Many on the right warned voters that if Barack Obama was elected he would spend even more money than George W. Bush and Republicans in Congress had spent. They warned he would enact policies that fit his “spread the wealth” philosophy and that his administration would be hostile to business. They warned that with a Democrat-controlled congress he would attempt to pass an very liberal agenda. In one short month, President Obama has exceeded even the wildest expectations of many of his critics.
During the campaign, those warning Barack Obama would be a typical tax-and-spend Democrat were pointed to the example set by George W. Bush and the Republicans in Congress. Voters were told the Democrats were now the party of fiscal responsibility. It is not accurate to say President Barack Obama has shown himself to be a typical tax-and-spender. He is an extraordinary one. In one short month he has made sure our great grandkids will be paying our debts with his $800 billion “stimulus” bill. At this rate, by the end of his administration George and Jane Jetson will be have a bill, too. If he gets universal healthcare, daughter Judy and their boy Elroy might just owe as well.
During a campaign stop in an Ohio neighborhood, “Joe the Plumber” asked candidate Obama a simple question about small business and taxes. Obama’s response gave voters a glimpse of the “spread the wealth” policies to come, but I doubt even Joe himself would have expected the newly elected President to move so quickly to enact them. The Washington Post recently reported, “President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.”
Not only did Obama exceed the expectations of his critics when it comes to taxing business, but he went where few if any had predicted when he called for a government cap on executive salaries for financial institutions receiving federal bailout money. Some Democrats in Congress even “one-upped” him by proposing restrictions to executive compensation beyond those President Obama had introduced.