The Republicans, who took the house, several senate seats, and many governorships are now pushing the agenda favored by millions of Americans, hopeful that jobs will come back, while inlfation remains in check.
The Obama Administration, however is still threatening to make a real mess of things after bringing us what can be considered “failed” Obamacare, a “failed” stimulous package, and is now dead set on repurchasing up to $600 Billion (yes, Billion) in treasuries that will surely create out of control inflation.
Wall Street took a tumble over the past few days, and it seems general knowledge to everyone outside of Capitol Hill that this will cause inflationary pressures, and possibly a re-visiting of the “stagflation” of the 1970’s era, where high unemployment and astronomical inlfation crippled the economy.
The recipe for disaster couldn’s be worse, in fact. the fiscal actions in the 70’s should have been a powerful lesson for all, yet remains unheeded. Couple that with what many have called “The Great Recession”, and I simply think it will put the economy into an irrevocable downward spiral.
The Rebublicans seem to have a straightforward strategy to get back on course.
1) Permanently extend the Bush era tax cuts to create stability and certainty;
2) Cut uruly government waste and spending, and “shrink” the beast of government;
3) Cut earmarks and pork-barrel spending initiatives, and the political pandering that goes along with it.
The strategy worked in the Reagan years, and was followed by many years of prosperity. The world is somewhat more complicated in this age of globalization, with China’s actions in unfairly suppressing their currency to maintain a balance of trade that is only favorable to them. China’s recent announcement of protectionist actions in halting exports of rare-earth minerals, the notice yesterday that clothing prices (exports from China) are expected to increase by 30%, and the weak-currency initiatives are making them quite the unruly trade partner on which we have now become highly dependent as a nation.
I remain convinced that we Americans are a resilient breed, capable of competing with any country in the world. The answer isnt through building the largesse of government and expecting them to fix our problems. Give the power back to the people through lower taxes and the freedom to act without oppressive government regulation. Let the human spirity once again soar by giving the citizenry the right to succeed, the right to fail, and the right to enjoy the fruits of their labor without giving half of it to the government for wasteful programs, to give “hand-outs” to groups and causes we find objectionable and even reprehensible. It’s about finding our roots again, and figuring out who we are as a country at large. What we have become is a marginalized society, fearful of offending any group or person. We have put aside our common sense and our right to live our lives as we deem fit.
It happens every time in history where our individuality becomes marginalized, our faith is sidelined, and the legacy we pass on to our children is simply materialism, humanism, and a “live for now” mentality.
In short, I think the Rebublicans have the right recipe, or at least are going through the right motions. We are soon to witness the results of whether these actions are more form than function, more changing of the laws than changing of the heart. Only a change of heart and a refocusing on the collective conscience of this country will make us fruitful as a nation again.