The country Obama described last night is not the country we are living in. He said we have to be careful not to return to the policies of the past, which caused the housing bubble and the financial crisis, which is right—we can’t ‘return’ to those policies, because we never left them to begin with. The Fed has even lower interest rates than at the origin of the crisis, and the President asks for our permission to allow the hiring of MORE bureaucracy to ‘police’ the financial environment, so we will continue to implement the very policies the President is criticizing in his speech. Payroll tax cuts without cuts in spending do not benefit us, despite what any progressive spender may tout. Where will that money come from? It will be borrowed, as is all money we don’t have, which is spent on things that aren’t necessities, like war, and on a federal government bureaucracy that is in dire need of curtailing. We may be able to hold on to some extra money from our paychecks each week, but it will be worth even less, and that tax cut without any cuts in spending simply prolongs our enslavement to the Federal Reserve, which didn’t make it into his speech, just as our ever-growing national debt didn’t make it. Not talking about the elephant in the room does not mean it ceases to exist. It’s there, and it will be impossible to ignore for much longer if we do not address the problem. Our debt will be the end of us, and we must be willing to accept the fact that serious cuts need to be made on our country’s budget, and we must be willing to accept the fact that we must live within our means, rather than ignoring the issue and continuing to nurture our debt-financed prosperity. The only way to begin digging our way out of this debt is to adopt some much-needed frugality, and we will suffer for a while, perhaps more than we’ve suffered in a very long time, but it’s a more reasonable option than continue to spend both our dollar and our national sovereignty into oblivion. The collapse of the dollar promises chaos of proportions we dare not attempt to even conceive, and it is that chaos which those financiers lending us the funny money to go to war and to pay the bloated federal bureaucracy may well exploit to pitch their ‘solution’, an unchallenged world system of banking, free of regulations, and on their terms, and I, for one, am willing to do the impossible to avoid that from ever having any opportunity to rear its head.
J. González Solorio