Saturday, June 13, 2009

Summers Calls Obama Defender of Free Markets

President Barack Obama's chief economist on Friday defended White House economic policies against criticism that they amounted to "a kind of back-door socialism."

Utter nonsense. The same geniuses, or of the same political party, criticized FDR similarly, and look how far FDR's socialism went: it left capitalism vibrant, so that the Republicans could destroy it. See Reagan, Ronald; Bush, George W.

House Minority Whip Eric Cantor of Virginia, the chamber's second-ranking Republican, on Friday likened the president's economic policies to those of Russian Prime Minister Vladimir Putin.

"It is stunning to see someone in the position of Larry Summers having to defend the president's commitment to free-market capitalism," Mr. Cantor said in an interview. "By giving this speech, this administration has signaled perhaps we are losing that America we all know."

Cantor is an utter idiot. Putin isn't a socialist; Russia's communism is done. Putin administers a sort of state capitalism, or corporatism. Cantor is simply using the name Putin to elicit a particular response. Schmuck.

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