Wayne Root: Obama’s bailout plan goes bust

Teetering Greece demonstrates the failure of government spending

Poor President Obama. Despite all his efforts, or maybe because of them, the U.S. economy keeps crumbling.

But to be fair, government is a failure everywhere. Exhibit A is the big fat Greek bankruptcy. Have you heard? A Greek tragedy is unfolding – again. Greece is bankrupt and insolvent – again. Government thinks it can save Greece with taxpayer money – again. And the more money poured into Greece by the European Union, the International Monetary Fund and central bankers, the worse it gets. The Greek gross domestic product is going in reverse. The economy is crumbling despite hundreds of billions loaned by government only a year ago. Now it’s time for Groundhog Day – again.

Does this story sound familiar? It plays on the news here in the United States nightly. Government pours trillions into the U.S. economy and things get worse by the day. Unemployment rises. The dollar sinks. Debt is multiplying. Real estate is collapsing. Inflation is raging. So Mr. Obama spends more. The vicious cycle continues.

When will we ever learn?Politicians, bureaucrats and central bank chiefs the world over keep repeating the mantra of big government: “If only you’ll give us more time and money, this time we’ll fix the problem.” But as one of my heroes, Ronald Reagan, often said, “Government isn’t the solution, it’s the problem.”

History proves that government ruins whatever it touches. The fact is, the economy will not improve until we stop government from interfering. Government may feel our pain but that’s because they are the ones causing it.

Don’t take my word for it. The Congressional Effect Fund, a mutual fund on Wall Street, has studied the effects of Congress on the economy for decades. Since 1964, whenever Congress is in session, the U.S. stock market is up about 1 percent on an annualized basis. During that same period, while Congress is on vacation, the stock market is up 17 percent. Coincidence?

Still don’t believe government is a walking disaster?

How about the Department of Veterans Affairs? A federal appeals court recently ruled that the VA suffers from “unchecked incompetence.” That incompetence is killing our brave veterans. It turns out that 18 returning vets commit suicide per day and 85,000 vets are on waiting lists for care. Even severely depressed vets must wait eight weeks to see a psychiatrist. Each year, 1,500 vets die while waiting for care. If you deserve a disability check, you’ll be waiting as long as four years. Still want to serve your country? Still want government to run your health care?

I just can’t wait for the results of Obamacare. Since government-run health care works so well for our veterans, can you even imagine how well it will work for the entire country?

The U.S. Postal Service – mandated by law – has no competition. Yet it loses $8 billion per year. No results like that have ever been produced in the history of the private sector.

The government-run school system is in shambles. Taxpayers spend the most per student in the world and get among the worst results. The Department of Education budget went from $30 billion to $60 billion under President George W. Bush. Does anyone think results doubled? Under Mr. Obama, we spent an extra $125 billion in stimulus on education. Does anyone see any improvement?

My wife Debra and I homeschooled our daughter from birth to her acceptance at Harvard. The first classroom of her entire life was inside the hallowed halls of Harvard. She just got her Harvard report card – straight As. Think it might be time to call government-run education a failure?

When Medicare was founded in the 1960s, government “experts” estimated its cost at $12 billion per year by 1990. Instead it was $110 billion.

When NASA started the space shuttle, their “experts” estimated its future cost at $10.7 million per trip. The actual cost has turned out to be $1.7 billion per trip.

Those kinds of mistakes in the private sector drive companies out of business. But this doesn’t present a problem for government employees. They just raise your taxes and retire on $100,000 pensions.

How about the Department of Energy? It was founded in 1977 to solve our energy crisis. It now has 100,000 employees and spends $24 billion per year. On what? Does anyone think we are less energy dependent than in 1977? Why didn’t we just spend that entire budget on buying gas for the American people?

How about the Federal Reserve’s track record? The Fed was created in 1913 with one main goal: Protect the U.S. dollar. Since the Fed’s creation, our dollar has lost 94 percent of its value. With friends like that, who needs enemies?

