Can Americans have an Empire and Eat Too?

Jan 19,2009 170 Million Dollar Inauguration amidst financial crisis?

Each passing day brings gloomy economic news for Americans. Rumors of coming desperate measures surface as citizens speculate about what actions the U.S. Federal government will take.

Prominent writers spell out the case for economic collapse in America. While our government persists with bailouts, one accurate forecaster of our present situation, Peter Schiff, in a recent article, says:

"The unpleasant reality is that years of bad monetary and fiscal policy have over encumbered our economy with debt and undermined our industrial capacity. The sooner we can begin to repair the damages, the sooner we can right the ship. If instead we merely administer more of the same, the ship will sink in a sea of inflation."


But what is Obama's economic plan? Here (CLICK PDF) you can read it for yourself. It sounds very promising. For example here is one:
"Create Fund to Help Homeowners Avoid Foreclosures: In addition to taking important steps to prevent mortgage fraud from occurring in the future, Barack Obama will establish policies to help Americans currently facing foreclosure through no fault of their own." Later "The fund will also assist individuals who purchased homes that are simply too expensive for their income levels by helping to sell their homes."

Wait...through no fault of their own? Who's fault is it then? Mine? Here is another:
"Provide Middle Class Americans Tax Relief
Provide a Tax Cut for Working Families: Barack Obama will restore fairness to the tax code and provide
150 million workers the tax relief they deserve. Obama will create a new “Making Work Pay” tax credit of up
to $500 per person, or $1,000 per working family."

Again - stop and think - if the country is in such dire economic trouble how are we going to continue current spending while lowering taxes? How can we increase government programs, provide bailouts and maintain our global empire without eventually having to actually pay for all of it? Ron Paul recently spoke on this topic:

Americans voted for, and hope for change. But already, as pointed out by Jeremy Scahill here (CLICK) it seems Americans may be in for more reruns from past administrations and lip service. An excerpt:
"But the best immediate indicator of what an Obama administration might look like can be found in the people he surrounds himself with and who he appoints to his Cabinet. And, frankly, when it comes to foreign policy, it is not looking good."

Peter Schiff has doubts about planned government action too:

Regardless of government action - we're all really on our own. Pain-free solutions to colossal problems seem against the laws of nature. Perhaps the best advice is the Boy Scout motto: "Be Prepared."

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