History never repeats itself exactly. But Barack Obama is making the same mistakes today that LBJ made in 1965.
He has ordered 17,000 more U.S. troops into Afghanistan, as the situation deteriorates and the NATO allies pull out. He has no exit strategy. He has read a repudiation of George Bush as a mandate for a government seizure of wealth and power that exceeds anything attempted in the Great Society.
Fully half of the $3.55 trillion in spending Obama will preside over this year will not be covered by tax revenue but by red ink. The money will have to be borrowed from abroad or printed by the Fed.
Not only is Barack running a deficit four times as large as Bush's largest, he has called for $1 trillion in new taxes on America's most successful, who have already seen their savings and pensions ravaged.
The Democrats, led by Obama, are leading the nation towards bankruptcy. The Republicans are delighted because they see a chance to return to power. Only trouble is that there may not be much left to govern by the next election and the Republicans have lost the trust of the people after their recent stumbles. Both parties have been corrupted by their lust for dominion over the American people and foreign lands.
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