“President Obama wants to use the tax system to ‘spread the wealth’ and apply the regulatory powers of the government to more forcefully manage and direct the economic affairs of the citizenry – all for a particular interpretation of the ‘common good,’ of course.”
– Richard Ebeling, “Barack Obama and the Meaning of Socialism, December 23, 2013.
Barack Obama will give his 5th State of the Union Address tonight amid the crisis of interventionism (what Ludwig von Mises called the exhaustion of the reserve fund). Expect proposals for new federal programs and private-sector strong-arming. And expect another Malthusian call to action on ‘saving the planet.’
The federal debt is soaring. The economy remains mired in the Great Recession according to important indicators. ObamaCare is in deep trouble with more negative shocks ahead.…