Carol Platt Liebau
The federal deficit is higher than it has been since the years immediately following World War II.  Every second, the government spends $41,210 that it doesn't have.  We just put it on the charge card for our children and grandchildren to pay off.

Yet in a new ad, the Obama campaign insists that we should be worried about Mitt Romney . . . driving up the deficit.  Obama argues that the answer is having "millionaires pay a little more" in taxes. That's despite the job-killing effect of raising taxes during a steep economic slowdown.

What's more, recent history shows that  millionaires accounted for only about .17% of tax returns; if the government confiscated every cent earned by millionaires in a given year, it would amount to less than half of the new debt we are assuming each year.

The President isn't really looking for a solution to the problems he has created.  He's looking for a group to demonize, in an effort to redirect Americans' irritation and frustration over the mess he's created.

If you're looking for a different approach, check out the economic proposals coming from the Romney campaign . . . the combination of reducing government spending, cutting taxes and repealing some of the Obama regulatory overkill is estimated to produce 12 million new jobs in his first term as president. 

Carol Platt Liebau

Carol Platt Liebau is an attorney, political commentator and guest radio talk show host based near New York. Learn more about her new book, "Prude: How the Sex-Obsessed Culture Hurts Young Women (and America, Too!)" here.