Obama to push for a “secretary of business” in a second term?

posted at 3:21 pm on October 29, 2012 by Erika Johnsen

In an interview with MSNBC this morning, President Obama owned up to some vague plans to grow the federal bureaucracy even more by creating a new “secretary of business” position in the executive branch. Via The Hill:

In an interview with MSNBC, the president said he wants to consolidate a number of business and trade-related agencies, creating a “one-stop shop” for oversight.

“I’ve said that I want to consolidate a whole bunch of government agencies. We should have one Secretary of Business, instead of nine different departments that are dealing with things like giving loans to SBA [the Small Business Administration] or helping companies with exports,” he said in an interview with MSNBC’s Mika Brezezinski and Joe Scarborough.

No — a thousand times, no. As much as Democrats like to aggressively peddle the line that “Mitt Romney wants to take us back to the policies that got us here in the first place,” as if tax cuts and deregulation were somehow the prime movers of the financial crisis, the fact is that too much big government is what really got us here. Operating off of political motives, the feds creating adverse incentives and convoluting free-market signals were the recession’s greatest catalysts, and Obama’s biggest overstep into the business world so far with Dodd-Frank is already inducing mega-uncertainty and depressing private investment. But heck, by all means, let’s just keep right on piling up the bureaucracy and engendering even more mechanisms for the federal government to stick its nose into private business. What could go wrong?

Uhm, a lot, actually, as Veronique de Rugy points out at National Review:

In the aftermath of the Solyndra scandal and the attention that it brought to cronyism, the president’s “Secretary of Business” ideal is just another way to give a new lease on life to corporate welfare. Think about it: The thing these agencies have in common is that their main goal is to deliver taxpayer dollars to the private sector. …

I think it is very possible that consolidating all the programs that grant privileges to a selected few could end up institutionalizing cronyism — or the unhealthy marriage between the private sector and government — more than it already is. Basically, this consolidation could make the job of lobbyists even easier. Whatever your private interest, in order to get government money, you would only have to make one stop instead of nine.

Hmm… remind me, what was it that President Obama said about putting an end to “business as usual” when he got to the White House? Anyone?

This is nothing more than the latest in a series of proposals and policies that make a roundabout attack on the symptoms and blame free enterprise, instead of addressing the real disease that is big government. The Romney campaign had an apt response:

“We don’t need a ‘secretary of business.’ We need a new president who actually understands business and won’t punish it with the job-killing regulations that have been imposed by the Obama administration,” said Ryan Williams, a campaign spokesman. “Mitt Romney spent his career in the private sector as a successful businessman, and as president he will promote pro-growth policies that will create jobs, help small business and strengthen the middle class.”


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creating a new “secretary of business”

Ummm, don’t we already have a Secretary of Commerce?

BacaDog on October 29, 2012 at 3:23 PM

What the heck is the Secretary of Commerce? Chopped liver??

michaelo on October 29, 2012 at 3:24 PM

Kiss whatever is left remaining of the small business environment if anything this monumentally stupid were allowed to come into being!

pilamaye on October 29, 2012 at 3:25 PM

In an interview with MSNBC this morning, President Obama owned up to some vague plans to grow the federal bureaucracy even more by creating a new “secretary of business” position in the executive branch.

He did an interview with someone other than Vanity Fair, ET, or The Pimp With a Limp?

That’s the big story here.

Bitter Clinger on October 29, 2012 at 3:25 PM

Sorry to start with an OT, but for about the past hour, New York firefighters have been dealing with a crane that is dangling off of a 65-story building in Manhattan.

Winds are around 40 mph, I read.

God bless and keep everyone who is facing Sandy’s wind and water, and especially all of the rescue workers. They’re in for a long fight.

KyMouse on October 29, 2012 at 3:25 PM

Secretary Of Business….

Sorry, this Administration REALLY doesn’t need another SOB

Got plenty already.

Markvike

Markvike on October 29, 2012 at 3:25 PM

where’s that 35 year old car czar that had no clue? he’s available from what I recall.

DanMan on October 29, 2012 at 3:25 PM

The rat-eared wonder has never signed the front of a paycheck and has put millions more Americans on food stamps than were needy four years ago. He picks specific companies to help. Any sort of Department of Business would simply consolidate the corruption he has had to work through different organizations with varying degrees of success. For example, make no mistake that this new Department would be very pro-labor and anti-profit.

Happy Nomad on October 29, 2012 at 3:25 PM

Um, yeah. That’s just what we need, another cabinet level position.

