The Best Summary...

The best summary of the cause of our political and economic ills comes from the great economist and social critic, Dr. Thomas Sowell:

The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

When an individual or a government lives within its means it must prioritize and make painful choices on the wisest use of limited resources. But when politicians utilize deficit spending they can satisfy "progressives" through expansive government programs and equally satisfy so called conservatives by maintaining artificially low (relative to expenditures) tax rates. This is a dangerously easy choice for politicians, because the political benefits are gained in their life time, but the full brunt of the costs will be incurred by the next generation.

I would not be opposed to Obama's pursuit of socialist health care and other lavish subsidies, IF it was in the context of a balanced budget. Even though I am not a socialist, I would have tremendous respect for Obama IF he said:

I can give you national health care, BUT we will have to dramatically cut other programs and raise your taxes. To increase government expenditures in the face of our already massive national debt will unduly burden the next generation of Americans.

I don't fully blame Obama for this, because if he spoke more like an honest economist and less like a slick politician, it's doubtful that he would have gotten elected.