How about the Drug Enforcement Agency (DEA)? It has 11,000 employees and spends $2.5 billion per year. Are we winning the war on drugs? Could it be any worse without a DEA? Maybe the war on drugs is causing the drug epidemic.

Worst of all is the cost of government employees themselves. There are now 22 million people working for the U.S. government. The unfunded liability for the pensions of federal employees is now over $5 trillion. For state workers, the liability is estimated to be between $1 trillion and $3 trillion. One state alone, California, has unfunded liabilities of as much as $500 billion.

All of this money is spent on government employees who have just produced an annual deficit of $1.6 trillion and a national debt of more than $14 trillion. With unfunded liabilities added in, the taxpayers owe an unimaginable $100 trillion, almost double the world’s gross domestic product. What do these 22 million employees do all day? Think up new ways to bankrupt the country?

Should any of this surprise you? This same federal government took over the most famous, legal brothel in the history of Nevada and bankrupted it in a year.

The moral to this story: If you can’t run a whorehouse and make a profit, you’re not going to succeed at running the nation’s health care, the VA, the public schools, the post office, the war on drugs, the Department of Energy, the economy or anything.

If you’re waiting for government to save you or this economy, get ready for a long wait – eternity.

Wayne Allyn Root is a former Libertarian vice-presidential nominee and author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold, Gambling & Tax Cuts” (Wiley, 2009). He writes at RootforAmerica.com

32 thoughts on “Wayne Root: Obama’s bailout plan goes bust

  1. Root's Teeth Are Awesome

    And why is ROOT’s name all in caps?

    Like a loyal lapdog, Bruce Cohen has a fondness for CAPPING his Master’s name.

    Perhaps Cohen linked the whole piece because he’s hoping that’ll encourage people to visit Master’s website.

    Apart from that, this is yet another Root Obama bash.

    Root’s doing a good job of encouraging people to vote GOP.

    Voters who hate Obama above all else will vote GOP in 2012. Why waste a vote on a minor anti-Obama party, when they can vote for a major anti-Obama party that can actually win.

    Doesn’t matter if Root tosses an occasional small punch at the GOP. Root’s overall message (sometimes implied, sometimes explicit) is DEFEATING OBAMA TAKES PRIORITY.

    Hence, Root is steering voters to the GOP.

    (And promoting his own media career along the way.)

  2. Bruce Cohen Post author

    The “OOT”, or three last letters of Wayne’s name are capitalized because the article was done that way by his editor.

    I cut and pasted it.

    #2: The URL linking got scrambled by the blog software.

    Glad to be of service.

  3. Thomas L. Knapp

    RTAW @ 5,

    It’s not unusual when sending out an op-ed submission, press release, etc., to put the identifier in all caps, e.g. —

    RELEASE: Libertarians will hold convention Saturday


    ADVISORY: Zombie breakout attack predicted

    When it’s an op-ed submission and the author is instantly recognizable, that may also be the case because name recognition gets the mail read, e.g.

    GINGRICH: I’m a flying monkey right dogwhistle

    KRUGMAN: I got my Nobel Prize from the same bubblegum machine as my Economics degree.

    ROOT is a fan of the power of positive thinking. If he acts like he’s famous, pretends he’s famous and tells everyone he’s famous, he expects to some day become famous.

    Hey, it could work.


  4. wolfefan

    I know that Mr. Root triple-checks all his articles and never makes a mistake as he has told us so here himself, but saying that the USPS has no competition is, well, a mistake. There are a number of private companies that cherry-pick the parts of the postal service that they wish to compete with. I have used them myself. I’m not defending the USPS or arguing with the overall article, but when you leave yourself open to criticism on fairly obvious mistakes it lets opponents tarnish the rest of what you write.

  5. Bruce Cohen Post author

    Wolfie, what have you been smoking?

    Root has editors to check stuff.
    And anyway, the capitalization was no mistake.

    And the URL overlinking was a software scramble, as it was not that way when I first posted it.

  6. JT

    Darryl, have you sent that link directly to Wayne? He’s been using that soundbite over and over again.

