Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts

Sunday, July 11, 2010

Will They Have the Guts?


China and America are in the process of trading places. Both are set to experience massive dislocation by significant segments of their populations. There will be blood on both sides. Indications are that the carnage on the American side will be greater primarily because America seems to have lost its identity. China has not. A second factor may play an even greater role: Whereas America seems resigned to continue its march toward atonement and subsequent obligatory punishment for past sins, China in general appears confident that its future remains bright.

Listening to Larry Kudlow, and anyone else who keeps talking about the November midterms as being our nation’s salvation, is starting to get on my nerves. Let me say categorically and unambiguously that the midterm elections - no matter how they turn out - will have absolutely no effect in stopping Obama’s hard left re-distributionist agenda.

Any legislation that a Republican-dominated congress is likely to advance will be immediately struck down by Obama’s veto pen. This would apply to any rollback of existing legislation as well as any legislation that can yet be expected to pass in the ‘lame duck’ session. We’ll be stuck with that. In many ways, the barn door is already wide open and the horses are long gone. There are numerous confiscatory tax increases in our immediate future that will absolutely cripple our already anemic private sector. More will surely be added during ‘lame duck’. Expect ‘cap and trade’ to pass; expect VAT; increased health care costs can be expected to add to our already insupportable deficits. Individual states will begin to default.

Republicans can shout all they want but they will not be able to do anything to change even one iota of the spending, tax policy, and regulations that are already in place. Add to this the fact that the president retains the use of the executive order in all matters; he will continue to make interim appointments and possibly even float a Supreme Court choice. Even if successive SC appointment are not approved for the remainder of this president’s term, it’ll make for devastating headlines, and the Court itself would now consist of eight. Not sure to what extent 4-4 decisions count.

Best of all, when things go wrong, as they surely must, Obama can and will blame Republicans.

Let me put this as delicately as possible: There is only one way we can get back on sane footing. And that is to impeach the president. A Republican congress may actually have the power to do just that. But will they have the guts?

People like Kudlow (which includes most of our media - right, left or in-between) are still assuming that the midterms will send such a powerful message that the White House will have to change course. Think again. Obama does not listen to messages; he does not play at politics in the usual sense. Obama has a dictator’s mentality. It is filled with rage toward any opposition. He will not rest until he sees this country destroyed or bent to his will.

No, my friends, we cannot survive another two years of this. We would end up like the Thanksgiving turkey left in the oven to defrost when someone decides to run the (oven) cleaning cycle without first checking if anything’s been left inside.

Monday, July 5, 2010

Let's Do the Math


Let’s do the math. Many people were shaking their heads when Obama last week announced that his top priority is now the deficit. After a full year of profligate spending, he suddenly decides that the deficit is (or will be) a problem. Is the president schizophrenic? No. There is a plan. Obama is doing exactly what he said he would do: re-distribute America’s wealth.

He has appointed - not one, but - two commissions to study the deficit. No doubt, they both will declare that the only way to solve the deficit problem is to raise taxes (on everybody). Obama will declare to the nation that the findings of these commissions make tax hikes inevitable - that it would be absolutely irresponsible for him to ignore these findings - that the U.S. economy would simply collapse without tax hikes. Even Republicans would have to go along with it if they wished to escape the wrath of the American people for a collapsing economy.

Seems a plausible argument, never mind that increasing taxes is certain to keep job creation and, hence, sustained economic recovery at bay for decades to come. Though, the president could claim (as he does) that, without his policies, jobs currently held were actually ‘saved’ (by him) and that the overall economy would be even worse.

Republicans must resist the temptation to focus on the deficit. They must focus on growth. Taxation, even at present levels, kills growth. And growth is the only bullet we have left to keep our economy from totally collapsing.

Republicans must keep in mind Obama’s priorities which do not include job creation or saving our economy. His ultimate aim is to re-distribute the wealth of America; to take from those who have traditionally had and give to those who have not. This is the socialist model that has historically consistently failed wherever it’s been tried.