 |
 |
Get
Updates |
The Bush Administration has been touted as the most C.E.O.
friendly cabinet ever devised in the history of American
politics. The fact that the individuals that are associated with
big business have all worked for companies that depend on
regulation and powerful lobbies should also be noted. These ex-C.E.O.’s
depended more on crony capitalism, rather than free-market
capitalism which shows they care more for their own pockets than
for the market. A look at their economic policies since their
regime stole the presidency is an indicator that they are
friendlier to their own financial and political interests than
the country as a whole.
First, Bush signed a tax-cut. Although popular with voters,
it is an example of irresponsible policy making. It was widely
know, even in Clinton’s last year, that the country was headed
toward financial woes. Clinton did much to combat this
inevitable slide including taxing the most rich, cutting taxes
for the poorest, and signing into law the reduction of the
national debt by more than two trillion dollars. Bush reversed
these trends and worsened an already fragile market. He did this
through one irresponsible act after another. The tax-cut that
gave each family a meager check, but then prevented our economy
from rebounding.
Bush also imposed high tariffs on foreign steel. This made
the markets in this country less competitive, further driving up
the prices for the domestic steel users. We are supposed to be
the leaders of the world in free trade markets, but this move
proved that the Bush administration had cronies in the domestic
steel industry in mind over the people in this country. This
move also alienated the world steel industry. It is moves like
these that get forgotten in "war on terror" headlines
that need to show the true priorities of the Bush
administration.
Bush also signed a farm bill that gave enormous subsidies to
agribusiness. This again hurt consumers by driving up the prices
of food. This move puzzled especially conservative lawmakers who
have always fought against government involvement in regulating
business. The only conclusion that can be conceived for this
move is to understand Bush’s need for votes in farm subsidized
states.
A look at the types of businesses Bush’s administration
comes from is a clear indicator of their loyalty – companies
that rely on lobbying and political connections, not free-market
capitalism. All his main players come from companies that depend
largely on protected or regulated industries for the success of
the business. None of them come from companies that are involved
in competitive, entrepreneurial businesses. The oil and gas
industry, aluminum, energy, and the military industry are all
examples of companies that depend on lobbyists that guarantee
the success of their business.
It is time the truth of Bush’s economic policy comes out
from behind the veil of capitalism, to be seen what it truly is
-- Crony capitalism. Instead of pressing for systemic reform
that is badly needed to combat corporate corruption, he
continues to hurt Wall Street with his soft hand towards big
business. Even though his strong rhetoric on his
corporate-accountability campaign (a smoke screen for winning
favor for a war against Iraq and exploiting the war on terror
for party financial gains), he continues to not respond to the
failing economy. Now that our unemployment rate is on the rise
he certainly needs to take some action. But we can expect the
least amount of intervention needed to appease voters and, once
again he stays in the corner of big businesses, especially ones
that are dependent on government policy, lobbyists, and
political contacts. The same ones particularly friendly
with his business partners in his administration.
A list of Bush
administration officials and the companies they came from
follows.
George Bush – Harken Oil
Dick Cheney – Halliburton
Treasury Secretary Paul O’Neill – Alcoa
Secretary of Commerce Donald Evans – Mitch Daniels
(oil-and-gas company)
Head of the Office of Management and Budget – Vice-president
of Eli Lilly
Army Secretary Thomas White – Head of energy trading at Enron
Air Force Secretary James Roche – Northrup Grumman
Navy Secretary Gordon Engalnd – General Dynamics
See
Mario's Mail
|
Shop PUSA
Dirty Political Tricks
by Anonymous
Scan your PC for viruses now!
Magazine of the Month
Shakedown
: Exposing the Real Jesse Jackson
by Kenneth R. Timmerman
Leather -
Sale (30 to 50% off)
Shop for Your Princess at DisneyStore.com 
Slander
by Ann Coulter
DVD's Under $10 at buy.com!
Cigar.com
|
