In the end, Mitt Romney’s vision for America did not generate the support necessary to elect him president. I find that fact perplexing and deeply dispiriting, but no amount of analysis or angst can change the fact that Barack Obama was given another four years to complete the “transformation” he promised back in 2008.
Here’s some of what we could have stopped - but didn’t:
- Obamacare will now be fully implemented, driving private insurance out of business, since no one can compete with an entity that can print its own money. And yes, healthcare will be rationed for all but the wealthiest among us.
- Two or three more Leftist ideologues will be appointed to the Supreme Court, creating a new majority which will twist (or ignore) the Constitution to enact its statist, liberty-stealing agenda.
- With the tax increases coming in January, including those embedded in Obamacare, thousands (if not millions) of small companies struggling to survive on the slimmest of profit margins will simply disappear, along with the jobs they had created.
- Another trillion dollars a year will be added to the already astronomical sum that somebody owes to someone.
- Regulations and notices, now being issued at the rate of 68 per day, will tighten the choke hold on American enterprise across the board, disincentivizing entrepreneurs from putting their effort and equity into an increasingly toxic economic environment.
The fact is, we appear to be in a brief historical transition in which a majority of Americans now support the basic tenets of socialism while living on the fast-diminishing wealth produced by previous generations of capitalism. In essence we are cannibalizing for short-term satisfaction the once unimaginable storehouse of riches created by our forefathers through ingenuity, freedom, thrift, and hard work. We have now begun to feed our appetites and sense of entitlement by doing what used to be called “eating our seed corn.”
The resilience that has always defined America may prevent us from imploding overnight, but make no mistake: the solvency of our country is at the breaking point. We could indeed become Greece, and tragically, whether by destructive design or imperious indifference, the ruling class seems bent on keeping us on this perilous course.
For our part, the Cabot Institute will continue to advise clients on the best strategies for survival in these perilous times, and we encourage you to invite us into the conversation as you plan for 2013 and beyond.