According to last month's Newsweek cover story, "We Are All Socialists Now," the "America of 2009 is moving towards a modern European state" -- whether we like it or not:
- A decade ago our national, state and local government spending was 34.3 percent of gross domestic product, while next year it will reach 39.9 percent, and America "will become even more French."
- So there will be "more government taxing and spending," and "more government intrusion in the economy will almost surely limit growth (as it has in Europe, where a big welfare state has caused chronic high [double digit, as the norm] unemployment)."
Obama promised to increase federal spending by $303 billion a year, or 10 percent, but the recessionary emergency spending bill he signed last week will cost a minimum of $790 billion over the next several years. It is the largest annual spending increase since World War II, an enormous deficit-spending bill that, as the Wall Street Journal pointed out,
expands "the role of the federal government across the breadth of American business, health care, energy and welfare policy."
If the spending increases and tax reductions of the bill are extended over 10 years, the Congressional Budget Office estimates they will add $1.7 trillion to the federal deficit. And since there are no sunset provisions to end the spending increases, we can be sure that any "cuts" in federal spending will be vigorously opposed...
[And with fewer and fewer Americans paying any Fed. income taxes...]
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image toon - sclm bbro - OB at Constitution signing re rights to health care-green energy - bailouts
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