Obama's $3.6 trillion spending and tax plan is the biggest effort to shift the federal government's role in the economy since Reagan's in 1981. But instead of rolling back government, Obama advocates growing it. ....Shudder.... If Congress declines to raise taxes on carbon emissions, or other areas, it will force the deficit even higher. Likewise, should all his tax increases pass, that could slow the economy even more, and the deficit goes higher still.
I might be for raising taxes if I thought for one minute the Gov would use it to pay down the deficit like Bush I and Clinton did, but I don't trust Obama to do that. He's got way to big of a social agenda and seems to lack a basic understanding of economics. (Clinton also did not control federal spending, considering it increased by almost 30% during his tenure. What saved him was the dramatic increase in tax revenues from a healthy economy created in the tech and other sectors during that time.)
Want to see just how much Obama want's to borrow from your children, watch this:
Glenn Beck graphically depicts our Federal Government's out of control spending.
Politicians, R's and D's alike, just can't resist spending your money, and mortgaging your children's future. The national debt is already nearly $11 TRILLION, that's $35,000 for every person living in America, and this all BEFORE Obama starts with his crazy spending!
The stock market clearly isn't liking what they are hearing from Obama. It's down 20% in the short time since Obama's inauguration and down nearly 40% from the time it was evident that Obama was going to become President. Ouch!
Look at what CNN's Mad Money host Jim Cramer has to say about Obama's policies.
According to a recent poll, over a quarter of those who voted FOR Obama now regret it.
Obama's DISapproval rating has increased from 10% to 26% in just over a month as more people, like me, who had hoped that Obama would be different, have learned about his same-old higher taxes and bigger government programs.
So, what's to be done? How do we get our economy back on it's feet?
I would encourage everyone to read Free to Choose by Milton and Rose Friedman. (A 10-part TV series was also made along with this book.) If ever there was a time for people to understand how our economy works, it's now, while Obama and the Democratic-controlled congress try to reshape our country into the great society.
Milton Friedman, he was was an American economist, statistician and public intellectual, and a recipient of the Nobel Memorial Prize in Economic Sciences. Even though this book and his ideas are from a few decades ago, they remain true principles that seem to have been lost.
If you're not familiar with Milton Friedman or his beliefs, you can find several good video interviews with him on YouTube. Here is one small sample of him being interviewed by Phil Donahu.
Get this book, read it, and see if it doesn't make a lot of sense, and if it does, is Obama putting us on the right track?