Finding the Truth Obscured by all the Political Rhetoric

by Richard H. Frank

The political silly season is in high gear as we approach the 2012 general elections.  The attempt to affix blame for our current economic woes upon the opposing political party takes precedent over finding clear solutions to problems (legislated policies) that have accumulated for more than 70 years.  To make matters worse, we have an inexperienced President, Barack Obama, who has not the slightest clue as to how to solve the problems that have resulted in our nation accumulating over $14 trillion in debt, let alone some $60 trillion in unfunded entitlements.  Thus, he has returned to demonizing Wall Street, banks and the rich among us.

His latest stimulus “The American Jobs Act,” has failed due to non-support from Democrats within his own political party.  These defections from the flock of Obama followers recognize that more of the wrong medicine will not cure what ails this nation.  Yet our President has taken once again to the route of castigating Congress, specifically Republicans, for failing to understand  his proposed legislation and therefore will break the bill into smaller pieces in order to get it passed.

Unfortunately, the Republican candidates seem to lack a clear vision for solving our current situation.  They realize that jobs must be created in order to increase the flow of revenue to the Federal Treasury.  They acknowledge that only the private sector can create jobs that do not take from the Treasury as does those associated with more Government and regulation.  They also attest to the fact that Government must get out of the way of free market forces if we are to return to economic growth.  Additionally, they all agree that spending must be cut if we are to achieve fiscal stability and retire our national debt.  What to do is not the question, but how to do it is. Detailed plans from specific candidates are forthcoming and must address the 3 elements outlined below.

The current demonstrations against Wall Street and the rich are a reflection of the frustrations being felt across the nation.  However, these frustrations are misdirected and the demonstrations should be directed against Washington, D.C. legislators.  Left to their own devices the demonstrators have opened themselves to infiltration by Marxist, Communist influences that run contrary to the very founding principles of this nation.

The real solution to our economic problems touch every segment of American society and will be painful and must encompass each of the following elements.

  1. Reduce Government interference with the free market enterprise system.
  2. Stop deficit spending by our Federal Government through a balanced budget amendment.
  3. Abolish the existing tax code and replace it with a simple broad-based fair system unable to be manipulated by politicians in response to pressure from special interest groups.

Unfortunately, the current Administration believes that only Government can control and regulate the national economy and welfare.  The three solutions described above run contrary to their very belief and ideology and thus will never see the light of day under an Obama Presidency.  Additionally, with the current entitlement mentality persistent with approximately 50% of Americans, it is uncertain that they will be willing to give up anything to participate in salvaging this nation from financial ruin.

Left to the current  Administration, the burden will fall upon the middle class and elderly to sacrifice our standard of living to slow the steady march to the demise of the greatest Republic in the history of the World.

2 Responses

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