It’s little wonder that Barack Obama is hammering the word "change" down people’s throats every chance he gets. Because if he gets his economic plan implemented, that’s all we’ll be left with: pocket change.
This Washington Times article pulls back the curtain on the Wizard to reveal all of Obama’s rhetoric as simple big government spend and tax policies:
"Sen. Barack Obama is very gloomy about America, and he is aligning himself with the liberal wing of the Democratic party in hopes of coming to the nation’s rescue. His proposal? Big-government planning, spending, and taxing — exactly what the nation and the stock market doesn’t want to hear."
Has anyone in the mainstream media even dared to question just how Obama plans to pay for all of his programs? The Times article puts forth an educated estimate:
"The Obama spend-o-meter is now up around $800 billion. And tax increases on the rich won’t pay for it. The middle class ultimately will shoulder this fiscal burden in terms of higher taxes and lower growth."
$800 billion? That’s just under $11,000 for every family of four. Given the countless trillions in unfunded liabilities from Social Security, Medicare, state and local government retiree health benefits, is now the best time to embark on such an ambitious spending spree? Moreover, Obama seems to be ignoring some major economic lessons from around the world:
"It would be quite an irony. While newly emerging nations in Eastern Europe and Asia are lowering the tax penalties on capital — and reaping the economic rewards — Mr. Obama would raise them. Low-rate flat-tax plans are proliferating around the world. Yet Mr. Obama completely ignores this. American competitiveness would suffer enormously under Mr. Obama, as would job opportunities, productivity, and real wages."