The authors, two former Treasury officials, one an economist and the other a former deputy secretary, make the case that the Obama presidency, with the aid of a Democrat-controlled congress, is dragging the country toward almost certain ruin. They write:
His bullying and offenses against the economy and job creation are so outrageous that CEOs in the Business Roundtable finally mustered the courage to call him "anti-business."
Veteran Democrat Sen. Max Baucus blurted out that Obama is engineering the biggest government-forced "redistribution of income" in history.
Fear and uncertainty stalk the land. Fed Chairman Ben Bernanke says America's financial future is "unusually uncertain."
A Wall Street "fear gauge" based on predicted market volatility is flashing long-term panic. New data on the federal budget confirm that record-setting deficits in the $1.4 trillion range are now endemic.
Obama is building an imperium of public debt and crushing taxes, contrary to George Washington's wise farewell admonition: "cherish public credit ... use it as sparingly as possible ... avoiding likewise the accumulation of debt ... bear in mind, that towards the payment of debts there must be Revenue, that to have Revenue there must be taxes; that no taxes can be devised, which are not ... inconvenient and unpleasant ... ."
Opinion polls suggest that in the November mid-term elections, voters will replace the present Democratic majority in Congress with opposition Republicans - but that will not necessarily stop Obama. A President Obama intent on achieving his transformative goals despite the disagreement of the American people has powerful weapons within reach. In one hand, he will have a veto pen to stop a new Republican Congress from repealing ObamaCare and the Dodd-Frank takeover of banks.
In the other, he will have a fistful of executive orders, regulations and Obama-made fiats that have the force of law.
Believe it or not this litany of grievances is only the half of it. Read the IBD column for the rest and perhaps pass it on to those of your friends who swooned as Mr. Obama enchanted the nation, or at least a majority of its voters, with his eloquent promises to "fundamentally transform" America. He certainly is doing that - sort of like killing the goose that layed the golden eggs transformed the society that was home to the goose.RLC