In one month of legislation and one diplomatic meeting, the United States has unilaterally abdicated all the gains for the concept of free markets won by the Reagan administration and surrendered, in total, to the Western European model of socialism, stagnation, and excessive government regulation.

Sovereignty is out the window. Without a vote, we are suddenly members of the European Union. Given the dismal record of those nations at creating jobs and sustaining growth, merging with the Europeans is like a partnership with death.

At the G-20 meeting, Bush agreed to subject the Securities and Exchange Commission (SEC) and our other regulatory agencies to the supervision of a global entity that would critique its regulatory standards and demand changes if it felt they were necessary. Bush agreed to create a College of Supervisors.

According to The Washington Post, it would "examine the books of major financial institutions that operate across national borders so regulators could begin to have a more complete picture of banks’ operations."

Their scrutiny would extend to hedge funds and to various "exotic" financial instruments. The International Monetary Fund (IMF), a European-dominated operation, would conduct "regular vigorous reviews" of American financial institutions and practices.

The European-dominated College of Supervisors would also weigh in on issues like executive compensation and investment practices.

There is nothing wrong with the substance of this regulation.

Experience is showing it is needed. But it is very wrong to delegate these powers to unelected, international institutions with no political accountability.

We have a Securities and Exchange Commission appointed by the president and confirmed by the Senate, both of whom are elected by the American people. It is with the SEC, the Treasury, and the Federal Reserve that financial accountability must take place.

The European Union achieved this massive subrogation of American sovereignty the way it usually does, by negotiation, gradual bureaucratic encroachment, and without asking the voters if they approve.

What’s more, Bush appears to have gone down without a fight, saving his debating time for arguing against the protectionism that France’s Nicolas Sarkozy was pushing.

By giving Bush a seeming victory on a moratorium against protectionism for one year, Sarkozy was able to slip over his massive scheme for taking over the supervision of the U.S. economy.

All kinds of political agendas are advancing under the cover of responding to the global financial crisis.

Where Franklin Roosevelt saved capitalism by regulating it, Bush, to say nothing of Obama, has given the government control over our major financial and insurance institutions. And it isn’t even our government!

The power has now been transferred to the international community, led by the socialists in the European Union.

Will Obama govern from the left? He doesn’t have to.

George W. Bush has done all the heavy lifting for him. It was under Bush that the government basically took over as the chief stockholder of our financial institutions and under Bush that we ceded our financial controls to the European Union.

In doing so, he has done nothing to preserve what differentiates the vibrant American economy from those dying economies in Europe.

Why have 80 percent of the jobs that have been created since 1980 in the industrialized world been created in the United States? How has America managed to retain its leading 24 percent share of global manufacturing even in the face of the Chinese surge?

How has the U.S. GDP risen so high that it essentially equals that of the European Union, whose population is 50 percent greater?

It has done so by an absence of stifling regulation, a liberation of capital to flow to innovative businesses, low taxes, and by a low level of unionization that has given business the flexibility to grow and prosper.

Europe, stagnated by taxation and regulation, has grown by a pittance while we have roared ahead. But now Bush — not Obama — Bush has given that all up and caved in to European socialists.

The Bush legacy? European socialism. Who needs enemies with friends like Bush?

© 2008 Dick Morris & Eileen McGann

Read the full story here.

When fascism comes to America, it will be wrapped in the flag and carrying the cross. ~ Sinclair Lewis:

Promote then as an object of primary importance, Institutions for the general diffusion of knowledge. In proportion as the structure of a government gives force to public opinion, it is essential that public opinion should be enlightened. ~George Washington, Farewell Address, September 19, 1796

My kind of loyalty was loyalty to one’s country, not to its institutions or its office-holders. ~Mark Twain, A Connecticut Yankee in King Arthur’s Court, 1889

I will fight for my country, but I will not lie for her. ~ Zora Neale Hurston

A politician will do anything to keep his job — even become a patriot. ~William Randolph Hearst

Patriotism… is not short, frenzied outbursts of emotion, but the tranquil and steady dedication of a lifetime. ~Adlai Stevenson

The liberties of our country, the freedom of our civil Constitution, are worth defending at all hazards; and it is our duty to defend them against all attacks. We have received them as a fair inheritance from our worthy ancestors: they purchased them for us with toil and danger and expense of treasure and blood, and transmitted them to us with care and diligence. It will bring an everlasting mark of infamy on the present generation, enlightened as it is, if we should suffer them to be wrested from us by violence without a struggle, or to be cheated out of them by the artifices of false and designing men. — Samuel Adams

If you are ashamed to stand by your colors, you had better seek another flag. ~Author Unknown

Patriotism is the willingness to kill and be killed for trivial reasons. ~Bertrand Russell

Men love their country, not because it is great, but because it is their own. ~Seneca

