Michael Schaus

Jared Bernstein, the man who was formerly responsible for advising Vice President Joe Biden on economic matters (wow . . . that would be a daunting task), has said that if Obama is a socialist, he’s not a particularly good socialist. In fact, he said the President would have to be considered the “worst socialist ever” because the financial markets have been climbing during his Presidency. And to think everyone used to call me names for suggesting socialism is a tool used to prevent mass prosperity.

Al Sharpton, who is still engaged in a lengthy and protracted attempt to host his own television show with some degree of competency, seemed to agree whole heartedly with the Vice President’s former economic advisor. (Is this economic advisor a member of the same team that insisted we could keep our insurance, and that the 2009 stimulus would hold unemployment under 8 percent?)

“They can’t just argue different economic policies or opposition economic proposals. He has to be a socialist. His plan is a job killer. It’s all this name-calling and gutter talk,” said the MSNBC host who has accused Tea Party members of being racist, bigoted and homophobic. . . Irony abounds.

“We've actually been doing okay, maybe even a little better than okay, given the kinds of head winds and dysfunctional policy that this Congress has been throwing at the economy,” Bernstein replied, as if the litmus test for socialist policy is found within the S&P or Dow Jones Industrial.

We have to assume, given Bernstein’s cozy relationship with the socialistically inclined White House, that he was not referring to Obamacare when he referenced all that “dysfunctional policy” coming from DC.

It is true that the market has gone up. Markets tend to do that when a nation begins to devalue its currency en masse, and the government is unapologetically handing out favors to big business. Our “recovery”, however, has been largely the product of imaginative statistics and media spin. Over 91.5 million Americans are now out of the workforce – a 35 year low. A record number of people are now on food stamps, social security disability, and long term unemployment assistance. Full time jobs are drying up faster than private sector health insurance plans, and the underemployment rate continues to climb.


Michael Schaus

Michael Schaus is the Associate Editor for Townhall Finance, and the Executive Producer for Ransom Notes Radio. He is a former talk show host and political activist. Having worked in fields ranging from construction to financial investment, his perspectives and world views are forged with a deep understanding of what it means to be an American.