Does Obama plan to bankrupt America?

January 9^th, 2012

President applying radical 1960s theory - Is Barack Obama consciously attempting to bankrupt the United States?  WND senior staff reporter Jerome R. Corsi, Ph.D., makes this claim in a new ebook just published, “Obama’s Plan to Bankrupt the USA: The Cloward-Piven Theory.”  On May 2, 1966, two Columbia University sociologists, Professor of Social Work Richard A. Cloward and his then-research associate Frances Fox Piven, wrote a pivotal article in The Nation, articulating “a strategy to end poverty.”

The solution to ending poverty, Cloward and Piven argued, required expanding the government welfare state beyond providing Social Security, Medicare, Medicaid, unemployment insurance and food stamps. They sought to establish a “guaranteed annual income” of at least $100,000 a year as a constitutional right.

Having concluded that a capitalist system would never apply capital fairly to fulfill the needs of workers, the two Columbia University-based sociologists concluded that a progressive strategy of voting ever-expanding social welfare programs could push the capitalist system to the breaking point…….

In the last stages of credit default and technical bankruptcy, the Cloward-Piven theory explains why Americans will abandon the U.S. Constitution in favor of establishing a socialist state.  “Understanding Obama’s plan to bankrupt the USA is essential to any plan to return the USA to financial solvency by reducing government spending and containing the expansion of the welfare state,” Corsi emphasized.....To Read More.....