Just before his election as president, Barack Obama declared that "we are five days from fundamentally transforming America." He has made good on that promise. Huge increases in federal spending—up 28% in just three years—were the beginning. Putting health care—17% of the American economy—under Washington's control was next. Government control of business is expanding too: 379 new government business rules were added in July alone, according to Sen. John Barrasso of Wyoming. Federal government debt held by the public rose from $6 trillion (40% of GDP) in 2008 to $9 trillion (62%) in 2010, The Congressional Budget Office says it could reach 200% by 2037, if the economy doesn't collapse first.
Transforming America has made Obama's hair greyer. Here's hoping that he doesn't manage to finish the task of finishing America. The latest polls indicate the he may be limited to a single term.
His latest challenge may well be from Texas Gov. Rick Perry's fresh presidential campaign speech: "The fact is, for nearly three years President Obama has been downgrading American jobs, he's been downgrading our standing in the world, he's been downgrading our financial stability, he's been downgrading our confidence and downgrading the hope for a better future for our children. That's a fact." Indeed it is, and it's a fact that bodes ill for the future of America.
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