I can see millions and millions of new jobs being created as a result!

UltimateBob on October 29, 2012 at 3:26 PM

Well that should help bho’s jobs numbers for the month he does this? I bet there will be hundreds, if not thousands, hired in that agency?

HOW about WE don’t give bho a chance to do this?
L

letget on October 29, 2012 at 3:26 PM

Sure that won’t be “Czar of Business”?

kerrhome on October 29, 2012 at 3:26 PM

secretary of bidness.

joepub on October 29, 2012 at 3:27 PM

Epic fail

And why the lsm didn’t laugh in his face……

cmsinaz on October 29, 2012 at 3:27 PM

Hey, he could also have a ‘jobs council’ that he could meet with frequently. Oh, wait…

changer1701 on October 29, 2012 at 3:27 PM

Or elect a President that has experience. Whatever’s easiest.

Flange on October 29, 2012 at 3:27 PM

How about Comrade Secretary ?

FlaMurph on October 29, 2012 at 3:27 PM

He needs a Secretary of Watching SEALs Die and Who Does Nothing About It, first right?

ted c on October 29, 2012 at 3:27 PM

“I’ve said that I want to consolidate a whole bunch of government agencies

And you didn’t try to accomplish this for the past 4 years because….?

Brat on October 29, 2012 at 3:27 PM

we have to get rid of this filthy f#$%ing communist.

tom daschle concerned on October 29, 2012 at 3:28 PM

“I’ve said that I want to consolidate a whole bunch of government agencies.

Yeah, let’s just have a gigantic Federal Agency of Government (FAG).

Bitter Clinger on October 29, 2012 at 3:28 PM

We should have one Secretary of Business, instead of nine different departments

and ninety undersecretaries with thousands of bureaucrats all set to mico-manage and harass all levels of private enterprise, until every one is driven out of, well, business, and of course government is forced to nationalize, uh, business.

Actually, you name it, Barry should have a secretary or czar to manage it so he can spend time on more important matters of his presidential office, which we all hope comes to an end sometime in January.

hawkeye54 on October 29, 2012 at 3:29 PM

The great news is that this incompetent fool is not going to be re-elected so idiotic ideas like this would not be implemented…

mnjg on October 29, 2012 at 3:29 PM

*facepalm*

gophergirl on October 29, 2012 at 3:29 PM

Get your business out of my business, Secretary!

Electrongod on October 29, 2012 at 3:29 PM

don’t fall for the false premise. Obama doesn’t care about business. he only cares about control and redistribution. he is a rat. a filthy stinking stupid rat.

tom daschle concerned on October 29, 2012 at 3:29 PM

Obama needs to think about selecting a secretary of packing-up-his-crap-and-getting-of-the-White-House.

ghostwriter on October 29, 2012 at 3:29 PM

So another admission that what Obama has been doing for 4 years isn’t working.

“I’ve said that I want to consolidate a whole bunch of government agencies. We should have one Secretary of Business, instead of nine different departments that are dealing with things like giving loans to SBA [the Small Business Administration] or helping companies with exports,”

Key word. He does not say eliminate.

A “whole bunch”. Which ones. I want specifics.

We have 9 departments that are giving loans?! How about ZERO.

weaselyone on October 29, 2012 at 3:29 PM

He did an interview with someone other than Vanity Fair, ET, or The Pimp With a Limp?

That’s the big story here.

Bitter Clinger on October 29, 2012 at 3:25 PM

I thought Chris Matthews nickname was The Pimp With a Limp?

strictnein on October 29, 2012 at 3:29 PM

Kiss whatever is left remaining of the small business environment if anything this monumentally stupid were allowed to come into being!

pilamaye on October 29, 2012 at 3:25 PM

As in GOODBYE!

pilamaye on October 29, 2012 at 3:29 PM

Obama is also calling for a Golfing Secretary, with an undersecretary that is also a caddy.

portlandon on October 29, 2012 at 3:29 PM

How did Americans ever do business , all over the world, and with enormous successes, for so long,
WITHOUT A SECRETARY OF BUSINESS?
How ?

burrata on October 29, 2012 at 3:30 PM

So what is Obama’s excuse for not having a czar of business ?

J_Crater on October 29, 2012 at 3:30 PM

The Obamunist would rather have a Secretary of “Mind your own” Business

FlaMurph on October 29, 2012 at 3:30 PM

Secretary of business? yup, he does need someone to handle all those communictions from Benghazi.

Don L on October 29, 2012 at 3:30 PM

God bless and keep everyone who is facing Sandy’s wind and water, and especially all of the rescue workers. They’re in for a long fight.

