On Tues., Nov. 4, 2008, a historic day in many respects, Barack Obama was elected the forty-fourth President of the United States of America. Obama won over a nation yearning for a change—change in identity, in leadership, and in policy—with his youth and charisma. And so the first African-American President in our nation’s history was elected. Some cried tears of joy, some celebrated, others feared what was to come.

That was then—when half the country was filled with doubt while the other half brimmed with optimism. Since that day, we have learned much about the junior senator from Illinois. Of his first 206 days in office, Obama appeared on television on all but eight of them. Through his many televised speeches and addresses, the American people have found ample opportunity to familiarize themselves with his policies and intentions.

Yet many questions remain and new ones have surfaced. Why was a record-breaking 787 billion dollar stimulus package passed in spite of our record deficit? Furthermore, why has only 10 percent of that money been spent to date? The stimulus money, if necessary in the first place, should have been spent immediately—during the recession, not after it. By the time much of this money is used, our economy will have been on the road to recovery for some time.

Packed with ambiguous clauses such as a six billion dollar provision for “higher education modernization,” the putative “stimulus” package has proven to be no more than an exorbitant spending bill. That was the last thing this country needed, and the results are clear: The stimulus package has failed to stimulate anything. Four hundred thousand more Americans lost their jobs in August, small businesses struggle to obtain loans, and the value of the dollar has fallen to record lows.

It appears the only facet of our economy that has successfully been “stimulated” by this bill is our deficit. Soon taxes will likely—out of necessity—be raised for middle-class Americans in spite of Obama’s campaign promises to leave tax rates for 95 percent of citizens unchanged.

According to projections by the Congressional Budget Office (CBO), President Obama’s budget will create an additional 9.3 trillion dollars in deficits over the next 10 years, four times that of Bush’s presidency! And that is only the beginning.

The debate over healthcare reform—or rather, insurance reform—is in full swing. Most remain unconvinced by Obama’s nebulous proposal to fundamentally overhaul the American healthcare system. And considering that 64 percent of Americans say they are happy with their health insurance, it is unsurprising that Obama is meeting hard-nosed grassroots opposition. His “plan,” which he promises will neither further indebt our nation nor burden middle class tax-payers, is a series of idealistic promises that thus far have no discernible active policies to render them feasible.

Democrats such as Speaker Nancy Pelosi (CA) and Representative Steny Hoyer (MD) will do their best to discredit those who speak out against their policies by calling them “un-American.” But that doesn’t change the fact that two thirds of citizens oppose the passage of the current reform bill, and the number is climbing.

Our healthcare system is not perfect; no system ever will be. But doing nothing would certainly be superior to passing the current bill. As it stands today, Americans receive the highest quality healthcare in the world, and no one is denied services. The shocking price tag projected for Obama’s proposals, on top of our current national debt, will undoubtedly lead to rationing of care.

Some healthcare issues do need to be addressed. The first is tort reform, a major issue that was not even mentioned in the 1,018 pages of the esoteric bill (which reads much like a Faulkner novel). Doctors and insurance companies agree that this is the necessary first step to reduce healthcare costs in this country, rather than the creation of a public (read: quasi-socialist) option. Should a public healthcare option be introduced, private insurance companies will likely find themselves unable to compete. All it takes is a bit of common sense: With the economy in its current state, insurance companies, like the rest of the private sector, will be forced to tighten their budgets. Meanwhile, the government option will be subsidized with endless funds. And where do those funds come from? Tax-paying Americans. Remember the old adage, “There’s no such thing as a free lunch?”

In the latest report on health care, the CBO estimates the House bill under consideration will cost a staggering one trillion dollars over the next 10 years. This figure will significantly add to the already outrageous deficits that Obama has amassed in his spending bill. Who knows what utopian idea Obama will try next and what its price tag will be?

What is certain is that our current path is not sustainable. We must take back the reins from this reckless administration if we are to preserve our great nation for posterity. Can we afford to endure such fiscal irresponsibility for another 3.5 years? For all of the glamour surrounding our new president, all I see is a deluge of red ink.

by Patrick Witt, JE’12