By Alan Caruba
America is dying a death by a thousand cuts in the form of hidden and explicit taxation, the insane generation of new regulations, and the resulting massive unemployment. Obama just selected a new economic advisor who is known to favor a value-added tax that would drive up the cost of everything you purchase.
It’s not like solutions to our economic disaster are not known. They are and the Obama administration will not implement them. They do know what they are doing and it is deliberate.
On September 7, in the guise of a jobs speech Obama will offer massive new spending programs. The money for them would have to be borrowed. The interest on that borrowing would sink the nation further into debt.
In the August 31 edition of The Wall Street Journal, an editorial revealed that, when Speaker John Boehner asked the White House to disclose any “major” federal rules in the works with estimated economic costs of $1 billion or more, he was informed that the Obama regulatory agenda for 2011 contains 219 proposed such new regulatory initiatives.
In 2010 the administration had 191 proposed regulatory initiatives in the works which combined with those proposed in 2011 add up to a total of 410. By contrast the first two years of the Bush administration rulemaking accounted for only 103 new, major regulations.
Of seven pending major rules estimated to cost more than $1 billion one includes the Environmental Protection Agency’s ozone regulations, estimated to cost $90 billion if Congress does not step in and put a stop to it. The EPA is trying to eliminate one tenth of all the utilities that provide the electricity the nation needs to function.
The Competitive Enterprise Institute’s experts on regulation have concluded that the present cost of federal regulation to businesses that must comply with them is $1.75 trillion annually.
If you visit USA Action News.com, you will find an issues section devoted to the Cloward-Piven strategy named after two socialist academics who spelled out just what it would take to economically destroy the nation. It is being implemented by the Obama administration.
Posted at TPN