If Barack Obama is elected president, hold on to your hat and, especially, your wallet.
If you thought government spending is out of control now, with the bailouts on top of the "normal" budget excesses, then this from Rep. Barney Frank should give us all fair warning on what may be on the horizon:
I think at this point, there needs to be a focus on an immediate increase in spending and I think this is a time when deficit fear has to take a second seat. I do think this is a time for a kind of very important dose of Keynesianism. I believe later on there should be tax increases. Speaking personally, I think there are a lot of very rich people out there whom we can tax at a point down the road and recover some of this money.
He wants to increase spending.
He wants to ignore the deficit.
He wants to tax the hell out of "rich" people.
With the possibility of an unchecked Congress (with Pelosi and Reid at the helm) and the most left wing president in the White House, this is not a pretty picture.
Unfortunately, nobody seems to be paying attention. But they'll pay later. See you in the soup lines.
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