The "illusion of progress" continues as our president and members of Congress fumble with ineptitude in kicking the debt/deficit problem down the road without obtaining a long term solution to our serious financial problems.
Words or phrases that are currently being used in news stories about the issue of Congress to raise the debt ceiling are: "we are facing a catastrophe," "an economic Armageddon," "a U.S. default is national suicide" and other similar alarmist comments.
Don't you think there is a serious problem to the survival of this country when such comments are made by politicians of both parties who have attempted to manage this government, but because of greed, ineptitude and misplaced priorities which have failed miserably? Does the use of these words give you cause for alarm that unpleasant events are about to occur in the United States and around the world?
They should because the day of reckoning is coming soon for living beyond our means via "the credit card mentality" and there will be plenty of pain to go around if we can keep our sense of values and correct the root causes of the predicament in which we find ourselves. We have no one to blame but ourselves for electing an unqualified Socialist leaning president and the inept members of Congress who have been derelict of their duties.
Look at the results. The TARP (Troubled Asset Relief Program) stimulus costing $850 billion was sold as creating 3 million jobs or more. It would keep the unemployment rate under 8 percent, but unemployment increased to over 10 percent and is now at 9.2 percent. About 6 percent of the total cost of TARP went to infrastructure projects which weren't "as shovel ready as we expected" according to President Obama. What really happened? The stimulus program itself cost about 1 million private sector jobs and wasted in excess of $850 billion in taxpayer dollars.
Another example is Obama Care that was sold as a way to bend the health "cost curve" down. As it turned out, it is bending the cost curve up - health care will be more costly or unavailable than it would have been without Obama Care. If Obama Care is so great, why then in its first year did more than 1,500 companies, states seek and were granted waivers? What does that tell you?
Obama Care and the uncertainty of its impact are costing 60,000 jobs per month along with the avalanche of burdensome regulations from all government departments including tax policies that are like a wet blanket on the small business owners who create more than 80 percent of the jobs in this economy. Until the bureaucratic burdens of these restraints are lifted from these small businesses they will not be able to expand (job creation) and hire thus lowering the unemployment rate.
First, I would suggest a return to governing this republic in full compliance with the sound principles of the U.S. Constitution. Secondly, we need to drastically reduce government interference in all aspects of our lives and especially that of small businesses which is the primary cause of the rampant uncertainty among this economic class that is preventing job creation. The private sector is the primary engine of this economy. The government doesn't create any jobs; they are only efficient in creating class warfare and implementing the transfer of wealth from those who are successful in life to those who are not. A society cannot successfully sustain itself or survive under these circumstances. As the wisdom of Thomas Jefferson informs us, the democracy will cease to exist when you take from those who are willing to work and give to those who would not.
David B. Currance