“Currently, the average Canadian household is more than $40,000 richer than the average American household.”

The paper adds: “And these are not 60-cent dollars, but Canadian dollars more or less at par with the U.S. greenback. Furthermore, these figures ignore public-sector (government) debt that presumably people on both sides of the border or their children will some day have to pay. Such debt is higher in the U.S. as a percentage of GDP than it is in Canada.”

How did we get there?

A Republican-and-Democrat engineered recession, followed by:

“At a certain point you’ve made enough money.”

“The private sector is doing fine.”

“If you’ve got a business, you didn’t build that. Somebody else made that happen.”

In this new video, Wayne dissects Obama’s fraudulent claims about spending and taxes, tells the truth about government spending, and tells you why only the libertarian solution can stop the damage out-of-control spending is doing to our economy, our nation and your freedoms.

Watch it here.

But does Obama’s rhetoric of spending cuts match the reality of his proposed budget?

Come on.  We’re talking about Barack Obama.

Cato @ Liberty’s Tad DeHaven points out just some of Obama’s touted “cuts” that don’t actually reduce spending or government power :

• The administration proposes to eliminate the Environmental Protection Agency’s Clean Automotive Technology program for savings of $16 million. However, the proposed cut doesn’t reflect a sudden desire to end federal “green” subsidies to car manufacturers. Instead, the administration says “other Federal programs are better positioned to research, develop, demonstrate, and deploy a broad suite of advanced vehicle technologies.”

• The administration proposes to cut funding for the Department of Health and Human Service’s Community Services Block Grant program from $679 million to $350 million. The administration cites reports from the HHS inspector general and the Government Accountability Office that “have documented failures in program oversight and accountability.” However, instead of proposing to completely terminate it, the administration says it’s going to fix the program and basically apologizes for having to cut it to meet discretionary spending caps.

• The administration proposes to cut funding by $226 million for fossil fuel subsidies administered by the Department of Energy. These subsidies should be eliminated. But they should be eliminated along with all energy subsidies because the federal government should stop trying to pick winners and losers in the energy market. Unfortunately, it appears that the administration is really only interested in scoring political points with the “green” crowd.

• The administration proposes to save a whopping $3 million by terminating the U.S. Department of Agriculture’s public broadcasting grant program. The administration correctly points out that the program is duplicative of the Corporation for Public Broadcasting. However, the CPB would get another $1 million in funding for an overall budget of $445 million. In other words, the proposed cut would have practically no effect on the federal government’s subsidization of PBS and NPR.