    Cue liberaltarian George Phillies to post about how the U.S. economy is getting substantially better and better every quarter, stand up for tremendously costly government employment pay and welfare programs, and say that anyone who’s worried about future economic disaster is being ridiculous. And to say that anyone who opposes legal abortion or the notion of man-made global warming isn’t libertarian.

  7. wolfefan

    Hi Bruce –

    I have no idea who actually fact-checks his articles – I’m just going by my memory of what Wayne said here. It was a large number of threads ago – if I find the remark I’m thinking of I’ll post it either way – apologies if I am assigning responsibility to the wrong person. In any event wherever responsibility lies the USPS statement is obviously wrong. I didn’t say anything about capitalization. Thanks for your response!

  8. Michael Cavlan RN

    ROOT: Lying pile of dog feces who is expected to help the Republicans, continue career as minor voice on Republican News Show FAUX News and in the process destroy the Libertarian Party.

    Just as David Cobb did so with the Green Party, with his helping Democrats with “safe states”, career in the Green Institute and destroyed the Green Party.

    Remember now. I challenged Wayne Root repeatedly on his lies of president Obama being a “socialist” using things like facts to back my contention that he was either delusional or frankly lying.

    Perhaps to continue his career with his corporate masters at Faux News.

    MICHAEL CAVLAN RN It is my own humble opinion that Wayne Root is a lying pile of dog feces.

    LIBERTARIANS Do not let him do to you what David Cobb did to the Green Party,

  9. wolfefan

    Hi Bruce –

    here you go. I remembered this because it was pretty condescending. Scroll to #6 where Wayne says a) he is _always_ 100% accurate because b) he personally triple checks everything he writes. I’m counting the USPS slip as his mistake, since he said goes over the columns multiple times himself. I’m sure he’d accept responsibility anyway as an honorable man, since it’s his name at the top.

    Thanks again!


  10. Mike B.

    psssst…….Wayne are you ready for a epiphany (whispering):

    Conservatives hate libertarians more than they hate the State.

  11. Robert Capozzi

    wr: The U.S. Postal Service – mandated by law – has no competition.

    me: This is true for some things, e.g., first-class mail. Wolfefan seems to make more of this than was intended, although the sentence could have been clearer, yes.

  12. Michael H. Wilson

    re 15 Automatic bill paying by transferring funds from a bank account is competition for a lot of mail that previously went by first class and has cut severely into the amount of first class.

  13. Wayne Root

    Guys this is beyond ridiculous…I’m doing 10 media interviews today, including national and Canadian TV.

    But I have time to make one comment…

    By law, only the U.S. Postal Service can deliver mail.

    Last I checked there – by law- can be no competition for your mail.

    Thats obviously what I meant and what mainstream voters think I meant.

    Ask any butcher, baker or candle-stick maker (like my dad) and you’ll find they agree with me- there is competition for post office.

    Period. End of story.

    That’s who I write for…Main Street USA.

    Thats who needs our help. Mainstream voters.

    That’s who we need as voters.

    Time to stop in-fighting over intellectual interpretations of every word.

    Success in politics is about emotion, not spelling, or intellectual interpretations of every word and sentence.

    My 10 media interviews in one day prove I’m winning the battle.

    Gotta run…Iowa radio is calling.


  14. Michael Cavlan RN

    Kind of like Charlie Sheen was “winning”

    It is my own studied opinion that this man is either

    a. Delusional
    b. A flat out liar.

    Kind of like Charlie Sheen now that I think of it.


  15. Catholic Trotskyist

    Wayne Root and Michael Kavlan deserve each other. Kavlan, while pretending to criticize Root, is in fact, an agent of the right-wing anti-Obama conspiracy led by criminal Ralph Nader, Dick Cheney, the abortionist Planned Parenthood agenda and the zionists.
    I may have scaled my participation back at IPR, but the Catholic Trotskyist revolution cannot and will not be stopped. Amen amen I say, stop single-member district neanderthal Republican war economic collapse agenda; it will not happens, stop, no no no.

  16. Michael Cavlan RN




    Oh and you can bet a dollar to a thousand that the coward will not respond. He is far too busy getting his career in line.