Do not… regard the critics as questionable patriots. What were Washington and Jefferson and Adams but profound critics of the colonial status quo? ~Adlai Stevenson

Each man must for himself alone decide what is right and what is wrong, which course is patriotic and which isn’t. You cannot shirk this and be a man. To decide against your conviction is to be an unqualified and excusable traitor, both to yourself and to your country, let men label you as they may. ~Mark Twain

Patriotism is your conviction that this country is superior to all other countries because you were born in it. ~George Bernard Shaw

A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle; and patriotism is loyalty to that principle. ~George William Curtis

We must not confuse dissent with disloyalty. When the loyal opposition dies, I think the soul of America dies with it. ~Edward R. Murrow

I love America more than any other country in this world, and, exactly for this reason, I insist on the right to criticize her perpetually. ~ James Baldwin

The nation is divided, half patriots and half traitors, and no man can tell which from which. ~Mark Twain:

The government is merely a servant — merely a temporary servant; it cannot be its prerogative to determine what is right and what is wrong, and decide who is a patriot and who isn’t. Its function is to obey orders, not originate them. ~Mark Twain

To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public. (1918) ~ Theodore Roosevelt:

God bless America, land that I love,
Stand beside her, and guide her,
Through the night, with the light from above,
From the mountains, to the prairies
To the oceans, white with foam
God bless America, my home sweet home,
God bless America! My Home Sweet Home! –Irving Berlin, God Bless America

We can’t all be Washingtons, but we can all be patriots. — Charles F. Browne

A thoughtful mind, when it sees a Nation’s flag, sees not the flag only, but the Nation itself; and whatever may be its symbols, its insignia, he reads chiefly in the flag the Government, the principles, the truths, the history which belongs to the Nation that sets it forth. ~Henry Ward Beecher

Breathes there the man with soul so dead, Who never to himself hath said, This is my own, my native land.
~Walter Scott

Patriotism is easy to understand in America; it means looking out for yourself by looking out for your country. ~ Calvin Coolidge

Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe, to assure the survival and success of liberty. – John F. Kennedy

(W)e here highly resolve that these dead shall not have died in vain; that this nation shall have a new birth of freedom; and that this government of the people, by the people, for the people, shall not perish from the earth. — Abe Lincoln in the Gettysburg Address

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. – Abraham Lincoln

We must always remember that America is a great nation today not because of what government did for people but because of what people did for themselves and for one another. – Richard Nixon

Our citizenship in the United States is our national character. Our citizenship in any particular state is only our local distinction. By the latter we are known at home, by the former to the world. Our great title is AMERICANS… – Thomas Paine

These are the times that try men’s souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands it now, deserves the love and thanks of man and woman. – Thomas Paine

Over the years, the United States has sent many of its fine young men and women into great peril to fight for freedom beyond our borders. The only amount of land we have ever asked for in return is enough to bury those that did not return. — Colin Powell

I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands. One nation under God, indivisible, with liberty and justice for all. — The Pledge Of Allegiance

You and I have a rendezvous with destiny. We will preserve for our children (America), the last best hope of man on earth, or we will sentence them to take the first step into a thousand years of darkness. If we fail, at least let our children and our children’s children say of us we justified our brief moment here. We did all that could be done. – Ronald Reagan

And how stands the city on this winter night? More prosperous, more secure, and happier than it was 8 years ago. But more than that: After 200 years, two centuries, she still stands strong and true on the granite ridge, and her glow has held steady no matter what storm. And she’s still a beacon, still a magnet for all who must have freedom, for all the pilgrims from all the lost places who are hurtling through the darkness, toward home. – Ronald Reagan

In closing, let me thank you, the American people, for giving me the great honor of allowing me to serve as your president. When the Lord calls me home, whenever that day may be, I will leave with the greatest love for this country of ours and eternal optimism for its future. I now begin the journey that will lead me into the sunset of my life. I know that for America there will always be a bright dawn ahead – Ronald Reagan

Americanism means the virtues of courage, honor, justice, truth, sincerity, and hardihood — the virtues that made America. – Teddy Roosevelt

I shall know but one country. The ends I aim at shall be my country’s, my God’s and Truth’s. I was born an American; I live an American; I shall die an American. – Daniel Webster

Sure I wave the American flag. Do you know a better flag to wave? Sure I love my country with all her faults. I’m not ashamed of that, never have been, never will be. – John Wayne

The things that the flag stands for were created by the experiences of a great people. Everything that it stands for was written by their lives. The flag is the embodiment, not of sentiment, but of history. – Woodrow Wilson

And I’m proud to be an American,
Where at least I know I’m free,
And I won’t forget the men who died,
Who gave that right to me
And I’ll proudly stand up next to him to defend her still today,
Cuz there aint no doubt I love this land,
God bless the USA – Lee Greenwood, Proud To Be An American