Obamanomics: The sobering reality

Thinking Americans are becoming increasingly alarmed regarding the shaky state of the economy and soaring national debt amid Barack Obama’s mounting and unsustainable federal spending. Anxiety levels have amplified as we’ve watched the seizure of the bank accounts of private citizens as a government bailout scheme to keep the nation of Cyprus afloat in the European Union. Who could not experience anxiety over likely parallels right here at home?

Former U.S. Rep. David Stockman, who served as Ronald Reagan’s budget director from 1981 to 1985, has written a must-read op-ed commentary in the New York Times, titled “State-Wrecked: The Corruption of Capitalism in America.”  Stockman’s somber, funereal op-ed lays out his conviction that the American economy has already driven off the cliff, that we’re now in a slow freefall, just a few crises away from slamming into the ground.

A takeaway from David Stockman’s op-ed:

“Without any changes, over the next decade or so, the gross federal debt, now nearly $17 trillion, will hurtle toward $30 trillion and soar to 150 percent of gross domestic product from around 105 percent today. Since our constitutional stasis rules out any prospect of a “grand bargain,” the nation’s fiscal collapse will play out incrementally, like a Greek/Cypriot tragedy, in carefully choreographed crises over debt ceilings, continuing resolutions and temporary budgetary patches.

The United States is broke – fiscally, morally, intellectually – and the Fed has incited a global currency war (Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling) that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.”

Then for additional sobering advice, check in with American Thinker’s column “We Happy Few” by Lee DeCovnick, who suggests three actions Americans should take to prepare for the coming financial meltdown. This is important information.

He includes this analysis:

“Americans are at dangerous crossroads, as the previously fixed constitutional safeguards between a citizen’s individual rights and rapacious government overreach are being swiftly dissolved. The hard progressive Left’s bizarre drive to micromanage our bodies, our air, our food and water, our private property, our guns and even our thoughts reveal the Orwellian hell in store for America. All the while the MSM tells us that our newly affixed handcuffs and leg irons are necessary tools to ensure safety and fairness, and to end the disproportional disparity in outcomes that white working men have devised in their pursuit of a racially pure, homophobic, misogynistic society.

 We are being forced to our knees by the radical ideas daily forwarded by this malignant Administration, hell bent on disarming citizens, muzzling dissent, impoverishing working Americans, and purposefully creating economic chaos to foment a proletariat revolution. But then, what will happen to those racists white working bourgeoisie who paid their taxes, attended church and voted against Big Brother?

We few, we happy few, we band of Bill Ayers’s incorrigible 25 million capitalists, we will then recall the blood soaked baskets of the Place de la Concord.”