President Obama challenged Americans on Tuesday night to unleash their creative spirit, set aside their partisan differences and come together around a common goal of outcompeting other nations in a rapidly shifting global economy.
In a State of the Union address to a newly divided Congress, Mr. Obama outlined what he called a plan to “win the future” ”” a blueprint for spending in critical areas like education, high-speed rail, clean-energy technology and high-speed Internet to help the United States weather the unsettling impact of globalization and the challenge from emerging powers like China and India.
“The rules have changed,” he said.
But at the same time he proposed budget-cutting measures, including a five-year freeze in spending on some domestic programs that he said would reduce the deficit by $400 billion over 10 years.
“[i](R)educe the deficit by $400 billion over 10 years[/i],” aye. That is the proverbial drop in the bucket, even if it were to be achieved, which, if history is any guide, it will not. I am reminded of the comment attributed to the late Senator Everett Dirksen, but updated to the present and paraphrased as follows “[i]$400 billion here, $400 billion there, and pretty soon you’re talking real money[/i].” And that would have occurred at a time when there still remained “[b]real money[/b]” in the United States—Federal Reserve silver certificates, redeemable on demand in a specified weight of silver, unlike today’s [i]fiat[/i] currency. The United States, [i]a la[/i] 1923’s Weimar Republic, anyone?
[i]Pax et bonum[/i],
Keith Töpfer
Cut spending, cut spending. Is it 2012 yet? I pray every day for my country. Get these marxists out of my congress, senate and white house. Now!