America faces a seminal reality: We are broke, and we are getting broker by the day. This is the real “fiscal cliff” the country is about to jump off, not the artificial one consuming Washington. Instead of confronting our looming insolvency, the electorate voted to take the plunge. It ratified Mr. Obama’s drive to erect the equivalent of a Franco-German welfare state. Consider Obamacare, the massive stimulus, failed green-energy boondoggles, record numbers on food stamps, constant extensions of unemployment benefits, public housing subsidies, unprecedented government spending and free contraception.
Voters chose economic security over individual opportunity, handouts instead of self-reliance, statism over capitalism. Rather than rebuking Mr. Obama, they rewarded him.
His plan calls for piling trillions more upon the national debt. By 2016, the United States’ debt ratio will reach that of Greece and other Euro-socialist basket cases. Once international creditors realize this, and they will soon, America’s days as an economic superpower will be over. We will no longer be able to borrow to subsidize our deficit spending — or at least not without being charged much higher interest rates. America’s budget will be devoured by servicing the debt. This will squeeze funding for government programs and social services. Crushing taxes will have to be imposed.
Low growth will become permanent. The American dream will fade away. We are doing to ourselves what imperial Britain, the Axis powers and Soviet Russia were unable to do to us: destroy our unique system of limited government and personal liberty.
A key reason for Mr. Obama’s success is his cult of personality. He is deified by large segments of the liberal establishment. Hollywood practically worships him. For example, actor Jamie Foxx recently referred to the president as “our Lord and Savior.” University faculties support him. Public unions rally to him. Environmentalists praise him. The homosexual and feminist lobbies adore him. Liberals in the media champion him. In fact, under his administration there has grown an incestuous government-media complex.
Full article: 2012 marked end of American greatness (World Tribune)