US Action News

It is said that one is “known by his friends”, but the friends of Barack Obama have not been friends to America.

The new robber barons in the Executive Branch and Congress are not content only with taxing job creators and saddling our children and great grandchildren with trillion-dollar IOUs. They are using hard-earned tax money to finance wind, solar, biofuel and other schemes that primarily reward crony capitalist campaign contributors.

Our Founders understood government and its dangers to our liberty. They feared it above all other threats and tried to create a system of self government through which we could protect ourselves from its tyranny. When their warnings are ignored we get Barack Obama, Nancy Pelosi, Harry Reid, and a government of lies, oppression and national bankruptcy.

A fiscal collapse is now inevitable. Despite his past rhetoric about irresponsible debt, Obama has no plan nor even the desire to curb spending and reduce debt. The debt death spiral is only a few years away from consuming all revenues the government takes in. Taxing everyone 100% will not solve the problem. Obama does not even recognize that there is a spending problem. His Marxist ideology blinds him to reality. Math is too hard for him. Meanwhile we are being crushed between the millstones of taxation and inflation.

Cash for Clinkers turns out to have been bad for the environment and bad for consumers. Will we ever learn? Leftist housing policies caused the housing crisis, environmental policies cost jobs, drive up energy prices and in some cases actually harm the environment. Obamacare is driving up costs and taxes. Has anything the government done worked?

43 cents of every dollar the government spends is stolen from future generations in the form of debt that must be repaid. “Blessed are the young for they shall inherit the national debt.” — Herbert Hoover

They all share the same goal: enrich and empower activists, bureaucrats and liberal politicians – while controlling and impoverishing the rest of us – all in the name of protecting the environment.

With regard to the Democrats, there is no hope for them, and this is literally their last hurrah, as the country is faced with Greek style tough love once interest rates go up to the normal levels again.

Only the rich will pay for all the goodies I give you promises Obama. Yet everyone pays in rapidly rising costs for food, energy, building materials, healthcare and all goods and services. When the answer to insurmountable debt is creating money out of thin air the existing money becomes worth less and less and consequently buys less and less.

It is important to look ahead and try to get a handle on what is coming, because I believe that the rest of this decade is going to be extraordinarily chaotic for the U.S. economy.