The Hugest Heist In History
Brad Harrington
By Bradley Harrington
"What is prudence in the conduct of every private family,
can scarce be folly in that of a great kingdom." --Adam
Smith, "The Wealth Of Nations," 1776--
In a commentary I wrote shortly after the 2008
presidential election, in discussing the upcoming fiscal
policies of the soon-to-be Obama administration, I said:
"You are about to witness a government spending spree
that is going to make the meddling of FDR's 'New Deal'
or LBJ's 'Great Society' look like penny-ante poker in
comparison."
I was chastised, at that time, by many for my "alarmist"
prediction. Now, over a year later, let?s look at the
facts:
(1) Previous spending: in our rear-view mirror, we see
nothing but bailouts--AIG, GM, Chrysler, "stimulus"
spending, etc. Price tag: well over $1 trillion.
(2) Current/projected spending: "jobs" bill just passed
by House; price tag of $154 billion; "omnibus" spending
bill just signed into law by President Obama; price tag
of $447 billion; health care "reform" proposals; price
tag of $1 trillion.
"'The New Deal by today's standards involved a
miniscule amount of spending,' said Allan J. Lichtman,
a professor of political history at American University."
("Analysis: Obama plans eclipsing New Deal spending,"
Tom Raum, Associated Press, Feb. 20.)
And more:
(3) Federal budget: fiscal year ending in 2009, $3.1
trillion; fiscal year 2010, $3.55 trillion, an increase of
nearly half a trillion.
(4) Federal budget deficits: fiscal year 2009, $1.42
trillion; projected federal budget deficit for fiscal
year 2010, $1.1 trillion. Projected federal budget
deficits over the next decade, $9.1 trillion.
(5) National debt: this stood at $9.9 trillion in 2008,
and was lifted to $12.1 trillion in February of this year.
And now Congress, in all of its infinite economic wisdom,
is currently preparing to lift that debt ceiling by
another $1.8 trillion, bringing in our total national debt
at just under $14 trillion--which, in fiscal year 2010,
will equal 98.1% of our GDP.
Translation: Our national debt will soon equal the
ENTIRE amount of production of the ENTIRE United
States for an ENTIRE year. Obama, in repeated
speeches throughout the year, has referred to this as
"fiscal responsibility"--but economic insanity would be
a much more accurate characterization.
So, who pays for it all? Who provides the blank check?
The producers, who else? Money does not grow on
trees, despite what our "leaders" seem to think--if they
think at all. And don't kid yourself about how it's only
the "rich" who will pay for this: there simply aren't enough
"rich" people in this country to fund a $14 trillion bill. The
current national debt now exceeds $31,000 per capita;
when the debt ceiling gets raised in the next few days,
that figure will mushroom to $45,911 for EVERY MAN,
WOMAN AND CHILD IN AMERICA.
This, I submit, is an absolute looting spree, happening
right before our eyes, and, as such, constitutes the
hugest heist in all of human history. It is nothing less than
a thoughtless, amoral, legalized, politically-promoted
plundering of the productive assets of the United States,
and there is only one possible consequence looming
ahead: complete economic disintegration.
And what can we expect from such a collapse? Social
catastrophe, martial law and the final destruction of the
American Republic. What did Rome get when she fell,
devastated by taxes and control? The barbarians and the
Dark Ages. What did Germany's Weimar Republic get
when she was ravaged by hyperinflation? The Nazis and
Adolph Hitler.
THAT is the future that awaits us, should we continue our
present course: and not in some far-off, distant time, but
in the next few years. Is THAT the "American Dream"
you'd like to experience for yourself and your children?
And, if not, what do you intend to do about it? Sit on
your butt, collect a "welfare" check and vote for more of
the same?
If so, you might choose to ponder the words of one
America's Founding Fathers who had a much better grasp
of the issue: "If ye love wealth better than liberty, the
tranquility of servitude than the animated contest of
freedom, go from us in peace. We ask not your counsels
or arms. Crouch down and lick the hands which feed you.
May your chains sit lightly upon you, and may posterity
forget that you were our countrymen!" (Samuel Adams,
Philadelphia State House Speech, 1776.)
As for the rest of us, isn't it about time we rolled up
our sleeves?
--
Bradley Harrington is a former United States Marine
and a free-lance writer who lives in Cheyenne, Wyoming.
Charles Bell
wrote:
> In a commentary I wrote shortly after the 2008
> presidential election, in discussing the upcoming fiscal
> policies of the soon-to-be Obama administration, I said:
> "You are about to witness a government spending spree
> that is going to make the meddling of FDR's 'New Deal'
> or LBJ's 'Great Society' look like penny-ante poker in
> comparison."
>
I'd like to hear something about this from fiscal-conservative
independent/moderate-GOP who specifically said that this would not
happen. Two of them here in hpo: Cathcart and Agent Cooper. A sharp
increase in spending and a precipitous rise in the deficit was already
under way with the Democrat-controlled Congress and adding a wide-eyed
Democrat instead of curmudgeonly fiscally conservative Republican to
the Whitehouse was supposed to make it better?
> I was chastised, at that time, by many for my "alarmist"
> prediction. Now, over a year later, let?s look at the
> facts:
>
Stupefying isn't it? And still . . silence, silence, silence.
Ken Gardner
"Charles Bell" wrote:
>> In a commentary I wrote shortly after the 2008
>> presidential election, in discussing the upcoming fiscal
>> policies of the soon-to-be Obama administration, I said:
>> "You are about to witness a government spending spree
>> that is going to make the meddling of FDR's 'New Deal'
>> or LBJ's 'Great Society' look like penny-ante poker in
>> comparison."
> I'd like to hear something about this from fiscal-conservative
> independent/moderate-GOP who specifically said that this would not
> happen. Two of them here in hpo: Cathcart and Agent Cooper.
Me too. And it isn't like a blind man couldn't see it coming with a cane.
Only they won't be able to BS their way out of this one.
[....]