KyMouse on October 29, 2012 at 3:25 PM

I’d rather be a rescue worker facing danger than a parent faced with at least two days cooped up with a house full of children.

Seriously though, here in DC, I can’t understand why anybody is actually on the road this afternoon. The rain is literally moving sideways. It is only a matter of time before we start experiencing power outages. One good point though, local radio is suggesting that people remove their political yard signs before they become projectiles.

Happy Nomad on October 29, 2012 at 3:31 PM

LOL!

It is the “Neverending Story” of a Bo and his Biden on a continuing quest to make business run according to government standards!

Don’t worry, Bo! You won’t have to keep this promise!

If you get reelected, we won’t have any functioning businesses for your new SOB to have to watch over.

PolAgnostic on October 29, 2012 at 3:31 PM

You know what the government needs? Just one more overpaid, worthless administrator.

How about a President with a freaking plan? Budget?

But I forgot Cloward-Piven.

Oil Can on October 29, 2012 at 3:31 PM

Why doesn’t he just propose to appoint a Secretary Of CZARS and get it over with?

pilamaye on October 29, 2012 at 3:31 PM

He needs a Secretary of Watching SEALs Die and Who Does Nothing About It, first right?

He’s already got one of those…..Clinton, Panetta….take your choice.

hawkeye54 on October 29, 2012 at 3:32 PM

ghostwriter on October 29, 2012 at 3:29 PM

I was very close to posting your same comment! Good job!
L

letget on October 29, 2012 at 3:32 PM

From commerce.gov:

The Commerce Department’s mission is to help make American businesses more innovative at home and more competitive abroad.

Comprised of 12 different agencies responsible for everything from weather forecasts to patent protection, the Commerce Department touches the lives of Americans every day.

DarthBrooks on October 29, 2012 at 3:32 PM

Secretary of You didn’t build that

cmsinaz on October 29, 2012 at 3:32 PM

Meh. He’s just trying to pretend to the country that he actually has a plan(albeit a rotten one) to “save the economy.”
He has to put something out there.
This is it.

Don’t everyone faint from excitement.

Sterling Holobyte on October 29, 2012 at 3:32 PM

We are so screwed if he wins.

gophergirl on October 29, 2012 at 3:32 PM

“I’ve said that I want to consolidate a whole bunch of government agencies.

He means as do all his type of faux political mnessiahs, he seeks to consolidate his power.

Don L on October 29, 2012 at 3:33 PM

It’s time to play: What’s that Ism!

When I was in college I took two courses which taught the different Ism’s and how to Define them. Political Science and Economics.

In its day, FASCISM was seen as the Grand Compromise between boom-and-bust-prone capitalism, (with its alleged class conflict, wasteful competition, and profit-oriented egoism), and the oppression prone Marxism, (with its violent and socially divisive persecution of the bourgeoisie.)

As an economic system, fascism is essentially socialism (top down Government control) with a capitalist (Private Ownership)veneer. So Fascism boils down to being: the Private Ownership of business with the Government directing all decisions regarding said businesses.

This goes beyond reasonable regulation regarding the atmosphere in which business and the individual should interact, this is Government Control of business. A Secretary of Business is a Definite Step in that direction.

For a Short Course on ISM’s according to Cows see:

http://www.jaydee007.net/Pagethree.htm

jaydee_007 on October 29, 2012 at 3:33 PM

I used to just dislike government, now I hate, loathe, and despise government and the GD Leftists who are aggressively, relentlessly trying to take over and manage all parts of American life. LEAVE US ALONE YOU IDIOTS!!

These people must be crushed.

Charlemagne on October 29, 2012 at 3:33 PM

I’ll just bet Joe and Mika’s heads were nodding up and down like empty-headed bobbleheads when Obama proposed this doozy!

pilamaye on October 29, 2012 at 3:33 PM

The amount and level of stupidity coming from this administration is unprecedented.

ButterflyDragon on October 29, 2012 at 3:33 PM

…I might actually start screaming in the voting booth…I mean… a loud piercing scream!

KOOLAID2 on October 29, 2012 at 3:34 PM

I thought Chris Matthews nickname was The Pimp With a Limp?

strictnein on October 29, 2012 at 3:29 PM

.
Chris Matthews’s nickname is “The Pimp’s Gimp” ….

… they keep him in a box because otherwise he just starts humping on Barky’s leg.

PolAgnostic on October 29, 2012 at 3:34 PM

Obama is more communist than the communists.

