As the media obsesses about President Barack Obama on the Jay Leno show and his wife, Michelle's new White House garden, the real story has gone virtually unnoticed. Namely, the Fed’s announcement that it will be pumping another trillion dollars into the economy. That's one trillion dollars it will manufacture out of thin air.

Consider this: What would happen if you maxed out your credit cards, borrowed to pay your mortgage, spent all your savings and then went out and got a new loan, which you had no hope of repaying?

Ronald Reagan knew. He had the rare ability to recognize the obvious, being the sole voice predicting that the former Soviet Union could not possibly sustain its level of spending and would eventually collapse. It did. And all “experts” were surprised.

It doesn't take an expert to predict what will happen when individuals, businesses, or countries spend beyond their means. Joe six-pack in flyover country knows better than most politicians that there are no free lunches, that actions have consequences.

Our elected officials remain blissfully unaware of these basic tenets. Whether through economic ignorance or a political lock-step mentality, both Republicans and Democrats not only continue the massive raid on our present and future tax dollars, they continue to enact policies that make an economic recovery virtually impossible.

While the media focuses the nation's attention on the faux brou haha of the AIG bonuses, our elected officials lay plans to implement a costly cap and trade system to address the new “crisis” of global warming. The Heritage Foundation estimates this will add approximately $1,800 in energy costs to every American household.

Meanwhile, the popular “soak the rich” class warfare has resulted in a massive tax increase on those making over $250,000. Mr. Obama blithely states that “the rich shouldn't mind paying their fair share.” Notice: It is now the government that defines what is “fair” and who is “rich.”

Noticeable only by its absence, is the historical fact that raising taxes in a recession is economic suicide. Not one of our elected officials has pointed out the obvious (which is also a proven fact) that lowering taxes fuels the economy while, at the same time, replenishes government coffers. Instead, most of our elected officials have opted to continue promoting class warfare as both an explanation and a solution to the current economic mess.

Between 70 percent and 90 percent of our economy is fueled by and dependent on small businesses, who routinely file taxes as “sole proprietors.” This means all their receipts are figured into their gross income, automatically placing them in the ranks of the “rich.” These are the people who are paying for the government's largess. These entrepreneurs are the very ones who are being demonized, taxed to death and run out of business. These guys are our neighbors. And we are now all complicit in denying them the legitimate fruits of their labor. We are killing the golden goose.

One of the rare political hold outs against the prevailing tsunami, South Carolina Governor Mark Sanford was twice rejected by the White House when he humbly asked to use the “stimulus” money to pay down his state’s debt.

Like Mr. Reagan, Mr. Sanford has been predicting for years what will happen if the United States continues its present course. In virtually every public speech he makes, he includes this timeline of nations, learned from 200 years of history:

1. 1.From bondage to spiritual faith  

2. 2.From spiritual faith to great courage  

3. 3.From courage to liberty  

4. 4.From liberty to abundance  

5. 5.From abundance to complacency  

6. 6.From complacency to apathy  

7. 7.From apathy to dependence  

8. 8.From dependence back into bondage 

Mr. Sanford's voice is being ignored—as are the voices of an awaking populace, only now realizing that the new Obama Messiah does not have the ability to wave a magic wand and replace reality with a blissful utopian paradise.

Our enemies have realized this all along. And now that the America is in appeasement mode, cutting military spending and believing that the war on terror can be ignored by redefining it, it is only a matter of time before some Islamic fanatics take advantage of our weakened economic status and our new pacifism. 

Alas, they may be too late. The Obama administration, with the help of Republicans, has already inflicted more economic damage on this country than the terrorists ever did. And the media has done more to destroy America's will to fight than legions of suicide bombers ever could. Our enemies may now rejoice that America appears to have been defeated from within.