Summing up the disastrous effects of Obamanomics

Peter Wehner:

"Enormous economic and political consequences are likely to flow from Obama's actions.

On the economic front, it's quite likely that the combination of massive deficits, higher marginal tax rates, and a much larger role by the public sector in the economy (especially in health care and energy, if Obama gets his way) will be injurious: penalizing and discouraging the investor class and the creation of small businesses; hampering innovation; increasing dependency on the state; and piling up an unprecedented debt burden.

The government will need to print vast sums of money in order to finance our debt, generating a huge increase in the money supply, making high inflation and interest rates a real possibility. President Obama is pursuing policies that have historically led to distortions and disruptions in the economy, the subsidization of programs and industries that are inefficient, and severing the link between reward and effort."

Other than that, things couldn't be better, right?

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