Wednesday, 25 February 2009 22:30

Obama Outlined Economic Fascism to Congress

Written by  Thomas R. Eddlem

President Barack Obama outlined a financial plan in his February 24 address to Congress that meshes eerily with the fascist economic plan Benito Mussolini enacted after his ascent to power in Italy before the Second World War.

John T. Flynn explained the economic strategy of Il Duce in his timeless book As We Go Marching, summarizing fascism thusly: “we can say that fascism is (1) a capitalist type of economic organization, (2) in which the government accepts responsibility to make the economic system work at full energy, (3) using the device of state-created purchasing power effected by means of government borrowing and spending, and (4) which organizes the economic life of the people into industrial and professional groups to subject the system to control under the supervision of the state.”

Here are Obama’s comments, alongside the 1944 commentary on Mussolini’s economic plan from John T. Flynn’s classic book:

Flynn: “We can say that fascism is (1) a capitalist type of economic organization.”

Obama: “Investors will return to the market, and American families will see their retirement secured once more.  Slowly, but surely, confidence will return, and our economy will recover…. In the wake of war and depression, the GI Bill sent a generation to college and created the largest middle-class in history.  And a twilight struggle for freedom led to a nation of highways, an American on the moon, and an explosion of technology that still shapes our world. In each case, government didn’t supplant private enterprise; it catalyzed private enterprise. It created the conditions for thousands of entrepreneurs and new businesses to adapt and to thrive.”

Flynn: “We can say that fascism is  [an economic system] … (2) in which the government accepts responsibility to make the economic system work at full energy.”

Obama: “We will act with the full force of the federal government to ensure that the major banks that Americans depend on have enough confidence and enough money to lend even in more difficult times…. I ask Congress to move quickly on legislation that will finally reform our outdated regulatory system. It is time to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation, and punishes short-cuts and abuse.”

Flynn: “We can say that fascism is [an economic system] … (3) using the device of state-created purchasing power effected by means of government borrowing and spending.... Men of all sorts believed that the economic system ought to be controlled. Mussolini accepted completely the principle that the capitalist economic system ought to be managed — planned and directed — under the supervision of the state.”


Obama: “The budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care, and education…. Already, we have made an historic investment in education through the economic recovery plan…. We have also made the largest investment in basic research funding in American history — an investment that will spur not only new discoveries in energy, but breakthroughs in medicine, science, and technology…. I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power, advanced biofuels, clean coal, and more fuel-efficient cars and trucks built right here in America…. Our recovery plan will invest in electronic health records and new technology that will reduce errors, bring down costs, ensure privacy, and save lives. ”

Flynn:
“We can say that fascism is  [an economic system] … (4) which organizes the economic life of the people into industrial and professional groups to subject the system to control under the supervision of the state.”

Obama: “I intend to hold these banks fully accountable for the assistance they receive, and this time, they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer. This time, CEOs won’t be able to use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet. Those days are over. Still, this plan will require significant resources from the federal government — and yes, probably more than we’ve already set aside. I ask Congress to move quickly on legislation that will finally reform our outdated regulatory system. It is time to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation, and punishes short-cuts and abuse. ”

Flynn: “But as a matter of fact Mussolini never balanced a budget.... Mussolini made no secret of the fact that he was spending. What he concealed was that he was loading the state with debt.”

Obama:
“Yesterday, I held a fiscal summit where I pledged to cut the deficit in half by the end of my first term in office…. As you can imagine, this is a process that will take some time.”

Flynn: “Mussolini, having incorporated the principle of state-created purchasing power into his system, turned naturally to … money ... spent on highways, schools, public projects of various kinds."

Obama: “I am grateful that this Congress delivered, and pleased to say that the American Recovery and Reinvestment Act is now law. Over the next two years, this plan will save or create 3.5 million jobs. More than 90% of these jobs will be in the private sector — jobs rebuilding our roads and bridges; constructing wind turbines and solar panels; laying broadband and expanding mass transit. Because of this plan, there are teachers who can now keep their jobs and educate our kids. Health care professionals can continue caring for our sick.”

* * *

Americans have a clear choice where they want to go economically. They can choose the road to serfdom through more government regulatory fascism and government-controlled "private" enterprise, or the road to liberty where government gets out of the way of truly free enterprise.

Photo: AP Images

 

Please Log In To Comment
Log in