As New Jerseyans get ready to celebrate Thanksgiving the nation's economic outlook is indeed bleak, and there doesn't seem much to be thankful for after eight years of the neoconservative Bush administration and seven years of the McGreevey, Codey, and Corzine regimes.

There are, believe it or not, some things to be thankful for.  Thank goodness there are term limits for presidents and New Jersey governors.  Unfortunately, there are no term limits for both members of Congress and the New Jersey State legislature, who still insist on getting in front of cameras and in holding hearings of the committees they chair to make the most asinine pronouncements about economic policies and public finance.

(The AW--asinine watch--will commence soon.)

The economics and financial illiteracy of the political elites in DC and Trenton is stunning.  Throw in large doses of arrogance and the American people and New Jerseyans have to swallow a toxic brew of domestic collectivism (more specifically expanding socialism and a large dose of economic fascism-- Chris Matthews of MSNBC take note) and international interventionism. 

But this too shall pass.  Not right away, but the laws of economics and the principles of finance cannot be repealed by anti-market laws, onerous taxes and perpetual war.  In the final analysis, the federal government cannot overrule markets and maintain a global empire.  The incoming Obama administration will realize that, too, as it prepares a humongous "stimulation package" that will make FDR's New Deal seem niggardly and confronts "evil" overseas.

We should be thankful that in less than two months the neoconservative Bush administration will be history.  Bush and his crew of big government conservatives expanded the welfare state and has given us preemptive war, an assault on our civil liberties, torture of prisoners, skyrocketing debt, galloping nationalization of the financial services sector, a banana republic monetary policy, in short, everything real conservative are supposed to be against.  And most Republicans and the "conservative" talking heads on radio had the chutzpah to defend Bush and Company for the past several years.  Why?  Because he was a "Republican," even though he gave us a 21st century version of LBJ's domestic and foreign policies.  That's the state of the GOP in America today.  Defending the indefensible. 

And we should be thankful that John McCain will no longer be reminding us what a competent "commander-in-chief" he would be in the Oval Office.  Anyone who lusts to have his finger on the "button" should never have the power to maneuver us into more wars. 

During the presidential campaign John McCain promised the American people more wars, while Obama promised tax cuts for 95% of the American people.  They rejected McCain overwhelmingly, embracing Obama's "change" message.  Unfortunately, we soon will be treated to Obama's version of the Imperial Presidency and his overseas interventions, making the neoconservatives as happy as Sarah Palin going moose hunting.   You betcha.

We also should be thankful that Rep. Ron Paul ran for president in the Republican primary.  Dr. Paul ignited a nationwide following of Americans across the political spectrum, from all regions of the country, and from all walks of life, who want to reestablish the constitutional principles of limited government.  Ron Paul has been defending the ideals of the American Revolution in the House of Representative battling the legions of statists from both sides of the aisle.  Growing the power of government with support from both Republicans and Democrats is called bipartisanship. 

As Obama takes us further down the "road to serfdom," Ron Paul's supporters will insist he lead the Second American Revolution in which tens of millions of lovers of liberty would enlist in 2012 to save the Republic from Obama's version of the welfare-warfare state.   Fasten your seatbelts on January 20th, we are in for a hell of a ride.

On a personal note, I have much to be thankful for.  My mother has been in and out of the hospital for the past two months and my wife has been her primary caretaker.  The Lord has not made a more caring and compassionate woman, and my wish this Thanksgiving is that every New Jersey family has a Florence Michelle they can call their own.