The awful consequence was massive foreclosures, especially in certain markets where “flipping” speculative properties became a rampant economic pastime for both professionals and amateurs alike. Horowitz noted that 54% of the net worth of the homes owned by the sub-prime mortgagors was wiped out. To hear the “progressives” tell it, this was all due to the evil men on Wall Street. The Democrats mounted their high horse, an animal they always keep closely tethered, and rode it down Wall Street taking shots at bankers, insurance companies and lenders of all sorts. However, if they had pointed their guns in the right direction, they would have blasted themselves out of the saddle all the way back into the Potomac River.
Horowitz also made the point that the socialist model in which one can constantly increase the size of government, reducing the tax base and producing more people who depend on the government, has collapsed and that the idea of a centrally planned economy has long been discredited as an economic theory. Both, however, are still alive and well in the liberal psyche.
One of the ways the new Leviathan increases its chances for permanent control is through the high salaries and magnificent benefits paid to government employees. These are used to fund government unions which then funnel a portion of that money back to the Democrats who vote for the pay-packages of government workers. The unions function as a conduit from the taxpayers straight to Democrats running for election. Witness your tax-dollars at work.
This new Leviathan, said Horowitz, has spread its tentacles over every aspect of our national life. It is a huge contraption that drives public policy, garnering more funds as people are duped by the illusion that it promotes the “general welfare.” Enormous consequences have resulted: Socially divisive multiculturalism is promoted in the classroom, which is a form of classic Marxism with race and gender thrown in; elsewhere, the union AFL-CIO has long since been taken over by socialists; the Annenberg Foundation has given $900 million to left-wing organizations and causes; at a time when creating jobs should have been the president’s highest and most urgent priority, he spent all of his time pushing through ObamaCare which is the door to the socialist future; and so on.
The future that the Left is creating is one that rests on the myth that the Democrats and their comrades of the new Leviathan are the party of the down-trodden, the disenfranchised and the dispossessed, but nothing could be farther from the truth. Of the 20 richest zip codes in the country 19 of them gave most of their money to Democrats in the last election. Fourteen liberal foundations have assets in excess of $1 billion. Not one conservative foundation has such an amount. Progressive foundations have a combined total of just over $100 billion, ten times the amount in the hands of conservative foundations.
Horowitz shows how the members of the new Leviathan and the Democrats form the party of the elites. Of the twelve richest congressmen and senators the Democrats outnumber the Republicans three to one. The Democrats are the party of Vogue Magazine, of the Ivy League, of Manhattan, of the media, of Hollywood, of trial lawyers and they are gaining more and more support from billionaires who favor global governance with a national anthem nobody sings and a flag nobody salutes. All of them are united in an attempt to define America on a secular scale that is the exact opposite of the intentions of the Founding Fathers.
At the end of his talk, Horowitz had demolished the posture of the Left as a force for good and a champion of the common man. His numbers expose the fraudulent nature of the Left’s claim that their policies lead to one long felicitous march towards progress and freedom. One is left aghast at the notion that, like Alice in Wonderland, we have passed into the region where black is white and white is black.
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