The Devil In The Details|
May 13, 2009
"Every government interference in the economy consists of giving an unearned benefit,
extorted by force, to some men at the expense of others." Ayn Rand
Defying history, reality and common sense, Obama's $3.5 trillion budget resolution
passed Congress earlier this month, signaling a dramatic shift in the priorities
and scope of the federal government.
Not that most Americans are aware of this.
The media has kept them pacified with extensive coverage of the 'wasteful and duplicative' $17 billion in cuts
contained in the proposal. Cuts that represent one half of one percent of the proposed
budget. Cuts that aren't
really cuts at all, merely a shifting of our tax dollars from a conservative
program to a liberal one.
The Washington Examiner reports
that Republican strategists
are having a problem. "The scale of what President Barack Obama proposes to do to
the American economy is so enormous, so far-reaching and so potentially disastrous
that the opposition party is having a hard time describing it." Well, I'm not a
Republican strategist, I'm just one of the people in flyover country that has to
pay for this fiasco and I have no trouble describing it:
Our budget deficit in 2009 will top $1.8 trillion dollars
. That's a 400% increase over last
years' deficit. Translation: For every dollar the government spends, .48 will be
borrowed. Budget office figures released Monday would add $89 billion to the 2009
red ink — increasing it to more than four times last year's all-time high.
One doesn't have to be an economist or a degenerate gambler to know that a house
built on sand eventually collapses. We're already seeing it. The United States posted
its first April deficit
in 26 years, a record $20.91 billion
shortfall. But not to worry, Obama is going to cut $17 billion. Whew.
Historical evidence of the economic harm caused by raising taxes in a recession
is ignored as the Obama administration continues its frantic grab of ever larger
portions of the dollars produced by the hardworking men and women of America.
President Obama's "Budget Blueprint" proposes to raise the tax rate on dividends
and capital gains from 15 percent to 20 percent. Heritage Foundation says
: "This works
out to $27 billion of lost value for current and future retirees unnecessarily redistributed
to Congress. That works out to $434 of lost retirement savings for each family.
In case we the people object, Obama has also proposed nearly doubling funds to enforce U.S. tax laws
next year, with an aim of more
than quadrupling funding for tax compliance to $2.1 billion within five years. Tax
compliance means IRS. You know, the agency that wields absolute power over each
and every one of us. (Correction: over everyone who is not an elected official or
heading up a government agency)
After successfully demonizing the oil companies, Obama offers a gift to all the
underachievers and professional victims by socking it to the 'rich' - whose definition
is constantly changing, kinda like the Constitution. Obama proposes to end $26 billion in oil and gas industry tax breaks
them ''unjustifiable loopholes'' in the tax system that other companies do not get.
Hey, I'm all for 'equality', aren't you?
Next up: The Obama administration will propose $60 billion in new tax increases
over 10 years on wealthy
estates, businesses and others to pay for an expensive overhaul of the health-care
system. After all, the rich are only rich because they exploited the poor. And the
poor, (again, as defined by the left) have a right to health care, just as they
now have the right to housing, education, absolute equality and the right not to
be offended. Its called social justice. And its a wonderful thing, allowing our
elites moral cover as they pick our pockets bare.
Meanwhile, the government revised estimates
for the long-term solvency
of Medicare and Social Security on Tuesday, moving up the date when trust funds
for the entitlement programs will run out of money. It looks like Medicare will
be insolvent in eight years, meaning, it will be the problem of the next administration.
Most likely, a Republican administration, unless, of course, the GOP continues to
emulate the left and ends up emulating themselves out of existence.
I know economics is a dreary subject. I also know Obama is counting on economic
ignorance, lofty rhetoric and a Democrat majority to pass this budget monstrosity.
Having the media in his pocket doesn't hurt.
Even with the media focusing on the $17 billion in cuts instead of the bigger picture,
most Americans aren't aware of what these 'wasteful spending and unnecessary programs'
Obama is claiming as budget cuts include:
* Cutting in half a benefits program
for the families of slain police and safety
* Eliminating new funding
for advanced-generation equipment
to detect nuclear weapons and radiological materials at U.S. borders and ports and
around New York City .
* Canceling plans to extend the border fence along the U.S.-Mexico border beyond
the 670 miles already completed or planned.
* Cutting the
budget of OLMS,
the federal agency that investigates financial crimes that
occur when union officials steal from their union
Each and every cut signifies the loss of a hard won battle fought by the 62 million
people who didn't vote for Obama. The 62 million people that now have absolutely
no effective representation or say in the new and improved path our country is on.
A path that has already led us to socialism.
But hey, just because socialism has failed every time its been tried doesn't mean
it will fail under Obama. And (when) if it does, Obama will just redefine failure,
leaving conservatives, once again, to mop up the mess. And leaving the American
people, once again, paying the very real price for yet another failed utopian vision
that our elected officials could have avoided by merely studying history instead
of indulging their own political fortunes at the expense of their country.
Nancy Morgan is a columnist and news editor for
She lives in South Carolina.
Article may be reprinted, with attribution.
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