He’d sell the land, via this ‘secretary’.

Make sure he doesn’t get a 2nd term.

4 years of pure charlatanry and a pox upon the land is plenty.

Schadenfreude on October 29, 2012 at 3:34 PM

He needs a Secretary of Watching SEALs Die and Who Does Nothing About It, first right?

ted c on October 29, 2012 at 3:27 PM

Yeah, it was really inefficient having State, DoD, CIA, and the White House all watching real-time but doing nothing. And the lack of a consistent story afterward would be eliminated by putting a department in charge of administration cover-ups and lies.

Happy Nomad on October 29, 2012 at 3:34 PM

Next “Secretary of Socialism”.

albill on October 29, 2012 at 3:34 PM

“On second thought, I am now the king”.
BHO

patman77 on October 29, 2012 at 3:35 PM

Only someone with no concept of business could propose a Sec of Business.

Jabberwock on October 29, 2012 at 3:35 PM

next up secretary of youth hitler choir

audiotom on October 29, 2012 at 3:35 PM

We need for the gov’t goons to get into the real world of business…so they can see how a buck is earned, the hyenas and looters of the world.

Schadenfreude on October 29, 2012 at 3:36 PM

I love the smell of desperation in the morning …

ShainS on October 29, 2012 at 3:36 PM

I thought Chris Matthews nickname was The Pimp With a Limp?

Nope, it’s Shrill wit da Thrill

gonnjos on October 29, 2012 at 3:36 PM

Wesley Mouch

The incompetent and treacherous lobbyist whom Hank Rearden reluctantly employs in Washington, who rises to prominence and authority throughout the novel through trading favours and disloyalty. In return for betraying Hank by helping broker the Equalization of Opportunity Bill (which, by restricting the number of businesses each person may own to one, forces Hank to divest most of his companies), he is given a senior position at the Bureau of Economic Planning and National Resources. Later in the novel he becomes its Top Co-ordinator, a position that eventually becomes Economic Dictator of the country.

MichaelGabriel on October 29, 2012 at 3:36 PM

I thought Ayn Rand was for teenagers?

kringeesmom on October 29, 2012 at 3:36 PM

Secretary of Business, AKA “Corporations Czar.”

Remember, you saw it here first.

Christien on October 29, 2012 at 3:36 PM

So what is Obama’s excuse for not having a czar of business ?

Golly, he can’t do everything in one term, silly, didn’t have time….that’s why he needs 4 more years, at least, for appointing thousands of more czars for every possible situation imaginable.

Why, with all those czars, Barry could really just abolish that do-nothing obstructionist CONgress. He doesn’t need that illustrious body of politicians anyway.

hawkeye54 on October 29, 2012 at 3:37 PM

Obama want the US to China…except there they still mfg. things.

Schadenfreude on October 29, 2012 at 3:37 PM

Great, another Cabinet member with which JugEars will never meet.

pain train on October 29, 2012 at 3:38 PM

bho and his worthless d bunch in the senate, dingy ding dong harry has a milestone today, 3 1/2 years without passing a budget! WAY to go d’s you are going to get replaced if we can do all to see to it when we vote!

http://www.theblaze.com/stories/milestones-today-marks-exactly-3-12-years-since-the-senate-passed-a-budget-5t-in-new-debt/
L

letget on October 29, 2012 at 3:38 PM

Anyone else remember during the early days of Obama when a trial balloon was floated…

Suggesting the presidency was too complicated for Obama and he needed a CEO?

Same idea, same Obamian shortcomings.

marybel on October 29, 2012 at 3:40 PM

this would be a monumental move towards top to bottom slavery. slavery. slavery. slavery. slavery.

tom daschle concerned on October 29, 2012 at 3:40 PM

I bet Obamuh’s got someone in mind for Secretary of Business who’s as squeaky clean and qualified to handle that agency as Timothy Geithner is to handle the Treasury Dept.

stukinIL4now on October 29, 2012 at 3:40 PM

I hope the first thing Romney does after he is elected is to announce that Obama’s “czars” need to pack their stuff up and go home because he has no use for them or their “positions”.

behiker on October 29, 2012 at 3:40 PM

This is just an indication that between now and next Monday, we are going to hear a virtual cornucopia of great and wondrous things Obama has planned for one and all, if we just re-elect him to another term in office.

