Friday, June 5, 2009

Just How "Socialist" Is The U.S. Under Obama And The Democrats?

On May 20, 2009, the Republican National Committee passed a resolution that concluded as follows:

RESOLVED, that we the members of the Republican National Committee call on the American people to urge the President, the Congress and the Democratic Party to remember what made our country great and to stop pushing our country towards socialism and governmental control.

Actually, this resolution was the "compromise" position. The RNC was originally going to recommend that Democratic Party rename itself the "Democrat Socialist Party." The Republicans must believe that these rhetorical games will revive their party and convince the American electorate that they have the answers to the nation's problems.

So just how "socialist" is the United States under Obama and the Democrats? Conor Clarke of the Atlantic composed the chart above based on information from the Federal Reserve's Flow of Funds Account. The chart's tiny 0.21%, amounting to $82.3 billion, represents nationalized American business assets such as General Motors. The nationalization in that case is temporary and represents an effort to bail out the once mighty auto giant and set it back on its feet.

The remaining 99.79% of the chart represents the portion of American business remaining in non-governmental, private hands, amounting to $39.2 trillion. If the Obama administration and the "Democrat Socialist Party" were determined to seize and nationalize every business and "push our country toward socialism and government control," they'd have an awfully daunting task ahead of them. 

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