12/07/2012

Waiting for the Gods

Via-American Spectator




By F. H. Buckley

What we will see in the next four years is the monarchical government of a president determined to rule without Congress.

WELL, THAT WAS A BUMMER. Still, there’s good news and bad news. The bad news is it’s going to get a lot worse before it gets better.The good news is it’s going to get a lot worse.

The bill for Obama’s first term has yet to come due. The administration poured $5 trillion down a rat hole for trendy projects run by political allies without providing any discernible lift to the economy. Instead, it’s increased our debt load and placed us in the unpleasant company of Portugal and Greece.

Remember when Obama said that he thought the United States was exceptional in the same way Greece is exceptional? Turns out he meant it.

The administration added more people to the food stamp rolls than it added to the job rolls, and that’s not about to change. The food stamps have cushioned the absence of jobs, but at some point this won’t seem like an adequate substitute for the recent college graduate, back in his old bedroom at his parents’ house.

We haven’t been asked to pay the bill for Obamacare yet. Oh, we’ve heard of firms that didn’t get started because they didn’t want to deal with it, but that’s nothing compared to what’s around the corner, as companies and employees react to the new measure. We also haven’t seen the rationing of medical care from the IPAB panel that has been given the task of cutting costs, and which bids to make of Sarah Palin a prescient seer.

In short, Obama’s economic policies have been a huge disappointment in his first term and can be expected to be a disaster in his second term. His response is to stay the course, to go on spending, to expand the public sector, to toss more money to his allies on the grift (oops—to well-deserving recipients of social justice). His problem, however, is that this is not sustainable. Margaret Thatcher understood this. She said that the trouble with socialism is that eventually one runs out of other people’s money to spend.

What conservatives must do, then, is wait. Obama’s time will be the years the locusts have eaten. It has been and will be a time of frivolous pursuits and shameless pandering, nastiness and demagoguery, with a president who would make of Sandra Fluke’s bedroom habits a matter of national concern, and who encourages “revenge” against “enemies.” The fall will come and conservatives must be ready for it.

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