Log them all under “Last Act Of Desperation“!

pilamaye on October 29, 2012 at 3:41 PM

BHO is getting desperate! Then again, maybe he doesn’t know what the “Commerce Dept.” is!

tomshup on October 29, 2012 at 3:42 PM

“I’ve said that I want to consolidate a whole bunch of government agencies. We should have one Secretary of Business, instead of nine different departments that are dealing with things like giving loans to SBA [the Small Business Administration] or helping companies with exports,”

Three Departments for the Elven-kings under the sky,
Seven for the Dwarf-lords in their halls of stone,
Nine for Mortal Men doomed to die,
One for the Secretary of Business on his dark throne
In the Land of Mordor on the Potomac where the Shadows lie.
One Secretary to rule them all, One Secretary to find them,
One Secretary to bring them all and in the darkness bind them
In the Land of Mordor on the Potomac where the Shadows lie.

Glenn Jericho on October 29, 2012 at 3:43 PM

In a second term, Obama won’t “push for” things. He’ll just do whatever he wants.

forest on October 29, 2012 at 3:43 PM

Other new federal agencies proposed by the president: Department of Schools, Department of Electricity, Department of Farms, Department of Medicine, and Department of Homeland Safety.

Bruce MacMahon on October 29, 2012 at 3:43 PM

He does not have to concern himself with 2nd term plans or worry about the size of the stone columns at his inauguration.

Southernblogger on October 29, 2012 at 3:44 PM

I would suggest Mitt, but he will be President, so that won’t work…

right2bright on October 29, 2012 at 3:44 PM

No President Empty revealing that he doesn’t know the meaning of the word ‘commerce’ is not enough to distract us from Benghazi. A lame attempt to show he is business-friendly only emphasizes the epic cluelessness but it gives the Begalas and Dionnes of the world a diversionary utteranmce. Adding another exec branch beaurocracy would be reduntantly redundant but the SEIU would gat another horde of attack drones to pay dues. That would be cool. Mm hm.

curved space on October 29, 2012 at 3:44 PM

Wesley Mouch a shoe-in for the position.

jbtripp on October 29, 2012 at 3:44 PM

So, when we “consolidate” Government offices and departments, which ones are getting cut or removed entirely?

Can I get a list? Oh the list is blank? We’re “consolidating” but not removing or cutting anything?

Can someone get the President a dictionary so he can look up the word “consolidate”? And maybe recommend the word he really wants to apply “expand” as an alternative to use in these speeches?

gekkobear on October 29, 2012 at 3:44 PM

So we get TWO new Secretaries, one for explainin’ stuff and one to do to business what the DOE has done for energy production and what the education department has done to high school graduation rates.

jukin3 on October 29, 2012 at 3:45 PM

Actually you are all misreading what he said…

Obama did say in his second term he select a Secretary of Business, what he said was the second term he learned is “business”, he never knew what that was until the debates.

The first term was “obfuscate”…

right2bright on October 29, 2012 at 3:46 PM

Let’s say there WAS one… even then, that jacka$$ would STILL put up some eggheaded ivy league never-been-within-a-mile-of-an-actual-boardroom college professor for it, probably with a terrorist background. An actual businessman? He doesn’t know any.

The guy simply cannot be helped. But he can be fired.

Dirty Creature on October 29, 2012 at 3:47 PM

Anthony Watts will have up a counter Al Gore “24 Hours of Climate Reality” via a live webcast.

WUWT-TV November 14th,

Counter Al’s “Dirty Weather Telethon” Donor has stepped forward and offered to equip WUWT for Live TV over the internet and has purchased a complete web enabled TV studio setup for this use.

see it here

http://www.newtek.com/products/tricaster-40.html

Scheduled to appear:
Andrew Montford
Richard Lindzen
Marc Morano
John Coleman
Chris Horner
Steve McIntyre
Dr. Ross McKitrick
John Christy
Joe DAleo
joe Bastardi
Senator Jim Inhofe
Bob Tisdale
Dr. Ryan Maue
Dr. Sebastian Luning
Harold Ambler
Donna LeFramboise
Pat Michaels
Pete Barcia
Christopher Monckton

invited but have not RSVP’d yet
Judith Curry
Burt Rutan
John Kehr
David Stockwell
Jo Nova
Dr. David Evans
Zeke Hausfather

Invited but declined
Dr. Walt Meir
Dr. Roger Pielke, Sr.
Dr. Roger Pielke, Jr.
Bill McKibben

Others who want to join contact http://www.wattsupwiththat.com

APACHEWHOKNOWS on October 29, 2012 at 3:47 PM

Ummm, don’t we already have a Secretary of Commerce?

