"On the practical side, Obama has spent more money on new programs in nine months than Bill Clinton did in eight years," according to www.politico.com.
President Barack Obama's deficit reached $1.35 trillion on his 2010 budget of $3.8 trillion, more than one-third of the budget itself.
The nation has become accustomed to deficit spending. Many years ago the deficits were in the billions, then the hundreds of billions which the nation complained about from time to time, but accepted nevertheless.
However, America is now entering the waters of an uncharted sea of thousands of billions — trillions.
Trillion has become just another word, and therein lies the danger.
Americans are beginning to tune out to the dangers of such a course, adopting an attitude of "what can we do about it anyway?"
President Obama and his principal financial backer, George Soros, the billionaire who gained his wealth by "breaking the Bank of England," represent formidable obstacles in reversing the trend of unsupportable deficits extending into the foreseeable future.
George Soros believes and so states that the United States needs a "regime change." That may sound simply as a Republican administration replacing a Democrat administration and vice-versa.
That is not what George Soros means.
The definition of regime is "system of government." Government systems as Americans know them are democratic republic, which the United States is; socialism, which we do not want; and communism, which we abhor.
Since George Soros wants a change, that means he rejects the present concept of a democratic republic. Just which of the other two systems he prefers, socialism or communism, is not quite clear.
We do know that he has been very successful in bringing about regime changes in the nations that he has targeted for change in Eastern Europe. Soros has been involved in regime changes for some time. He helped fund the 1989 "Velvet Revolution" that brought Vaclav Havel to power in the Czech Republic.
Soros claims he helped engineer coups in Slovakia, Croatia and Georgia.
When Soros targets a country for "regime change," he creates a shadow government — a fully formed government-in-exile, so to speak, ready to assume power when the opportunity arises.
Soros has already, and very openly, established his shadow party in the United States, resembling those he created in other countries. He patiently awaits the opportunity to bring his shadow party into power. Soros will not bring his shadow party into power by democratic elections. His "change in regime" will, no doubt, be a financial crisis. This method more closely fits his style.
George Soros is a master at currency manipulation. He proudly boasts of his shorting the pound which broke the Bank of England and made him a billionaire in a single day.
The United States is slipping into very dangerous waters with trillion-dollar deficits increasing and reaching into the future. The nation is covering some of its losses by borrowing from the Far East, principally China.
As of December 2009, the U.S. debt held by China was approaching $900 billion; Japan, more than $765 billion; oil exporters, $207 billion; Brazil, $169 billion; Hong Kong, $149 billion; Russia, $12 billion; and other nations, $1.36 trillion, for a grand total of $3.69 trillion.
The interest on our public debt keeps mounting. A sudden change prompting a worldwide financial crisis could drive interest rates to the point that the United States would be unable to meet its financial obligations and go into default as witnessed by the nations of Spain and Greece.
The United States is far from such a catastrophe at present, but continued trillion-dollar deficits and other uncontrollable monetary policies are leading the nation in that direction.
Adding to the nation's problems is the arbitrary decision of the president to appoint a number of individuals to form a wide range of organizations for the purpose of giving him direct advice. These appointees have become known as czars.
Neil Cavuto, managing editor and anchor of Fox Business News, offered an analysis in June 2009. There are czars for everything from cars to drugs, from healthcare to urban affairs. What is so unique about these czars is that they are answerable to no one, confirmed by no one, approved by no one and second guessed by no one. They are not obligated to give interviews to the press and they don't.
According to Cavuto, the combined budgets of just 16 of these czars total $1.7 trillion. Glenn Beck counts the number of czars at present to be 32.
The foregoing analysis of American financial and other fiscal matters should be of concern to all Americans. The irresponsible management of our fiscal affairs will eventually lead the United States down the road to inflation.
The Obama Administration has two more years to go before the presidential election of 2012.
The American electorate must make certain in the upcoming congressional elections in the fall of 2010 that duly elected congressmen must be fiscal conservatives, regardless of party.
The days of big spending and deficit financing must be brought to an end or the Republic as we all have known it will not survive.
E. Ralph Hostetter, a prominent businessman and agricultural publisher, also is a national and local award-winning columnist. He welcomes comments by email sent to email@example.com.
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