Obama's Changing the Rules

By Roger Hedgecock

You can feel the tension in the air everywhere in America these early summer days. Savings have eroded, plans for retirement have evaporated, 6.8 million Americans are out of work, and the rest of us are more uncertain about our jobs now than ever before. Business is bad, and many familiar businesses are failing. "Inflation"? "Deflation"? I don't know. What I do know is that prices for things I buy - food, gas, utilities - are going up. One U.S. dollar in 2000 is worth 70 cents in 2009. But its feels worse than that, worse than a "recession." The Obama government is changing the rules. It's promising that the government can borrow (or print) trillions of dollars to solve problems caused by trillions of dollars of past bad debt. It's promising that good times will return if the government takes over the banking system, gives the auto industry to the UAW, appoints a "czar" to determine how much we can be paid in our jobs, stops all drilling for oil and raises taxes to take over health care. [more...]