No additional comment needed.

Former Clinton Treasury man Roger Altman had a troubling piece the other day in The Wall Street Journal, saying that quite soon we’ll be facing a big tax increase.

The budget deficit and the national debt is increasing so rapidly, he wrote, that perhaps as early as next year Main Street and the financial markets will “exert irrestible pressure to reduce the deficit.”

His prediction had a chilling plausibility — even moreso if you consider the extra debt that would be loaded on with another stimulus package full of wasteful pork like the last one. Even more troubling was Altman’s preferred levy: A European-style value-added tax.

That would be the perfect capstone to accompany President Obama’s mad drive to replicate the massive tax-and-regulatory structures that have made the European economy so sluggish for the last few decades. An apt word was coined to describe the overall problem: eurosclerosis. Europe built a welfare state it cannot financially support, and its costs and rules suffocate economic dynamism.

Remember, folks (and I’m going to periodically remind you of this fact):

This is OBAMA’S DEFICIT.

Here’s the picture.  Teach it to your children.  Write it on your doorposts.

Drafted by Thomas Jefferson between June 11 and June 28, 1776, the Declaration of Independence is at once the nation’s most cherished symbol of liberty and Jefferson’s most enduring monument. Here, in exalted and unforgettable phrases, Jefferson expressed the convictions in the minds and hearts of the American people. The political philosophy of the Declaration was not new; its ideals of individual liberty had already been expressed by John Locke and the Continental philosophers. What Jefferson did was to summarize this philosophy in “self-evident truths” and set forth a list of grievances against the King in order to justify before the world the breaking of ties between the colonies and the mother country.

A transcription of the complete text of the Declaration after the break.

IN CONGRESS, JULY 4, 1776

The unanimous Declaration of the thirteen United States of America:

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

— That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed,

— That whenever any Form of Government becomes destructive of these ends, it is the Right of….

…the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed.

But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

— Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States.

To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.

He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.

He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

He has affected to render the Military independent of and superior to the Civil Power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

For quartering large bodies of armed troops among us:

For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

For cutting off our Trade with all parts of the world:

For imposing Taxes on us without our Consent:

For depriving us in many cases, of the benefit of Trial by Jury:

For transporting us beyond Seas to be tried for pretended offences:

For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies

For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:

For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated Government here, by declaring us out of his Protection and waging War against us.

He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.

He is at this time transporting large Armies of foreign Mercenaries to…

… compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence.

They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare,

That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do.

— And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.

— John Hancock

New Hampshire:
Josiah Bartlett, William Whipple, Matthew Thornton

Massachusetts:
John Hancock, Samuel Adams, John Adams, Robert Treat Paine, Elbridge Gerry

Rhode Island:
Stephen Hopkins, William Ellery

Connecticut:
Roger Sherman, Samuel Huntington, William Williams, Oliver Wolcott

New York:
William Floyd, Philip Livingston, Francis Lewis, Lewis Morris

New Jersey:
Richard Stockton, John Witherspoon, Francis Hopkinson, John Hart, Abraham Clark

Pennsylvania:
Robert Morris, Benjamin Rush, Benjamin Franklin, John Morton, George Clymer, James Smith, George Taylor, James Wilson, George Ross

Delaware:
Caesar Rodney, George Read, Thomas McKean

Maryland:
Samuel Chase, William Paca, Thomas Stone, Charles Carroll of Carrollton

Virginia:
George Wythe, Richard Henry Lee, Thomas Jefferson, Benjamin Harrison, Thomas Nelson, Jr., Francis Lightfoot Lee, Carter Braxton

North Carolina:
William Hooper, Joseph Hewes, John Penn

South Carolina:
Edward Rutledge, Thomas Heyward, Jr., Thomas Lynch, Jr., Arthur Middleton

Georgia:
Button Gwinnett, Lyman Hall, George Walton

But it was two days later that those gathered in defiance to the King declared a “Declaration of Independency” thereby adopting the famed document that carefully delineated the natural rights by which they claimed independence followed by a list of grievances that would explain why they invoked those rights.

So what are we celebrating? Is it our birth as a nation or are we celebrating the document of Independence? Early celebrations were mixed and a bit confused on that point. Additionally, celebrations on July fourth weren’t that common for a time after the Revolution was over. At first, not many felt a need to celebrate something that had happened and was over. It was time to move on from war in many American’s eyes.

Then again, not many Americans had much interest in the Declaration itself until the 1790s when the emerging parties began to vie for bragging rights over who wrote it. The Democratic Republicans proudly held that their leader, Thomas Jefferson, was the author of the document while the Federalists reminded everyone that their leader, John Adams, was also a member of the committee that drafted the document and that he, as much as Jefferson, had his stamp on the Declaration of Independence.

As the fame of the document and interest in it grew in the new United States of America, so too did a focus on celebrating the nation’s separation from England. By the time the fiftieth anniversary of the signing of the Declaration neared in 1826, Independence Day had become a common day for celebration. And, despite a brief period in the South during and after the Civil War, the holiday atmosphere has grown and remained strong to this day.

The answer to the question above, then, is that we celebrate both the famed document and its purpose for having been drafted. We celebrate our birthday as a nation as well as those stated principles that announced to the world what we were, what this new nation was meant to represent. And so, it is properly Independence Day that we celebrate — a celebration of both the document and its famous ideas as well as our separation from England and the birth of our nation.

But one thing is sure, it is not “July Fourth” we celebrate. The fourth day of the seventh month is an inconsequential number. We are not celebrating a fourth day of anything and the bland, uninformative title of “July Fourth” should be banished from our minds as meaningless.

Why forget that title? Aside from the fact that we aren’t celebrating the numerology of the day, calling it “July Fourth” does nothing toward informing the world and our fellows of what it is we are celebrating. Do we celebrate December 25th, or do we Celebrate Christmas? Worse than a lack of identification, calling this sacred holiday merely “July Fourth” also dims from our minds the great purpose of what the holiday stands for.

Yes, Independence Day is more than a number and more than just a birthday party. It is the heralding of a new set of principles by which all men everywhere can declare their own freedom. It is the assertion that all men are created equal and have been given that status by God. Further, that because these rights are bestowed upon us by God, men have the right to insist that their government serve them, not that men be yoked to serve government.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

These were revolutionary concepts upon which to build a nation and it announced to the world that our revolution was a common cause for all mankind, not just we Americans. That day we declared that men have the right to cast off the oppressive yoke of government and live free.

Without doubt, these are heady concepts. And these are the high principles that we celebrate on Independence Day each year, that holiday that just happens to fall on the fourth day of July.

So, let’s cast off this bland appellation of “July Fourth” for a holiday of such important ideas. Let us proudly call it “Independence Day” so that we can keep in the forefront of our minds those great ideas we hold up as something worth celebrating.

It isn’t “July Fourth,” so let’s stop celebrating that holiday. It is Independence Day and nothing less.