctly sums up Obama’s worldview,  that of a community organizer, which is that accumulated wealth is to  be reviled and rectified through redistribution.  Nothing could be more  antagonistic to entrepreneurship, free markets or business investment  than to have the government seize the rewards of sound economic  decisions in order to try to engineer social equality.

2.  Capital-gains “fairness”:  During  a 2008 presidential debate, Obama gave us another plank in his  Socialist mindset by explaining his view on tax-policy fairness.  When  asked by moderator Charlie Gibson whether he would favor a cut in the  capital gains rate if it led to higher revenues as it did during  previous administrations, Obama said:  “Well, Charlie, what I’ve said is  that I would look at raising the capital gains tax for purposes of  fairness.”  Seizing higher percentages of earnings from those who made  wise investments is preferable to Obama even if it means less tax  dollars for his precious government programs.

3.  ObamaCare by any means:   When battling for his signature health care legislation, Obama saw fit  to carry out daily attacks on insurance companies.  Even the liberal  Washington Post called him out, with an article reporting:  “The  near-daily demonization of the insurance industry is an attempt by the  White House to play to Americans’ anxieties about the health-care  system.”  Typical of his attacks was a speech containing 22 castigations  against the insurance industry, such as, “How much higher do premiums have to rise, before we do something about it?”  We are still waiting, Mr. President.

4.  Bondholders equal speculators:   When negotiating the bailout of General Motors, Obama called the  automaker’s bondholders “speculators” who were “refusing to sacrifice  like everyone else.”  Apparently Obama’s definition of shared sacrifice  didn’t apply to his campaign-backers at the United Auto Workers, which  were handed partial ownership of the company saved from bankruptcy by  taxpayer dollars.

5.  Chamber of Commerce attack:  Obama  demonized the Chamber of Commerce during the midterm election campaign,  accusing the business group, with no proof, of using foreign money to  influence the elections.  “Just  this week, we learned that one of the largest groups paying for these  ads regularly takes in money from foreign corporations.  So groups that  receive foreign money are spending huge sums to influence American  elections,” Obama said on the stump.  “And they won’t tell you where the  money for the ads comes from.”  Going into campaign mode against corporate America with such silliness even had the New York Times complaining.

6.  Class-warfare tactics:   In January 2010, Obama stumped for the Massachusetts Senate campaign of  Martha Coakley, asking the crowd to make a false choice:  “When the  vote comes on taxes, and there’s a choice between giving more tax breaks  to the wealthiest few and corporations that ship American jobs overseas  or giving them to the middle class and businesses that create jobs  here, who’s going to be on your side?”  We all know how well that  campaign rhetoric worked, don’t we, Sen. Brown?

7.  Student-loan penalty for private sector:   Obama laid out a new student loan program in his 2010 State of the  Union address where those who choose a career in public service (working  for the government) get special treatment over those who enter the  private sector.  “Let’s  tell another 1 million students that when they graduate, they will be  required to pay only 10% of their income on student loans, and all of  their debt will be forgiven after 20 years, and forgiven after 10 years  if they choose a career in public service.”  Do we really need more  incentives for government workers?

8.  Stop making money:   It just pains the President when someone is successful in the financial  world.  During his campaign to pass the Dodd-Frank financial reform  monstrosity, Obama let his true feelings show:  “We’re not trying to  push financial reform because we begrudge success that’s fairly earned.   I mean, I do think at a certain point you’ve made enough money.”

9.  Boeing silence:   That Obama doesn’t want to talk about the National Labor Relations  Board’s Boeing action speaks volumes.  The Obama-packed NLRB suit to  deny Boeing’s attempt to open a new plant, creating jobs, in South  Carolina because it is a right-to-work state strikes at the heart of our  capitalist system.  But when asked about the ruling, White House  spokesman Jay Carney said:  “We do not get involved in particular enforcement matters of independent agencies.”

10.  Leave corporate America:   Michelle Obama, during the 2008 presidential race, described her and  her husband’s philosophy on the superiority of public service over the  business world:  “We left corporate America, which is a lot of what  we’re asking young people to do.  Don’t go into corporate America.  You  know, become teachers.  Work for the community.  Be social workers.  Be a  nurse.”  Because, you know, community activists are so much more  valuable than corporate leaders.