08.09.2012 1

Does Obama want to nationalize every industry?


Photo Credit: White House/Flickr

By Bill Wilson — Obama has declared war on the private ownership and financing of American industry. Obama handed over much of Chrysler and GM to the autoworkers union while destroying bondholders’ stake in the companies.

That is hardly a model for job growth in America, and reeks of Soviet-style industrial planning. Both of these companies were effectively seized by the U.S. Treasury in 2009 while the normal bankruptcy process was disrupted to benefit Obama political cronies.

Obama’s revelation that he wants to this with every industry should send a chill down the spines of every person looking for a job in America. Does he want to nationalize every industry?

Bill Wilson is the President of Americans for Limited Government. You can follow Bill on Twitter at @BillWilsonALG.

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