Gun grabbers like President Obama are quick to state how they think the purchase of firearms should be restricted and heavily regulated, but they conveniently forget to mention that their money might not match up with their rhetoric. According to a recent report from Reuters, some of the nation’s major anti-gun voices happen to own stock in companies that manufacture ammunition and guns. That’s right, President Obama as well as several other members of the Democratic Party have a substantial amount of money tied up in stocks in various gun manufacturing companies.
According the report, Obama took $100,000 and invested it in a pension plan created by his home state of Illinois. The total of the pension plan was $16 billion, of which $5 million was used to purchase gun stocks. The report also revealed a $9.5 million small-cap mutual fund that was invested in Smith & Wesson.
Senator Dick Durbin is another Democrat who is cashing in on the gun business. He used a federal Thrift Savings Plan S Fund to invest $115,000 in companies that manufacture firearms. That particular S Fund is set specifically to aid in the investment efforts of Congress members and has a total of $196.9 million stock shares with Vista Outdoor, a well-known gun maker.
When she was a member of Congress, Carolyn McCarthy (D-New York) was very vocal about her belief that the country needed stricter gun control laws. According to the Reuters report, she should be careful about what she says since a large portion of the money she’s set aside to help put her grandchildren through college has been used to purchase stock in firearms companies.
Gun makers shouldn’t complain about how vocal Obama has been about his dislike of firearms. During the 8 years he’s been in office the number of guns sold to private citizens has increased. So has the value of the stocks he owns. In just three years, Smith & Wesson stock has climbed 80%. Retailors report that each time President Obama makes a statement about needing tighter gun control laws, they experience a huge increase in the number of applications they receive for hand guns. The increase in sales has prompted companies like Vista Outdoor and Ruger to bump up production in an attempt to meet demand. Many report that recent sales have been as high as they were when President Obama was first sworn into office.
So the question we all have to ask is whether money is motivating the gun grab rhetoric. If Obama’s anti-gun rants are ultimately driving up his stock investments, is he potentially manipulating his platform for financial gain? Is this the ultimate hypocrisy we’ve ever seen in the White House?