[Homestead] Upcoming - under Dem/Obama reign - wsj
bobford79 at yahoo.com
Tue Oct 28 08:00:51 EDT 2008
Wall Stree Journal:
So where is the new Obama administration likely to take us? Seven things seem certain:
*The U.S. military will withdraw from Iraq quickly and substantially, regardless of conditions on the ground or the obvious consequence of emboldening terrorists there and around the globe.
*Protectionism will become our national trade policy; free trade agreements with other nations will be reduced and limited.
*Income taxes will rise on middle- and upper-income people and businesses, and individuals will pay much higher Social Security taxes, all to carry out the new president's goals of "spreading the wealth around."
*Federal government spending will substantially increase. The new Obama proposals come to more than $300 billion annually, for education, health care, energy, environmental and many other programs, in addition to whatever is needed to meet our economic challenges. Mr. Obama proposes more than a 10% annual spending growth increase, considerably higher than under the first President Bush (6.7%), Bill Clinton (3.3%) or George W. Bush (6.4%).
*Federal regulation of the economy will expand, on everything from financial management companies to electricity generation and personal energy use.
*The power of labor unions will substantially increase, beginning with repeal of secret ballot voting to decide on union representation.
*Free speech will be curtailed through the reimposition of the Fairness Doctrine to limit the conservative talk radio that so irritates the liberal establishment.
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