This article was co-authored by Stephen K. Bannon.

This week, the non-partisan Congressional Budget Office released a report on President Obama’s 2011 budget that ought to shock every single American.  According to the CBO, the federal government’s debt, which was $56,000 per-household at the beginning of President Obama’s tenure one year ago, has risen to $72,000 per-household today, and is expected to skyrocket to $170,000 per-household by 2020.  Should the CBO’s estimates prove accurate, the federal debt would represent 90% of the Gross Domestic Product of the United States in less than 10 years. 

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For some incomprehensible reason, Washington politicians have their heads planted firmly in the sand and refuse to acknowledge the looming disaster.  Instead of addressing the problem, last week, with Speaker Nancy Pelosi and Senate Majority Leader Harry Reid looking on approvingly, President Obama signed a nearly $1 trillion health care bill into law.  We’ve gotten to a point that 65% of Americans believe that the federal debt is the greatest threat to America’s future. 

But we did not accumulate a $12 trillion dollar debt overnight. This is not a problem that can be laid solely at the Obama Administration’s feet, nor is it entirely the fault of the free spending Congress led by Speaker Pelosi and Majority Leader Reid.  America’s problems go far deeper than the policies of one administration – they are a result of a systemic rot that has eaten away at the financial foundation of our economy for decades.  It is the class of elite incumbents – politicians, bankers, and academics alike – that were reared in the self-indulgent 1960’s and who came to power in the 1990’s that have led us to the brink.  (more…)

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The narrative currently being written by the new left posits that opposition to their attempts to reform health care is fueled by political impotence, crackpot extremism and racism. Alas, elected officials demonstrating contempt for the people they represent has sadly become the rule rather than the exception. Calling the American people Nazis and fools may make a more compelling story than the truth, but it will not alter the fact that Americans simply do not want the expensive, top-heavy government healthcare boondoggle currently being stuffed down their throats.

The new left is always convinced they are the smartest folks in the room. We hear some version of their arrogance all the time: they know better how manage our retirement dollars; they know better how to manage private industry, they know better how to deliver health care. The American people may be many things, but contrary to the tale being spun by the new left, they are not a bunch of dull-witted penny stinkers. Even when our math is poor our noses can smell a pile of political doggy doo a mile away. (more…)

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Cap and Trade, the biggest tax increase in American History, sailed through Congress without anybody even bothering to read it. What will prove to be perhaps the biggest historical change to the American way of life seemed nothing more than a Congressional mouse click, the Terms of Service Agreement on a new software installation. What is it about Democrats that they have such trust in other Democrats?

There was no debate, no discussion; in fact the bill wasn’t even finished when they started voting on it. Yet they all knew they would like everything in the bill, and rushed the vote. I’m somewhat envious of the common goal they all seem to share, but I’m also suspicious of why nobody bothered to read it. Granted it was fifteen hundred pages, Fourth of July recess, and the deposit on the Martha’s Vineyard cottage wasn’t refundable.

I think there is also something else at work here: Democrats tend to have more faith in the system than they have in the individual. When President Reagan tried to close the Department of Education, he was considered to be against education. It’s not just spin, Democrats really think that way. They feel it’s important to keep the Department of Education, because without it, there will be no education. Without the Department of Health, we would all be sick; without the Department of Commerce, the economy would fold. Ditto for the FDA, the FCC, FAA, and the rest of the alphabet soup. (more…)