I think with the amount of deficit spending that we have done that come January 1, 2011, this country falls off a cliff financially. The tax increases that will be implemented, the ramping up of an Environmental Protection Agency that has been tripled in size. We have already seen abusive behavior on their part in terms of them trying to legislate through their authority as an agency, redefining what a hazardous gas is, superseding all of their normal procedures they use in terms of scientific process to decide that carbon dioxide is a hazardous gas. All those things, I am very concerned with where that takes us in 2011. I think deficit spending, things never work out well when you do that type of borrowing, that type of debt, especially when we are indebted principally to other countries with much of that debt.
Editor's note · Context
The speaker addresses concerns about deficit spending and its potential consequences for the economy in 2011.
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