Flaws in the Obama Deficit Concept

April/17/2011 17:34PM
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In his deficit speech, President Obama laid bare his philosophy of American greatness. He said we did not become a great country until 1965 when entitlements kicked in and we began to let government take care of all of our problems.

To make the Obama plan work, we need more and more rich people to pay the bills. With the top 2% footing the bills for 50% of the tax revenue, we either take more and more or all of their earnings and provide that to fund Obama’s version of American greatness. Government decides who gets help and how much they need and get.

At the same time Obama needs more and more success stories in the country to fund his spending, he attacks the structure that creates this wealth. Fat cats, he calls them. Regulations, that make earning money in the amount the entitlements cost, harder. Environmental costs that syphon off capital to create wealth. Poorer and poorer education to arm young people to be successful. Taxes that discourage success. A poor economy that makes earning more less likely. An aging population that doesn’t work and doesn’t earn.

The figures for his proposed tax increases over the next 12 years add up to $1 trillion, far short of the amount needed to fund his version of a great country.

I didn’t realize that I grew up and graduated from college and began my career in a substandard country. To me there were less problems then than there are now. We still didn’t lock our doors, kids played in the streets and roamed all over town without fear of perverts, and non-union teachers turned out the best graduates in the world. I don’t accept the president’s perception of this country and I’m tired of his apologies around the world for America. Now, I’m really upset that he tells us our history before the Johnson Administration was mediocre. Tell that to the few WWII vets still alive.

I’m sure the leaders of the USSR told their citizens there the same story. We got satisfaction from seeing them go down. I don’t feel so smug now. This president has it all wrong and he needs to get it right or find a new job.

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