During the presidential campaign, John McCain accused Obama for being a socialist. True enough, Obama is now showing the world that socialism can mix with a market economy. Newsweek asserts that socialism in America did not start with Obama but with his predecessor George W. Bush who nationalized Freddie Mac and Fannie Mae, the two mortgage giants. In the light of the current economic crisis, the American people will think hard about their mixed economy in the immediate future.

Socialism is no longer a dirty word in America. Especially not now that the ordinary Americans are starting to feel what the experts have only been calling as economic meltdown. And most especially that the excesses of Wall Street executives have been disclosed to the public. The ordinary American citizens are now seeing the benefits behind companies and industries being beholden to the dictates of the taxes they pay their country. They now see that socialism may just be the way to curb the excesses and greed of capitalists that inhabit their country’s financial industry.

Obama is a man that drifts along the tides of the times. The conditions in the financial systems of America, definitely preceding the existence of Obama as president, have brought the country to its knees. Can ‘Obama’s socialism’ critics offer a better alternative to bailing out major companies and industries with federal funds? The Republican debate about Obama’s socialism may have to gather dust in the corner now as more and more companies are begging for bailout from US taxpayer money.

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Via American Thinker