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By James Zumwalt

Editor’s Note: A month ago today, President Obama delivered his State of the Union Address. And, anyone listening heard him paint a rosy picture of a strong country supported by a strong economy.

Not everyone agrees with that assessment.

Today, we offer another view from LTC James Zumwalt, a Marine infantry officer who fought in action in Vietnam, Panama and Desert Storm. Unlike NBC’s Brian Williams, LTC Zumwalt has seen his share of incoming enemy fire.

Today, he focuses his attention squarely on President Obama’s philosophy and interpretation of the current state of the union. And, he suggests a continuance down the current path will only lead to the eventual bankruptcy of the United States.

Whether or not you agree with the points he raises, prudent investors should take heed and prepare for the predicted outcome…by owning real things such as gold, silver rare stamps and rare coins. You can always reach us to help with these needs by calling 877-340-0790.

If you would like to hear more from LTC Zumwalt, he is a regular contributor to the Washington Times. You can also read his full rebuttal of President Obama’s SOTU here.

President Obama’s January 20, 2015 State of the Union (SOTU) address sought to paint a picture of national, as well as world, stability. The reality, however, is both are far less stable than what he described.

Far more memorable for listeners to Obama’s speech is not what he said, but what he failed to say. What President Bush 41 learned at the cost of a second term, Obama has not: “It is the economy, stupid!”

Obama’s rosy picture of a domestic economy "turn(ing) the page" on a "vicious recession" is disputed by a recent poll suggesting 64% of respondents think otherwise.

Setting aside the global instability created by Islamic extremist groups, it is difficult to ignore the harsh impact the wars we are fighting against them, combined with the unlimited entitlement programs Obama has promoted while in office, have on our national debt.

Obama acts like an irresponsible child given a credit card by parents who ultimately will have to foot the bill.

In fact, about a month and a half before Obama gave his SOTU address, the federal debt officially hit a milestone—increasing by almost 70% under his leadership as it reached a tally of $18 trillion.

Our national debt continues to grow at a phenomenal rate that will eventually have a catastrophic economic “big bang” impact.

Despite this, Obama touted more entitlements in his speech.

Perhaps hoping to pave the way for his party's recovery in 2016 from the disastrous 2014 mid-term elections, Obama outlined fifteen different proposals for entitlement programs that can only be funded by increasing taxes.

Despite the threat of Islamic terrorism, despite the threat of an impending economic big bang, Obama suggested the greatest threat to future generations of Americans is climate change.

Aware of all this, Obama must be given credit for being able to maintain a straight face while telling us "the State of the Union is strong."

Listening to the SOTU speech, students of history (there were not many listening as Obama was watched by the fewest number of viewers in fifteen years) might recall the words of an historian—who died long before Obama was even born.

This historian forewarned of democracy's death knell. While the author of the warning is debated, the source commonly credited is the 18th century Scottish historian Steven Tytler. He observed:

"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship."

Tytler believed democracies could not long endure beyond the two-century mark for this exact reason. While we have exceeded his prediction by more than a third of a century, America’s heyday of economic might is waning—driven by the public’s demand for entitlements and politicians acting like irresponsible parents refusing to stop their child’s spending.

The SOTU address is also an opportunity for presidents to honor a hero who is invited to sit with the First Lady. That seat did not go to anyone earning the spot on merit but instead to a beneficiary of Obama's executive action largesse—specifically tuition-free programs paid for by parents financially challenged to send their own children to college.

But of note was that this particular student-beneficiary in the gallery was one benefitting as well from Obama’s lax border security concerns as she was an illegal immigrant.

Obama has used entitlement programs to promote a victim mentality among voters without considering the long-term impact. While promoting such programs sounds good in a SOTU speech, they will continue to drain the public treasury, financially enslaving future generations.

It will be our children and grandchildren who, long after Obama's reign has ended, will finally understand the words of the late British Prime Minister Margret Thatcher, "Socialism is great-until you run out of other people's money."

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