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Here comes the Obama socialism.

The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.

Gene Sperling, who advises Treasury Secretary Timothy Geithner, said Thursday the administration does not want to impose caps on executive pay. But he also laid out for the House Financial Services Committee a list of guidelines calling on publicly-held companies to link compensation to long-term performance, not short-term gains.

Sperling said in prepared testimony that the administration believes compensation practices “must be better aligned with long-term value and prudent risk management at all firms, and not just for the financial services industry.”

Remember what socialism is?

Socialism is not a concrete philosophy of fixed doctrine and program; its branches advocate a degree of social interventionism and economic rationalization, sometimes opposing each other. Another dividing feature of the socialist movement is the split between reformists and the revolutionaries on how a socialist economy should be established. Some socialists advocate complete nationalization of the means of production, distribution, and exchange; others advocate state control of capital within the framework of a market economy. Socialists inspired by the Soviet model of economic development have advocated the creation of centrally planned economies directed by a state that owns all the means of production. Others, including Yugoslavian, Hungarian, German and Chinese Communists in the 1970s and 1980s, instituted various forms of market socialism, combining co-operative and state ownership models with the free market exchange and free price system (but not free prices for the means of production).^[7]

Social democrats propose selective nationalization of key national industries in mixed economies, with private ownership of property and of profit-making business. Social democrats also promote tax-funded welfare programs and regulation of markets. Many social democrats, particularly in European welfare states, refer to themselves as “socialists”, introducing a degree of ambiguity to the understanding of what the term means.

No matter how Obama spins his program, he wants to nationalize American business and control the means of production while expanding the welfare state.

Is this the hope and change Americans voted for? Or is it a radical program of changing American business by a left-wing extremist?

Duh and remember that there were only three GOP Senators (one who later switched to become a Democrat) who supported the $ 700 Billion Plus bill.

Senate Minority Leader Mitch McConnell said Monday that President Obama’s stimulus package would have little, if any, impact on the economy — and re-stated his opposition to including any public option in the upcoming health care overhaul.

“I’m very skeptical that the spending binge that we’re on is going to produce much good and, even if it does, anytime soon, ” said McConnell. “And I think the economy is just as likely to begin to recover on its own, wholly aside from this, before much of this has an impact. So I’m very skeptical that this massive sort of spending binge that we’ve engaged in is going to have much of an impact.”

Listen here.

With the economy continuing to falter and unemployment at 25 year highs, President Obama today promises the creation of 600,000 jobs this summer.

President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools and summer youth programs.

Obama is ramping up his stimulus program this week even as his advisers are ramping down expectations about when the spending plan will effect a continuing rise in the nation’s unemployment. (See pictures of the global financial crisis.)

Many of the stimulus plans that Obama announced Monday already were in the works, including hundreds of maintenance projects at military bases, about 1,600 state road and airport improvements, and federal money states budgeted for 135,000 teachers, principals and school support staff.

The administration had always viewed the summer as a peak for stimulus spending, as better weather permitted more public works construction and federal agencies had processed requests from states and others.
But Obama now promises an accelerated pace of federal spending over the next few months to boost the economy and produce jobs.

Obama has NO clue abut the role of government and the economy. Massive government spending and deficits will NOT spur the priovate economy and will lead to inflation and slow economic growth.

American business is afraid to act or invest capital – even if they have it. They know that higher taxes are coming to pay for Obama’s massive governmental intrusion into the economy and they will have nothing of it.

The economic stimulus bill was nothing about spurring on the economy. It was all about paying off Obama’s political constituencies.

If the President had been concerned about stimulating the economy, why didn’t he adopt the GOP suggestion of suspending the payroll tax and deliver real relief for taxpayers.

Now, he hits the campaign trail to what?

Spin his failed economic policies, no doubt.

The unemployment numbers are NOT very good and Obama/Biden know they cannot blame Bush about the economy forever.

The jobless rate in May shot up from 8.9 percent to 9.4 percent and 345,000 more jobs were slashed from company payrolls.

So, why not resort to what Obama does best – a speech and a campaign event?

Interesting how the White House trots out Biden on a Friday while Obama is overseas and receiving lots of media exposure.

What does this mean?

The economy still sucks and Obama’s economic stimulus program is not working – just like the GOP maintained.

I would be calling for help as well. The federal government just announced the unemployment rate increased again to 9.4 per cent for May. This is the highest rate in 25 years.

If laid off workers who have given up looking for new jobs or have settled for part time work are included, the unemployment rate would have been 16.4 percent, the highest on records dating to 1994.

The Labor Department also says a total of 14.5 million people were unemployed in May.

