SUBSTITUTING MONEY FOR WEAPONS

Everyone on the planet understands we are in the midst of a World wide recession, and more spectacular "the worst recession since the Great Depression" according to the President.
Instead of cutting welfare spending( it is presently 12.3% of GDP) and reducing the size of the government work force, Obama has determined that it would be more fair to eliminate the tax deduction for charity and the interest on your house if you and your spouse make over $250,000.
He also has promised to stop spending money for "cold war" defense projects. That sounds good, but some of the weapons that he and his minions plan to stop are the f-22 fighter jet that would replace the F-18 that is over 20 years old, and reduce the number of nuclear submarines that protect US from nuclear subs of enemies like Communist China, Russia and any other rogue country that decides to pose a threat to the USA.

Despite the economy problems, apparently the President feels that we can buy our safety through Foreign Aid, because despite his economic crisis,he plans to increase the amount of taxpayers money that will be sent to foreign countries.

The following is a quote from the Internet site of the Jerusalem Post. "The budget, according to the text put out Thursday by the Office of Budget Management, "puts the United States on a path to double foreign assistance. By increasing foreign assistance, the United States will reach out to the global community and renew its role as a leader in global development and diplomacy."

One Capitol Hill staffer who deals with these issues expressed relief that the administration wasn't "scapegoating" foreign aid as has happened in the past during times of economic trouble. Sounds to me as though Secretary Clinton is getting more money to distribute around the world to buy friends while the military gets the short end of the stick!
It appears to me that our new President and the Democrat controlled Congress is waging economic war against the American taxpayers. It started with President Bush and TARP, but has morphed into a 3 trillion dollar spending spree that will drain the monetary reserves to the point where if a foreign government decides to try to destroy our banking and economic systems, by setting up several multi- million dollar overseas hedge funds, and acting together they could dump U.S. stocks by targeting key U.S. companies, that predictably will cause panic within the stockholders.

Taking this point further, since the government has already(in 2001) pumped billions into the banking system to bolster the faltering New York banks.
And now that they have spent trillions on numerous "bail outs" with uncertain and unreported results. If the stock market continues to free fall,banks are unable to jump in and help prop up the market!
In the case of CITI bank the government now owns 40% of the stock, and the plans Obama has for National Health Insurance and his version of FDR's welfare employment program make the ability of the new owners to help doubtful,and noted Economists estimate that the present debt(Deficit)already held by the taxpaying public is 59% of GDP. The road ahead is filled with either more taxes from the middle class including taking away tax deductions or printing more worthless money that will ignite ferocious inflation and devaluation of the money we now have!

When President Obama said the other day that the "day of reckoning has come". I wonder if he meant as the Thesaurus defines reckoning as "settlement,debt due and score". That now is the time to punish those Americans who have been successful to satisfy his radical left anarchists who hate the "RIC"" and want redistribution of wealth. If so, he has made a good start in satisfying their "blood lust"!