Donald Lambro

But this has been the goal of Obama's big-spending, government-expanding policies from the beginning: the Europeanization of the United States that offers cradle-to-grave care for everyone by taxing everything that moves, including a new Value Added Tax on every product that liberal Democrats are promoting in Congress.

A blockbuster spending report due out this week from the Heritage Foundation's chief budget analyst, Brian Riedl, "shows spending and deficits continuing to grow at a pace not seen since World War II.

"Washington will spend $30,543 per household in 2010 -- $5,000 per household more than just two years ago. While some of this spending is a temporary result of the recession, President Obama's latest budget would replace this temporary spending with permanent new programs," Riedl reports. "Simply put, all parts of government are growing."

The result is unprecedented debt that, like the debts that engulf many European countries, threaten to bankrupt our economy and undermine global confidence in our ability to pay back over $13 trillion in loans.

The budget deficit will hit $1.5 trillion this year, with future yearly deficits expected to average nearly $1 trillion over the next decade, doubling the national debt and quadrupling interest costs over the next 10 years.

And it isn't just this administration's policies that are undermining the U.S. economy and public confidence in the future. It is also the president's relentless attacks on U.S. corporations and our financial markets, calling for federally imposed limits on their growth, higher taxes on venture capital and lately, even questioning when, in BP's case, such corporations should be forbidden to pay stock dividends to their shareholders.

Left wing Democratic Sen. Ron Wyden of Oregon is demanding that BP suspend its dividends, which of course would hurt pensioners who depend upon them for income. But Obama warmed to the idea.

Other Democrats want to go farther. Bill Clinton's former Labor Secretary, Robert Reich, is demanding that the government seize control of BP, a move the Supreme Court ruled illegal in 1952 when President Truman nationalized the U.S. steel industry.

This is the dangerously radical direction that this administration is taking our country. It has declared war on big business and profits, initiated lawsuits against major corporations, often based on little or no evidence, and is pushing higher corporate taxes of one kind or another at a time when businesses are struggling to survive in a jobless era.

This is an investment-starved economy where venture capital is on strike in the face of Barack Obama's policies to tax it into oblivion. The economy remains anemic because the administration is sucking more money out of the private sector, which has grown weak and undernourished, and stuffed it into government that has grown fat, powerful and arrogant.

That's why few real jobs were created last month, why the jobless rate is still hovering near 10 percent and why Democrats are in for a drubbing in the midterm elections.

Donald Lambro

Donald Lambro is chief political correspondent for The Washington Times.