    On your backs.

  17. Root's Teeth Are Awesome

    @ 14: Conservatives hate libertarians more than they hate the State.

    Then conservatives must love Root, since he’s leading the LP astray.

  18. Thomas L. Knapp

    Wayne @ 18 is correct.

    There are exceptions (the USPS monopoly is only on first class mail, not parcels, etc.), and in some areas society has just moved on to modes that bypass mail (electronic transactions instead of mailing checks, etc.), but the USPS is in fact a state-chartered enterprise with state protection of its operations from competition, and most people instantly recognize that its flaws have to do with that when Root (or anyone else) mentions it.

  19. Eric Sundwall

    If I were interested in mainstream voters, I would seek them out in the Red or Blue.

    Third Parties traditionally don’t attract such voters regardless of ideological tweaks or random media impact efforts.

    I would love to be proven wrong.

  20. Steven Wilson


    I had a professor try to illustrate to us the power of positive thinking and some of the mind tricks used by the “knowers”. Looking into a mirror, I can see the future.

    Umbrella statements of a dreamself. I think SNL had a charater like that too.

    The class was in memory techniques in linguitics, he even went through some of the questions asked by the people who say that talk to the dead.

    Ladies and gentleman, let me hold your wallet while I talk to your dead brother.


    Vegas baby

  21. Robert Capozzi

    24 ES, the Independent bloc is largely made up of mainstream folk. Most are mainstream, in fact. Perhaps 10% of the pop. is attracted to more theoretical matters would be my guess.

    Third parties are certainly generally not winners. But it can happen, and has happened. It required a realigning issue or losing its way from by a major party. We may have BOTH going on currently. War weariness and economic chaos are building in my estimation. The Rs certainly seem to have lost their way.

  22. Robert Capozzi

    25 sw, like a person whose first encounter with a L was to hear the LP candidate who advocated the “right” to private nukes, your first experience of positive thinking may have been unfortunate. There are charlatans and well-meaning eccentrics in every thought movement.

    Rather than view things as a “problem,” some positive thinkers view them as “opportunities.” Is it incorrect to do so? I’d suggest No. Indeed, as dysfunction becomes more pronounced, the odds go up that those on the fence will see that situation X isn’t working.

    My hypothesis is that these challenging times COULD be transformed into what might be called a Libertarian Moment. The curtain has been pulled back, and we see that the Wizard of Oz is just a nervous, ineffectual old man.

    We can continue to play safe, parliamentary games among ourselves, or nitpick Root columns, or create splinter LPs. Or we can call the Wizard on HIS games.

  23. Steven Wilson


    My experience was academic. The professor was teaching language games of deception used by the snake charmer to pretend to have knowledge that they do not have. You offer confirmation when a blanket statement of zero value is offered. The thinking is positive only from the listeners perspective. The speaker is offering no substance or declarative statement. Direct or indirect.

    It also deals with cadence and word sequence.

    When the human hears what they want to hear, it becomes the truth.

    S N A K E C H A R M E R

  24. Robert Capozzi

    22 rtaa, actually, some conservatives LIKE Ls. Some liberals do, too.

    More important, why would one care if another “hated” you or your beliefs?

    That’s on them.

    Best response I’ve come up with for haters is, “I’m sorry you feel that way,” and move on. Maybe the hater will come around later, maybe not.

    It’s all good.

  25. Robert Capozzi

    28 sw: You offer confirmation when a blanket statement of zero value is offered.

    me: Please elaborate. I don’t understand your point.

    sw: When the human hears what they want to hear, it becomes the truth.

    me: In spades.

  26. Tom Blanton

    Ask any butcher, baker or candle-stick maker (like my dad) and you’ll find they agree with me

    I had no idea Root’s dad was a candle-stick maker. I thought Root’s dad was Wayne Newton. Wow, this casts a completely new light on things.

  27. Tom Blanton

    It’s all good.

    No, it’s not all good. Some of it is not so good. Some of it is situated in a nebulous area somewhere between good and bad. Some of it is even better than good and is super fantastic.

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