Turmoil, Trauma, Treachery

Economic dislocation is already escalating. Unemployment numbers are rising. Obama has promised a $3000 tax credit for each job a business creates. Even at minimum wage, a full-time employee will make many times that and that does not include the expense of training and benefits. Once hired, Obama's infatuation with trial lawyers will make it problematic to fire anyone. Under Obama, unemployment in the private sector is destined to skyrocket. Government will try to offset this with massive make-work programs in the spirit of FDR's New Deal or Johnson's Great Society, both dismal and demonstrable failures. The taxes to pay for Obama's government leviathan will only cripple entrepreneurs that much more. Herbert Hoover raised taxes in a recession and did a brilliant job of pushing the economy over a cliff. If Obama follows the path of John Maynard Keynes or Lester Thurow, he will injure the nation irrevocably. He must embrace the supply-siders, follow the path of Milton Friedman and Arthur Laffer and allow private enterprise to grow us out of our current travail. But Obama's animus to capitalism and love of power will prevent this. He will not honor his pledge to lower taxes on 95% of the people. In all likelihood, he will betray many of his own high earning voters and raise taxes on everyone already paying them. This was the victory of populism, progressive prevarication, and power madness over patriotism and productive people.