We on the conservative side have to be carefull not to pass the blame ourselves. Remember the doom and gloom approach to the eceonimic situation that came out of the last administration and the then presiding congress. Remember the fear mongering approach to justify a war. I could go on but the important thing is to take responsibility even if our political leaders don’t. We can make a difference if we stay active and vocal.

Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Friday, 27 Feb 2009 | 4:39 PM ET

Posted By: Larry Kudlow
Anchor

President Barack Obama
AP
President Barack Obama
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.

He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.

That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.

Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.

This is nearly double the government-spending low-point reached during the late 1990s by the Gingrich Congress and the Clinton administration. While not quite as high as spending levels in Western Europe, we regrettably will be gaining on this statist-planning approach.

Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.

And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.

The tax hikes will generate lower growth and fewer revenues. Yes, the economy will recover. But Obama’s rosy scenario of 4 percent recovery growth in the out years of his budget is not likely to occur. The combination of easy money from the Fed and below-potential economic growth is a prescription for stagflation. That’s one of the messages of the falling stock market.

Essentially, the Obama economic policies represent a major Democratic party relapse into Great Society social spending and taxing. It is a return to the LBJ/Nixon era, and a move away from the Reagan/Clinton period. House Republicans, fortunately, are 90 days sober, as they are putting up a valiant fight to stop the big-government onslaught and move the GOP back to first principles.

Noteworthy up here on Wall Street, a great many Obama supporters — especially hedge-fund types who voted for “change” — are becoming disillusioned with the performances of Obama and Treasury man Geithner.

There is a growing sense of buyer’s remorse.

Well then, do conservatives dare say: We told you so?

A lot of people today are talking about this flag and the possibility of a new revolution to restore the constitution, in fact Glenn Beck has it on his website but the snake has 11 rings to signify 11 principles the founders held, and the need to get back to them. Interestingly he is saying a revolution would be a horrible idea and could turn out like the French Revolution.

Just thought you all might be interested in the history of that flag if you didn’t know it already, and hopefully I got it all right and did it justice.