The president's economic proposal to Congress, and by extension to the American people, includes the following outrageous demands: A tax increase of $1.6 trillion over a 10-year period, more stimulus spending, additional unspecified cuts to Medicare, and total control of increases to the national debt.
These demands will precipitate a complete financial failure for the entire country. Such steps, if enacted, will transform the title of the chief executive from president to king.
President Obama actively seeks to blame the Republican party for the country's financial problems and accuses them of engendering higher taxes rates on everyone as of January 2, 2013, if they do not accede to his demands. While the blame game between President Obama and the Congress may not find a resolution, the market forces of capitalism surely will. Small businesses will fail, and medium-size businesses will cut back hours, reducing full-time employees to part-time status. Investment will stagnate and revenues will decrease. The mythical 1 percent of "rich" folk will include everyone who works and the truly wealthy will emigrate in order to reestablish their businesses with workers from abroad.
In a recent political advertisement President Obama accused the Republicans of orchestrating a "Scrooge Christmas" because they refuse to agree to his demands. We need to remember that in A Christmas Carol by Charles Dickens, Ebenezer found redemption and happiness.