US Action News

Instead of giving people what they deserve, or getting what you have earned, egalitarianism advocates making everyone more or less equal, regardless of character or conduct. So those who are less productive should get the same benefits as those who produce more, and the state plays the role of an equalizer of entitlements. – Capitalism Magazine

Obama proceeded to pass his own $830 billion stimulus, auto bailouts, mortgage relief plans, the Dodd-Frank financial reforms and the $1.7 trillion ObamaCare entitlement… While spending did come down in 2010, it wasn’t the result of spending cuts but rather because TARP loans began to be repaid, and that cash was counted against spending. – Wall Street Journal

Obama’s private sector comments are not a gaff says Britt Hume. They fit his real belief that the public sector and especially public employee unions are more important than the private sector. Hume reminds us that the president’s experience is as a “community organizer.”

“Mrs. Thatcher foresaw with painful clarity the devastation it was bound to cause. Her autobiography records how she warned John Major, her euro-friendly chancellor of the exchequer, that the single currency could not accommodate both industrial powerhouses such as Germany and smaller countries such as Greece.” Thatcher predicted the currency would harm poorer countries because it would “devastate their inefficient economies.” – Washington Examiner

At a certain threshold, there is no painless way to pay the interest except to borrow more money. That increases the interest payments due next year, and so the “solution” is to borrow yet more next year. – of two minds.com

Another nail in the Obama election coffin. Food stamp use is up 100% while family net worth and incomes are falling.

[A]s we attempt to cushion ourselves against recession by running large federal deficits, we also weaken the economy our children will inherit. We also increase the probability that we’ll later face our current economic problems all over again, precipitating another future debate on whether we need still more stimulus spending. When that debate happens, federal finances will be even weaker than they are now.

The situation has become so critical that European leaders reportedly are working on the issuance of joint euro bonds to rescue euro. That might save the euro, but here’s one scary question for all–How long can this bailout train and money printing press keep on running?

Contrasting the dependency mentality in the Obama’s “Life of Julia” campaign with the traditional American approach of self reliance and individual achievement. Video from the Center for Freedom and Prosperity Foundation.

Note the warning from 1964 about Democrats being “prone to spend money .. when it’s rather doubtful whether or not it is good for the country and for the interests of the people. Because you pile up your national debt. You pile up the interest. You pile up these staggering deficits that we have at the present time. And that spends itself in terms of higher interest rates, higher prices in the stores where people shop. And so the evil effects always fall upon the people back home.”