Obama's Unbelievable "Statist of the Union" Speech Promises a "New Foundation" for U.S. Economy

By Lowell Ponte

In his "State of the Union" speech, President Obama recalled his campaign promise to "rebuild our economy on a new foundation." He offered few specifics Tuesday night, promising instead to "in two weeks... send this Congress a budget filled with ideas that are practical, not partisan." In previous years he had spoken of his plan to "fundamentally transform" the United States, and to "Joe the Plumber" of his belief that America works best when we "spread the wealth around." White House media allies reported that Mr. Obama has been planning to increase federal expenditures by at least 7 percent, despite a national deficit that has grown by an astonishing $7.5 trillion since he became president in 2009. As with Obamacare, "Doc Barack" apparently still believes in the collectivist progressive notion that government can create health, wealth and happiness by prescribing ever-greater doses of the hallucinatory, addictive drugs of taxing, spending and borrowing. [more...]