The incumbent also expanded the core of socialism that is Too Big to Fail, Cronyism, Special privileges/Interest, bailouts, subsidies, loopholes & Entitlements supported by constant spending & borrowing spree that will not end even if the incumbent tax all the way to 99?ause when it does end, the core of socialism end. Through these the rich stay or get richer being bailed out every time they miss manage their company or brought down by the union to ruin. No one can ever be fired & the Company or Union can never be out of business or jobs. Where union officials lobbyist scheme for programs where they can teach 1 day to qualify for a million dollar pension benefit. No restructuring, no layoffs, & no competitions to sustain over indulging benefits, entitlements & services. Entitlements are like the childless woman will be willing to have a neighbor or sisters baby cut in half just so neither of them will have a baby to raise in the end. Basically if it's not your earned money & sacrifice who cares how much deeper in debt you get into. The business of self righteous, sanctimonious image is what sustains debt through over indulging entitlements, community reinvestment act, sub prime loans, over spending, debt ceiling increase, foreign aid, & nation building is to flood the world with currency created through debt. Debasing currency & inflating cost or value of goods & commodities.
When andrew jackson paid off the deficit there were no social entitlement spending.
The U.S. dollar is only a certificate of value (promissory under Gov.) that deflates in value as more are printed by government out of nothing turning every ones earnings & savings into ashes. For it to have some worth or value the money created has to be borrowed.
Sanctimonious, self righteous, & entitled attitude could care less about how much they spend & borrow as long as they get to live like kings until there are no more wealth to redistribute where rationed redistribution are all there is left, Communist Nations. Increasing spending & the deficit faster & higher above previous admins for which spending of $4T in 8 Yrs becomes $2-3T annually & so on, doesn't speak much to the commitment to pay the creditors. The deficit is speeding towards $Quadrillion & it may take $25M U.S. for $1 Australian, destroying every ones earned savings & wealth like in Zimbabwe where $25M of their currency is only worth $1 U.S. Dollars, & even worst with the Weimar Republic that eventually lead to True Socialism. Massive Debt = Massive inflation in the end.
Illinois increased tax to 66?ncome tax only to give subsidies, waivers & tax breaks to keep the big guys from leaving. Corrupt government & officials creates Over reaching regulations to create loopholes, waivers, & bailouts so they can stick their hand in the corporations pockets & keep corporates/special interest in line for their favor. Or else they be treated like Gibson Guitars, instead of going after professional thieves, racketeers, smugglers, & swindlers early on like mafias, cartels, bernie madoff (D). The sole reason why prosperity collapses. The Incumbent, Barney Frank, Chris Dodd, & the DNC receives more campaign contribution from wall street than the opposition.
GE, GM, Solyndra, AIG, Power Solar, Warren Buffet, George Soros, Richard Trumka, Andy Stern, & Fanny mae/Freddie mac (exempted from regulations) influences political policies to ensure them where to place their investments for investment in commodities, precious metals, etc. is how they make their money just as george kaiser was ensured when solyndra received its huge loans.
To let too big to fail entities go under means an more efficient equal or smaller competitors has a chance to climb up the ladder to take over the seat once held by too big to fail entities.
The socialist OWS fringe want more where everyone are heavily taxed for no one can own property & Opportunities are very limited that requires government approval as everything is Gov. controlled. Where the means of productions doesn't belong to individuals. Regardless how long or hard one work?, How much knowledge or skill one may have over another?, & Whether an engineer, athletes, entertainers or a bus boy, all will earn the same with mediocre benefits as everything are rationed. Where a farmer that manages & take care his land diligently yielding more crops & forced to share crops to the farmer that mismanages his land into ruin carelessly. Where there are no Millionaires, Franchises, Family run restaurants & businesses like in Cuba, N. Korea, & the former USSR. http://www.youtube.com/watch?v=jsPXsahSsK0http://www.youtube.com/watch?v=N4r0VUybeXYhttp://www.youtube.com/watch?v=uHxRSakuGMghttp://www.youtube.com/watch?v=zyswCDwe3uohttp://www.youtube.com/watch?v=3WnS96NVlMI&feature=grec_indexhttp://www.youtube.com/watch?v=rCu3fpg83TY