Sheldon Adelson hasn't left the Democratic party, the Democratic party left him. He explains why in the Wall Street Journal.
Seems? Almost? Come on, there's no guessing about this. Obama has come right out and promised to transform America, and it's never been his plan to turn it into anything other than a socialist paradise in which Democrats fund their political entrenchment by taxing the guilt ridden rich and re-directing earned wealth to entitlements for their favored constituencies.
At times, it seems almost as if President Obama wants to impose the failed Illinois model on the whole country. Each year of his presidency has produced unsustainable deficits, and he takes no responsibility for his spending. Worse still, unemployment has become chronic, and many Americans have given up on looking for work.
Whenever President Obama deplores the wealthy ("fat-cat bankers," "millionaires and billionaires," "at a certain point you've made enough money," and so on), it tells me that he has failed to learn the economic lessons of Illinois, and that he still doesn't understand the vital role entrepreneurs play in creating jobs in our society.
It would be one thing if Obama had any interest in economic lessons. If he had, he would certainly not be on verge of defeat in his bid for re-election. But in Obama's world the economy is a mysterious black box that cranks out wealth on demand. Pump in some stimulus and out come jobs and prosperity.
In reality Obama is only interested in exercising political patronage, and in directing federal resources and regulations in ways the help his friends and punish his enemies. Ironically, Obama embarked on all this with the purpose of consolidating Democrats' grip on power.
The result has been quite the opposite. His immediate focus on political goals at the expense of the economy created the enormous backlash that turned the Democratic House back over to Republicans, eliminated a veto-proof Democratic majority in the Senate, and in all likelihood will make him a one term president. There is only so much the black box can withstand.