Obamanomics: How Barack Obama Is Bankrupting You And Enriching His Wall Street Friends, Corporate Lobbyists, And Union Bosses

by Tim Carney

During his campaign, Barack Obama repeatedly promised to defend the little guy against the evils of corporate America. But the reality is precisely the opposite: President Obama's policies are spelling gargantuan profits for the biggest and most well-connected businesses -- at the expense of their competitors, small businesses, consumers and taxpayers. Now, in Obamanomics: How Barack Obama Is Bankrupting You And Enriching His Wall Street Friends, Corporate Lobbyists, And Union Bosses, investigative reporter Tim Carney reveals how Obama's dramatic shift towards big government is yielding huge benefits for big business and their lobbyists -- and losses for average Americans.

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"In brief," writes Carney, "Obamanomics boils down to this: Every time government gets bigger, somebody's getting rich. This book names the names."

• "The Big Myth" that Big Business and Big Government are rivals -- and how it allows Democrats to reward corporate interests to a degree the GOP could never get away with

• The "Four Laws of Obamanomics" -- and the lobbying strategies that exploit these laws

• Election 2008 -- a triumph for Big Business: How Obama's campaign received far more money from the most entrenched special interests than McCain's -- and once Obama won, he assembled a team peppered with masters of the "revolving door" between corporate America and government

• Stimulating K Street: Why lobbyists described Obama's $787 billion stimulus package -- the largest spending bill in history -- as "everything we've been asking for for years, all in one package." Who got what, and how much -- and what this will cost future taxpayers

• How Obamanomics shifts economic power from consumers, workers, and investors to politicians and bureaucrats -- and that's good news for lobbyists

• ObamaCare: "reform" that Big Insurance, Big Pharma and Big Hospital Chains can believe in. How it will increase their profits far beyond anything the free market ever would allow -- at the expense of patients and taxpayers

• Obama's favors to Big Pharma: they went way beyond the pay-offs to get them on board for "reform" -- and included helping the industry tear down Bush-era pro-life regulations limiting federal funding of embryo research

• "Green" is the color of money: How climate change legislation has resulted in a special-interest porkfest -- and a climate bill Obama's own budget director earlier said was "the largest corporate welfare program that has ever been enacted in the history of the United States"

• Grand Theft Auto: How the federal takeover of GM and Chrysler was a perfect storm of liberal corporate welfare, combining favors to the unions that funded Democrats with protectionism -- while fleecing taxpayers, driving up costs, and depriving consumers of choice

• What's Good for Wall Street: How Obamanomics has been a boon to big banks and financial firms -- and even Obama's promises to rein in Wall Street through regulation end up taking the form of helping the Street's fat cats, at the expense of ordinary investors and taxpayers

• Obama to Main Street: "Drop Dead" -- how Obamanomics is taxing and regulating small business out of business. The lesson: be Big or go home

• Obamanomics and GE: Why it's not a stretch to call the corporate behemoth and its media affiliate, NBC, the for-profit arm of the Obama administration

Solution? Carney's answer is different from the answer good- government liberals or out-of-power Republicans are giving today. Carney concludes that because quid-pro-quos and crony capitalism are so powerful in Washington, the only way to get rid of corruption and boondoggles in the high places, is to get rid of the high places. Getting government out of our lives is the only way to take the country back from the new robber barons.