BacaDog on October 29, 2012 at 3:23 PM

Take that up with the Department of Redundancy Department.

RadClown on October 29, 2012 at 3:48 PM

“I’m considering having the US Treasury issue $20,000 checks to each person in the US….after my re-election’

BobMbx on October 29, 2012 at 3:49 PM

what a putz

gerrym51 on October 29, 2012 at 3:49 PM

On the job training has been a failure in Obama’s case. He still has the same understanding of business he had when he was inaugurated, which is none.

Just imagine if Obama is in charge and he gets a slush fund for his Department of Business, how many Solyndras there’d be.

bflat879 on October 29, 2012 at 3:50 PM

“Consolidate” still allows them to “Duplicate” efforts. This accomplishes nothing.

weaselyone on October 29, 2012 at 3:53 PM

Sexist pigs.

It’s not “secretary” any more.
“Administrative Assistant of Business”.

(which totally kills the joke, since the new title actually makes more sense than “secretary”)

connertown on October 29, 2012 at 3:53 PM

We can’t be rid of this buffoon quickly enough. He’s gone from the sublime to the ridiculous now.

Begone, bad rubbish – and take your “Secretary of TCB” with you!

Adjoran on October 29, 2012 at 3:54 PM

Obama’s biggest overstep into the business world so far with Dodd-Frank is already inducing mega-uncertainty and depressing private investment

No it’s not, that’s absurd. Depressing private investment in what- investment banks? Regional banks? Believe it or not, giving banks the latitude and leverage to place casino-like bets of federally insured deposits is not a sane policy.
Dodd Frank can go away when the too big to fail banks are dismantled, the path recommended by the Dallas Fed and the architect of the mega bank himself, Sandy Weill.

bayam on October 29, 2012 at 3:55 PM

Just get it over with and establish a Secretary of Income.

fossten on October 29, 2012 at 3:55 PM

I don’t know what’s more sad; that he hasn’t got a CLUE about business, government or the United States Constitution, or that he’s so completely ignorant of the horrors of Marxism.

KMC1 on October 29, 2012 at 3:55 PM

What about a czar of business or is that an oxymoron?

Fuquay Steve on October 29, 2012 at 3:56 PM

Will there be math?

Cindy Munford on October 29, 2012 at 3:56 PM

Hmmmm….I wonder if there is a precedent any where for centralized planning of “business”.

Why, yes there is:

Soon after the revolution, the Bolsheviks published decrees nationalizing land, most industry (all enterprises employing more than five workers), foreign trade, and banking. The peasants took control of the land from the aristocracy and farmed it in small parcels.

Beginning in 1918, the new regime already was fighting for its survival in the Russian Civil War against noncommunist forces known as the Whites. The war forced the regime to organize the economy and place it on a war footing under a stringent policy known as war communism. Under such conditions, the economy performed poorly. In 1920 agricultural output had attained only half of its pre-World War I level, foreign trade had virtually ceased, and industrial production had fallen to only a small fraction of its prewar levels. Beginning in 1921, Lenin led a tactical retreat from state control of the economy in an effort to reignite production. His new program, called the New Economic Policy (Novaya ekonomicheskaya politika–NEP; see Glossary), permitted some private activity, especially in agriculture, light industry, and services (see Lenin’s Leadership, ch. 2). However, heavy industry, transportation, foreign trade, and banking remained under state control.

Lenin died in 1924, and by 1927 the government had nearly abandoned the NEP. Stalin sought a rapid transformation from an agricultural, peasant-based country into a modern industrial power and initiated the country’s First Five-Year Plan (1928-32). Under the plan, the Soviet government began the nationwide collectivization of agriculture to ensure production and distribution of food supplies to the growing industrial sector and to free labor for industry (see Industrialization and Collectivization, ch. 2). By the end of the five-year period, however, agricultural output had declined by 23 percent, according to official statistics. The chemical, textile, housing, and consumer goods and services industries were also performing poorly. Heavy industry exceeded the plan targets, but only at a great cost to the rest of the economy.

Oh yeah…that didn’t work too well, did it?

BobMbx on October 29, 2012 at 3:56 PM

Desperately feeble. Hey, Obama! I’ll do you one better by putting a successful business person in your office.

John the Libertarian on October 29, 2012 at 3:58 PM

A 44th Czar! After 4 years in the last week before the election the economic turn-a-round comes down to putting off the jobs report for a rain storm and appointing a new Marxist behind Congress’ back.

DANEgerus on October 29, 2012 at 3:58 PM

Comment pages: 1 2