“Never let a serious crisis go to waste. What I mean by that is it’s an opportunity to do things you couldn’t do before.”
– White House Chief of Staff Rahm Emanuel
Note to our readers: This the 8th installment of a series called “The Abject Failure Of The Obama Presidency.” Intended to illustrate just how Obama’s policies fail us, and the Constitution he swore to uphold, it is based on The 10 tenets for establishing and maintaining democracy, written by William J. H. Boetcker and originally published in 1942. To read previous installments, just type or copy “The Abject Failure” into the search box to the right of this article, then click “Search.”
The more research I did to support this particular tenet, the more I realized that this tenet is, perhaps, the most complex to explain and properly cover:
8. You cannot keep out of trouble by spending more than your income.
Let me be clear about this: The United States is teetering on the edge of financial oblivion and it would be both factually incorrect and misleading to suggest the blame for this lies at the feet of the Obama administration.
Neither the mainstream media nor Congress, nor most of the Presidential administrations over the past 40-50 years have been totally honest with the American public about this. But the numbers don’t lie, even if the politicians do: The amount of money the United States is committed to in either social programs or entitlements over the next decade is well over $100 Trillion (yes, with a “T”). Our own Alan Speakman of Grand Rants has written about this on a number of occasions. For a harsh look at the truth, read these pieces by Alan:
- The Next Economic Crash – An Absolute Disaster
- Financial Speech For The Ages… Uh-Oh!
- Société Générale and Global Collapse
This debt is principally the result of entitlements funded by Congress while you and I were not paying attention. “Who’s going to win the playoffs?” became more of a concern to us than “What is Congress doing with our tax dollars?” “What’s the number one song on the hit parade this week?” surpassed “Can we, as a nation, afford to do this now?” in importance. So, in a way, if you want to know who is most directly responsible for the economic crisis, we can all start by looking into a mirror.
Even in years when administrations claimed to have a balanced budget, the deficit was, in fact, building in the background. Both political parties share the blame for this.
In order to fully understand the nature of the beast preparing to devour our entire economy, here is a “quick-start” video to help get you up to speed. I urge you to watch it in its entirety. When the video has finished, then please click on the link to read the rest of this installment to see how the Obama administration is heading in exactly the wrong direction… and why they are doing so intentionally.
First: In the video, when Bill Clinton stated that the federal deficit will be, “simply zero,” he was being about as honest as he was when he looked into the camera and said, “Ah did not have sexual relations with that woman, Miss Lewinsky.” It all depends on how you define “deficit.” However, it could be argued that he did a better job with our taxes than George W. Bush. And both Presidents did a better job in their 8 years than Barack Obama in his first.
More to the point, it is what Barack Obama is doing to “not let this economic crisis go to waste” that earns him the disdain of this writer. It should also “earn the concern” of any parent who looks to the America his or her children, grandchildren and, indeed, great-great grandchildren will inherit. While Obama has the unique opportunity to minimize the damage already done, he has instead chosen to charge full-speed ahead… in the wrong direction.
As the former Comptroller General of the United States said in the video, “We suffer from a fiscal cancer. It is growing within us and if we do not treat it, it could have catastrophic consequences for our country.”
That quote is from 3 years ago. Nothing has been done since then to stop the economic hemorrhage. Not by George Bush and not by Barack Obama. Although he campaigned on the reckless spending of the Bush administration (on a war he claimed he would end yet has simply moved to a new location), Obama’s own reckless spending has stunned even the Wall Street Journal who noted days after Obama signed the stimulus package last year:
“The 647-page, $825 billion House legislation is being sold as an economic ‘stimulus,’ but now that Democrats have finally released the details we understand Rahm’s point much better. This is a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years.
“We’ve looked it over, and even we can’t quite believe it. There’s $1 billion for Amtrak, the federal railroad that hasn’t turned a profit in 40 years; $2 billion for child-care subsidies; $50 million for that great engine of job creation, the National Endowment for the Arts; $400 million for global-warming research and another $2.4 billion for carbon-capture demonstration projects. There’s even $650 million on top of the billions already doled out to pay for digital TV conversion coupons.”
Metaphorically, it would be as if the Captain of the Titanic, upon seeing the iceberg, chose to ram it at top speed rather than try to avoid it. Continuing, the WSJ noted:
“…by our estimate only $90 billion out of $825 billion, or about 12 cents of every $1, is for something that can plausibly be considered a growth stimulus. And even many of these projects aren’t likely to help the economy immediately.”
Couple this with the cost of National Healthcare (which the Congressional Budget Office recently announced it now believes implementation will actually add even more to our mounting debt rather than reduce it as Obama had claimed). When you do the math, it quickly becomes clear that the Obama administration has committed the American people to more debt in his first year in office than the entire 8 years of Bush 43 including the cost of the war on terror.
Perhaps more shocking: This may well be part of an agenda to intentionally bring down the American Economy and kill the dollar, so he can be the hero as he rescues us by rebuilding our economy via the implemention of his socialist agenda. It’s not at all unlike the concept known as Munchausen by proxy syndrome (MBPS) where a caretaker intentionally causes a person in their care to become sick, enabling him or her to then save the child in order to appear heroic.
What, then, is the specific goal here? According to DiscoverTheNetworks.org:
“Under the guise of a stimulus package to bring the economy out of recession, the Obama administration is reworking the fundamental politics of our country, passing out checks like heroin to create a constituency addicted to public handouts, and concentrating the tax burden of paying for it all on a smaller and smaller number of Americans.
“A larger percentage of the American population is paying no income taxes at all and few other levies, making them unlikely to complain when taxes are raised on those who do. At the same time, they’re getting checks from Washington as part of a concerted effort to build a constituency that supports big government and big handouts….
“[W]hen Obama’s tax program is fully implemented, a majority of Americans will be exempt from paying any federal income taxes. And, instead of a tax bill, most of them will get checks from Washington every year.
“Under the guise of cutting taxes and ‘making work pay,’ Obama is effectively putting a majority of Americans on welfare….
“Obama’s refundable tax credit is a permanent part of the tax code, an entitlement we’ll have to honor year after year….
In the end, we lit our own economic forest fire through our complacency while Congress ran amok. But Obama’s plan, fueled with Rahm Emanuel’s philosophy (“Never let a good crisis go to waste”) leaves little to chance: He promised he was going to “fundamentally change America as we know it” and this may well be his goal.
And if that isn’t enough, as Michelle Malkin notes in her excellent piece, “It’s All About The Boodle”, Obama’s financial reform plan, like his stimulus package, healthcare and national service expansion, calls for publicly subsidized “funds” (aka “bribes”) to implement his program. In this case, about $50 billion more of your tax dollars. Hey, he may be deceptive, disingenuous, dishonest, misleading and a threat to “America as we know it”, but at least he’s consistent.
Returning to the Titanic metaphor, Obama appears to be changing course to hit the iceberg head on, while calling to the engine room, “Full Speed Ahead.” My advice? Financially speaking, I recommend you don your life jackets and don’t stray far from the lifeboats.
Oh yeah… and one more thing: brace for impact.