Eve Of (Financial) Destruction - The New Lyrics

A few weeks ago we had some fun comparing the extremely reckless deficit spending of the Obama administration to the 1960s Vietnam protest song from Barry McGuire "Eve Of Destruction." Our intent was to show that Obama was about to do what the Kaiser, Hitler Mussolini and Bin Laden had been able to do: topple the United States government, not through violence, but through reckless economic policies.

As a quick review, recall the following facts:

• In its first year, the Obama administration overspent its revenue stream by $1.4 TRILLION, more than 60% more than it collected in taxes and other fees. The shortfall had to be financed by selling debt instruments to individuals and foreign national governments.
• In the current year, it will overspent its revenue stream by about $1.5 TRILLION or 70% more than it took in.
• The Obama administration is proposing that the national debt be increased by $8.5 TRILLION over the next decade. This increase would theoretically impose a deficit liability of over $65,000 on every American family. Additional taxes beyond the $65,000 would have to be paid by each family just to cover non-deficit government expenses.
• Obama recently increased the United States government debt limit to over $14 TRILLION. Since the 400 wealthiest Americans are worth about $2.4 TRILLION, as estimated by Forbes magazine last summer, if the government confiscated the total wealth (not their income, their wealth) of these four hundred Americans, the rest of us would still have to pay over $11.6 TRILLION to pay off the nation's debt. On a per household basis, this debt obligation comes to about $90,000 per household. Of course, the government would never confiscate the total wealth of its richest citizens, at least I do not think they would, so the $90,000 obligation per household is a conservative estimate, it is likely much higher.

Very depressing information. Even more depressing is the fact that we are not even getting our money's worth for the high taxes and high deficit spending. Public schools are failing, the War on Drugs has been lost, Social Security and Medicare are heading for insolvency, there is no national energy strategy, highway infrastructures are falling apart, etc. Plus, our freedoms continue to erode as the deficits pile up, with more and more of the freedom and wealth sent to Washington and outside forces, e.g. the Chinese, exerting more and more influence, further restricting our freedom as individuals and as a nation.

Below are the reworked lyrics to Barry McGuire's "Eve Of Destruction" (the original lyrics are listed further below), updated to represent the horrible financial jam the Washington political class has gotten us into. At least we can have a sense of humor about where we are economically and realize that Mr. McGuire was correct back int he 1960s, he just got the cause wrong:

The financial world it is imploding
Debt is rising, banks are folding
The deficit spending, it is out of control
Americans are ticked, just ask any poll
Even the Potomac River has red ink flowing.

Let me tell you over and over and over again, my friend
Financially, we’re on the eve of destruction.

Billions and billions are wasted each day
Our debt is many trillions, what can I say
If the spending keeps going, we’re all going to pay
Even your grandkids will owe when you’re in your grave
Look at our deficit, boy it’s bound to scare your, boy.

Let me tell you over and over and over again, my friend
Financially, we’re on the eve of destruction.

My wallet’s so thin, it gets so frustrating
GM and Chrysler, you all know the truth, economy’s stagnating
Bickering Senators don’t pass legislation
No politicians are cause for celebration
Their voices and shrill are all so nerve grating
Citi Bank, pork, earmarks are all so degrading.

Let me tell you over and over and over again, my friend
Financially, we’re on the eve of destruction.

Think of all our debt that is now owned by China
They could buy, sell and trade all of California
Obama and Bush, both so much to blame
They seem to think this all just a game
Rich versus poor, it’s all starting to foment
All pols are all to blame for this predicament
I still love my country but loathe its government.

Let me tell you over and over and over again, my friend
Financially, we’re on the eve of destruction.

The Original Lyrics:

The eastern world it is exploding’
Violence flarin‘, bullets loadin’
You’re old enough to kill but not for voting’
You don’t believe in war, what’s that gun you’re totin‘?
And even the Jordan River has bodies floatin’.
.
But you tell me over and over and over again my friend
Ah, you don’t believe we’re on the eve of destruction.

Don’t you understand, what I’m trying to say?
Can’t you see the fear that I’m feeling today?
If the button is pushed, there’s no running away
There’ll be no one to save you with the world in a grave
Take a look around you, boy, it’s bound to scare you, boy.

But you tell me over and over and over again my friend
Ah, you don’t believe we’re on the eve of destruction.

Yeah, my blood’s so mad, feels like coagulation
I’m sitting here, just contemplatin’I can’t twist the truth, it know no regulation
Handful of Senators don’t pass legislation
And marches alone don’t bring integration
When human respect is disintegratin’
This whole crazy world is just too frustratin’.

And you tell me over and over and over again my friend
Ah, you don’t believe we’re on the eve of destruction.

Thing of all the hate there is in Red China
Then take a look around at Selma, Alabama
Ah, you may leave here for four days in space
But when you return it’s the same old place
The poundin’ of the drums, the pride and disgrace
You can bury your dead, but don’t leave a trace
Hate your next door neighbor but don’t forget to say grace.

And let me tell you over and over and over again my friend
Ah, you don’t believe you’re on the eve of destruction.


Our New book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at www.loathemygovernment.com. It is also available online at Amazon and Barnes and Noble.