After noting that Americans now have a per capita national debt liability of $343,970, Glenn Beck wondered aloud on his TV program what America’s “exit strategy” might be. “What’s going to cure this? Health care? Or is that going to make it worse?”
Beck seemed to suggest a Cloward Piven-like strategy of orchestrated crisis involving ramping up government spending to unsustainable levels is at play in the corridors of power in Washington, D.C.:
I believe our exit strategy for our leaders in Washington is to fundamentally transform the system into the redistribution of wealth. When this collapses and the reality sets in, they just take it and give it to somebody else.
The leadership in Congress wants to make government even bigger and more intrusive. Beck said Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, is planning even more regulation of the economy.
Beck said Frank’s plans are “unbelievable.” Frank “single-handedly has done more damage to this country than I think, you know, probably 25 people put together could do.”
Art Laffer, who served as economic advisor to President Reagan, agreed.
It’s amazing. It’s amazing. He is just taking over and he is doing what markets should do. And I don’t know where he gets the chutzpah to do that, Glenn, but that’s what he’s doing. And it amazes me. We have the government taking over industry after industry after industry in the last nine months, 10 months. And as you said, it won’t be recognizable by Christmas. And you’re right. It is really amazing.
Beck said if we continue to spend like drunken sailors the U.S. government will lose its triple-A credit rating. “Six months ago, they said we would lose it within 10 years if we don’t change our ways. They just came out last week and said we would lose it in three to five years,” said Beck.
We will have to default on these bonds. We will lose our position in the world. But there is a much better exit strategy — if the politics returned to something like Ronald Reagan.