Job cuts were smaller than the 520,000 economists expected, while the unemployment rate was higher than the 9.2 percent forecast.

While President Obama is making campaign speeches overseas, his economic policies are not bringing need relief to American workers.

And, rival POLS for the 2012 Presidential election are already starting to CARP.

Alaska governor Sarah Palin let loose Wednesday on the Obama administration for enacting fiscal policies that “fly in the face of principles” and “defy Economics 101.”

In a speech introducing Michael Reagan — the son of former President Ronald Reagan — to an audience in Anchorage, Palin warned that the government is planning to “bail out debt ridden states” so it can “get in there and control the people.”

“Since when can you get out of huge national debt by creating trillions of dollars of new debt?” Palin asked. “It all really is so backwards and skewed as to sound like absolute nonsense when some of this economic policy is explained.”

“We need to be aware of the creation of a fearful population, and fearful lawmakers, being led to believe that big government is the answer, to bail out the private sector, because then government gets to get in there and control it,” she said. “And mark my words, this is going to be next, I fear, bail out next debt-ridden states. Then government gets to get in there and control the people.”

“Some in Washington would approach our economic woes in ways that absolutely defy Economics 101, and they fly in the face of principles, providing opportunity for industrious Americans to succeed or to fail on their own accord,” she said. “Those principles it makes you wonder what the heck some in Washington are trying to accomplish here.”

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So says the latest Radmussen Poll.

The question:

So far, has the economic stimulus plan helped the economy, hurt the economy or had no impact on the economy?

• Helped – 31%
• Hurt – 27%
• No Impact – 31%
• Not Sure – 11%

This approval of Obama’s economic stimulus package is down seven points from when it was first approved in February.

In the meantime, Americans overwhelmingly say former President Bush is too blame for ongoing economic problems.

President Obama contends he inherited the nation’s ongoing economic problems and that his actions since taking office are not to blame. Sixty-two percent (62%) of U.S. voters agree with the president that the problems are due to the recession that began under the Bush administration.

Just 27% of voters say the problems are being caused more by the policies Obama has put in place since taking office, according to a new Rasmussen Reports national telephone survey. Ten percent (10%) are not sure which president is more to blame.

However, Americans are growing restless and those numbers will likely change, if by the end of the summer, the economy has not dramtically improved.

Then, why Mr President have you pushed and signed into law massive government spending programs if America is out of money?

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”

C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.

So we’ve got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it’s putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.

So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.

So, one option is just to do nothing. We say, well, it’s too expensive for us to make some short-term investments in health care. We can’t afford it. We’ve got this big deficit. Let’s just keep the health care system that we’ve got now.

Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything…

SCULLY: When you see GM though as “Government Motors,” you’re reaction?

OBAMA: Well, you know – look we are trying to help an auto industry that is going through a combination of bad decision making over many years and an unprecedented crisis or at least a crisis we haven’t seen since the 1930′s. And you know the economy is going to bounce back and we want to get out of the business of helping auto companies as quickly as we can. I have got more enough to do without that. In the same way that I want to get out of the business of helping banks, but we have to make some strategic decisions about strategic industries…

SCULLY: States like California in desperate financial situation, will you be forced to bail out the states?

OBAMA: No. I think that what you’re seeing in states is that anytime you got a severe recession like this, as I said before, their demands on services are higher. So, they are sending more money out. At the same time, they’re bringing less tax revenue in. And that’s a painful adjustment, what we’re going end up seeing is lot of states making very difficult choices there…

SCULLY: William Howard Taft served on the court after his presidency, would you have any interest in being on the Supreme Court?

OBAMA: You know, I am not sure that I could get through Senate confirmation…

Mr President, you have gone back to smoking crack if you think your health care reform program, Obamacare will ACTUALLY cost the taxpayers LESS than today. It will cost FAR MORE because universal care, unless you ration care and curb utilization, by any standards it will mean more Americans seeking care and more costly treatment. Ask the British and the Canadians about their systems.

Now, if you want to destroy the private medical delivery system in America and allow the Washington bureaucrats decide what care Americans can receive and what doctors patients can see, then you might be able to hold costs increases to a minimum but it will NOT lower the costs or solve the actuarial problems with the Medicare trust fund. But, then, again the quality of care will suffer and moe people will be waiting to see a doctor.

How about supporting some common sense health care reforms and getting REAL with the American public that they will have to pay more though their Medicare payroll taxes to support the current program. How about a little honesty.

And, how about ending your socialist, pie in the sky dream of uinversal health care for America and concentrate the government on helping American business to put people back to work. You know, stimulate business, more employment and hence more tax revenues.

Is this too simple for you?