Glenn started by discussing Socialism. It has failed 100% of the time it has been tried. Today in Europe there are changes away from Socialism. England is enacting a massive jobs cutback with the closure of a substantial number of bureaus. In other places, there are riots. He referred to the book, “The Coming Insurrection” by the Invisible Committee that lays out the strategy being used in Europe today. That same strategy may be tried here in America.
The Progressive movement stems from the belief in progress. But progress towards what? In contrast Glenn noted the preamble to the Constitution that begins “All men are created equal…”. There was some discussion of the underlying theory wherein all men are not created equal, so that they must be improved. This, then, is the way progressives see progress being made.
It is time for America to decide.
He noted a few key dates
- April 15th – This is the date that the federal budget should be completed. As of today, we don’t have a federal budget yet.
- November 2 – Election
- November 15th – Congress returns from visiting their home districts.
- December 31st – The end of the Bush tax cuts
- Early 2011 - The Debt Ceiling is now at $14.2 Trillion. It was $11.3 Trillion when Obama took office. The Debt Ceiling must be addressed early in 2011. If the Republicans don’t vote to raise the ceiling, federal spending will have to be cut to remain under the old figure, thus making the Republicans the bad guys and America will crumble. If they vote to raise the ceiling, they will be portrayed as hypocrites and big spenders.
- March 2011 - Federal government bonds come due.
We are being set up for failure. Why would anyone do that?
As a bit of historical perspective, in 1946 the Democrats were unpopular after being the majority for many, many years with Roosevelt and then Truman. During that election, the Republicans picked up 55 seats. After that they were branded as the “Do Nothing” congress and did not regain a majority again for 38 years.
A friend of Glenn’s travels frequently to China. There, he reports the atmosphere is vibrant. They know change is coming and they are looking forward to it. When the friend returns to the US he see us “just hanging on” and we are losing our risk takers and those who can think outside the box.
The Chinese view of America is that we have very little clout left in the world. The one thing that can possibly save us is that we have dreamers, entrepreneurs, and creators.
He noted the increase in income disparity between the rich and the poor. He said that earlier enhancements allowed many people to participate. For instance, the interstate highway system allowed many manufacturers to grow their business substantially because they were able to expand their markets via easy transportation. Today, much of the wealth is generated in the digital banking and finance industries which have little involvement outside a few financial specialists. There is not much of an opportunity for large-scale participation.