Yesterday while speaking at the Southern Republican Leadership Conference, Rep. Ron Paul (R-TX) explained President Barack Obama’s economic beliefs to attendees:
“In the technical sense, in the economic definition, he is not a socialist,” the Texas Republican said to a smattering of applause at the Southern Republican Leadership Conference.
“He’s a corporatist,” Paul quickly added, meaning the president takes “care of corporations and corporations take over and run the country.”
Republican talk show hosts, such Neal Boortz, Sean Hannity and Rush Limbaugh, often call Obama a socialist (or Marxist), citing health care or some other policy as proof. Corporatism isn’t as well known socialism, a word that brings out a reaction from people, so that’s probably why they choose socialism. Either that or talking about corporatism would make people realize that Republicans are as bad as Obama.
Ron Paul is right. Obama has signed: a health-care bill that mandates we buy private insurance and has the endorsement of the drug industry; a tobacco regulation bill that earned the applause of the largest cigarette company in the country; a credit-card regulation bill that the banks like; a stimulus bill approved by the U.S. Chamber of Commerce and nearly every lobby in the country; a Cash-for-Clunkers bill that subsidized automakers, car-dealers, and more. Also, Obama has a huge corporate lobby on his side for cap-and-trade legislation. Plus, Obama backed the Wall Street bailout, has stuck close to its main authors Ben Bernanke and Tim Geithner, and even expanded the bailout.
Read more about corporatism here.