Fear and loathing
I've been relatively upbeat about the economy where my business is concerned -- I'm still getting calls from recruiters and I see that there are contracts out there. However, lately I've been feeling uneasy with the future.
Every time President Obama opens his mouth, I feel like the Democratic party is using the economic recession as an excuse to push through a slew of big government socialist programs that would otherwise never see the light of day.
Some of the things buried in these bills is simply scary. The Wall Street Journal had an op-ed piece that nicely summarizes and captures my feelings. Its nice to see that I'm not the only one who is nervous (Click HERE for the Wall Street Journal article).
Obama has yet to put forth a plan to address the credit crisis or economic malaise that is effecting our country, but instead is pushing to change the foundations of American capitalism.
Just think about this:
New and expanded refundable tax credits would raise the fraction of taxpayers paying no income taxes to almost 50% from 38%. This is potentially the most pernicious feature of the president's budget, because it would cement a permanent voting majority with no stake in controlling the cost of general government.
I was stunned. This is what stick it to the rich means -- more half the population will pay no tax at a time when Obama is rolling out massive new initiatives for health care, spending trillions on bailouts, while not seriously tackling the explosion in costs (or expected defects) associated with Medicare, Medicaid, and Social Security.
Under Obama the military will be drawn down to what it was before WWII.
Are they working on resolving these issues? No, they seem to be putting most of their effort in attacking a radio talk show host -- Rush Limbaugh, because he isn't popular with focus groups.
Even Geitner, the Treasury Secretary is worried about Global warming during his recent testimony to congress on what the government is doing about the economic crisis. If he things Global warming is what the Treasury Secretary should be focused on, them perhaps we need a new Treasury Secretary.
