Obama Issues Fatwa on 34% of U.S. Economy

America's critical industries -- and, by extension, tens of millions of jobs -- are in the cross-hairs of President Obama and his Democrat cohorts. Consider the following statements:

• Obama on 'Face the Nation', September 2009: "...Insurance companies, drug companies are gonna have to be ponying up, partly because right now they're receiving huge subsidies from folks... they're making huge profits on it, Bob. I mean, let's take the Medicare HMO programs that are being run by insurance companies. It's estimated by everybody that they're overcharging by about 14 percent. This amounts to about $177 billion over 10 years. About $17 billion a year, $18 billion a year. That's just going to pad their profits..."

But: "Health Insurance Companies Rank #86 By Industry Profit Margin, Earning $98 on Average Per Policy"

• Obama Health Care Town Hall, August 2009: "...right now drug companies are fighting so that they can keep essentially their patents on their brand-name drugs a lot longer. And if we can make those patents a little bit shorter, generics get on the market sooner, ultimately you as consumers will save money..."

But: "Pharmaceutical companies must make a profit to stay in business. Some charge that drug companies make significantly more profits than companies in other industries. In fact, the profitability of drug companies is in line with other major industries. The research-based pharmaceutical industry also pays more taxes than other industries and reinvests more of its profits in research and development than other industries... [and] 98% of doctors said patent rights were very or somewhat important as an incentive for drug production."

• Obama town hall meeting, 2008: "...[I want] to repeal some of these tax breaks for these oil companies. But I want to do more than that. I also want to go after their windfall profits, take a segment of those profits..."

But: ""...The average net profit margin for the S&P Energy sector, according to figures from Thomson Baseline, is 9.7%. The average for the S&P 500 is 8.5%. So yes, energy companies are more profitable than many others...but not by an inordinate amount. ...Google, for example, reported a net profit margin of 25% in its most recent quarter. Should we have an online advertising windfall profit tax? ...At the end of the day, we shouldn't emulate Venezuela of all places and slap higher taxes on oil companies just because crude is around $120 a barrel. In free markets, there are times when many companies do well and others will not."

• Obama speech on the the Economy, January 2010: "...I won't stop fighting to protect you from the kinds of deceptive practices we've seen from some in the financial sector... We're going to have to do more this year to make sure that banks are responsive to folks who are working hard... I won't stop fighting to make sure there's accountability in our financial system. (Applause.) I'm not going to stop fighting until we have jobs for everybody..."

Jobs for everybody? Jobs for everybody???

The industries that Obama endlessly demagogues, even without considering secondary partners, suppliers and customers, represent more than 34% of the entire U.S. economy and tens of millions of jobs.

And yet Obama continues to lead a Democrat Jihad against them; against their employees, suppliers, customers and shareholders. In fact, every single man, woman and child in this country has a stake in these industries. And yet Obama degrades them; attacks them relentlessly along with his sycophants, surrogates and operatives.

In July of 2009, the American Thinker's Randall Hoven offered excerpts of a speech by the president of the Communist Party of the USA, Sam Webb (hat tip: Mark Levin):

...we can envision winning a Medicare-like public option and then going further in the years ahead... We can visualize passing tough regulatory reforms on the financial industry, which brought the economy to ruin... the expansion of union rights becomes a real possibility... [as does] a second stimulus bill...

...we elected President Obama and a Congress... [and] ...socialism is our objective...

The Right Wing, the American Medical Association, the pharmaceutical and insurance companies have drawn a line in the sand on health care.. restructuring is imperative. The old economic model that rested on bubble economics, cheap labor, financial manipulation and speculation, deregulation, capital outsourcing, environmental degradation, and so forth, has to be replaced by a new model...

A more jaded observer might ask whether Webb is an uncredited speechwriter for President Obama. Put simply, it is clear that Obama has declared a crypto-Marxist Jihad on tens of millions of private sector jobs.

But the American people are growing increasingly angry -- and the Democrat Party is doing to be on the receiving end of that fury in November.


* By the way, is that title politically incorrect? I've gotten a little desensitized by all of the Marxist propaganda disseminated by the Democrats and state-run media, so it's hard for me to tell.


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