The Obama Damages

Check out Charles Krauthammer's analysis of Obama's recent speech in The Washington Post. I think his analysis is largely accurate.

Why the US would wish to follow largely unsuccessful European policies that depend on both American capitol and markets is something of a mystery to me. I think it's mainly due to ignorance and wishful thinking-- hallmarks of the Obama administration so far.

The fact is that America cannot survive this way. There is no one else to provide a vast market for American goods (as America has for European goods) to support the domestic economy, nor is there anyone to shoulder military defense enabling the US to drastically cut defense spending (as most of Europe has done for decades). History has shown that socialistic governments cannot remain viable without either outside support or aggressive expansion. These policies simply will not work left on their own, though they can hobble along for decades, and will eventually have to be largely reversed. How much of our own personal prosperity or independence that can be regained is unknown.

The question simply seems to be how much damage can Obama do in the meantime if we allow him to. And the answer is plenty.