In today’s UKTimes, Daniel Finkelstein writes about the reasons why Americans voted for Barack Obama as President of the United States. His primary premise is that America itself is richer, smarter and less white.
Let’s ponder that statement for a moment.
Nope, I’m not buying all of it.
America on Election Day was decidedly poorer than it was in 2004 when George W. Bush was elected President. In fact, the Committee for a Responsible Budget recently reported that U.S. budget deficit numbers hover near $1 trillion dollars. According to an ABC News Report, this deficit represents the
highest level of federal red ink as a share of the overall economy of any US budget since the 1940s. For each household, this year’s deficit would pile on an extra $8,620 of federal debt.
So much for being us being richer.
As for being smarter, Americans chose to elect a man who, by his own admission, wants to “spread the wealth around.”
But with a $1 trillion dollar deficit, there is not going to be much opportunity to use the tax code to create wealth here in America for a long time, especially with all of the economic promises made during the election cycle.
And the sad fact is that many of the promises made during the campaign are sure to be broken as the harsh reality of our diminishing economy, and the global economy as a whole, become more and more evident to all of us.
Besides, our first priority should be to reduce government spending before we commit any additional federal dollars for new programs. But we can only accomplish this task by cutting earmarks and reducing the size of government, two things which are unlikely to occur with overwhelmingly Democratic representation in both houses of Congress and in the Office of President.
The only way out is through economic growth, which cannot occur if capital gains taxes are not drastically reduced. Without decreased taxation, American corporations are not incentivized to create new jobs. And as the global economy continues its downward spiral, the American economy will also continue to suffer from lack of capital, increasing interest rates and growing deficits in international markets.
We need to produce something the world wants.
And we need to figure out what that might be…quickly. But the truth is that the entire world is in uncharted economic territory. None of the stop-gap measures taken in any country have halted the economic skid.
And nobody is buying anything right now.
But creating more government jobs is not a solution. It is an act of inherent self-destruction.
We tax ourselves more to create more jobs for which we tax ourselves more to keep our jobs. Before long, we start to look a lot like…China…or Cuba. Pick the communist country of your choice.
Which brings me to Finklestein’s last point: America is less white.
And I agree with him on this point:
Amerika has become a red state. She not only finds herself in the red financially, but she is in the red ideologically.
Legislating and agressively promoting marxist economic policies, the Democrats have, in this election, purchased for themselves two years of our time and our money to use as they see fit with more Fannies, more Freddies, and far less accountability than ordinary citizens can even imagine.
But the people of America have spoken. They must really like the blues.
As for me, I’m seeing red.
And I don’t like it.