From
NM Politics.net - By
Steve Fischmann - Politicians on the right tell us that cutting government spending, ending the “nanny” state and reducing taxes are the keys to righting all of our economic woes. From the left we are told that stimulus spending, funding major social programs, and raising taxes on the rich is the road to job creation and fixing the economy. Washington wages war over the budget and the theatre is riveting as politicians play Russian roulette with our future by putting U.S. credit worthiness at risk. We’re so transfixed by this iconic battle between left and right that we seem to have forgotten what precipitated our current economic woes in the first place. It wasn’t lazy welfare cheats, and it wasn’t ridiculously generous tax breaks to the wealthy – though neither helped. It was lack of commonsense regulation in the financial markets.
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Fischmann: Smart regulation is key to a strong economy
From NM Politics.net - By Steve Fischmann - Politicians on the right tell us that cutting government spending, ending the “nanny” state and reducing taxes are the keys to righting all of our economic woes. From the left we are told that stimulus spending, funding major social programs, and raising taxes on the rich is the road to job creation and fixing the economy. Washington wages war over the budget and the theatre is riveting as politicians play Russian roulette with our future by putting U.S. credit worthiness at risk. We’re so transfixed by this iconic battle between left and right that we seem to have forgotten what precipitated our current economic woes in the first place. It wasn’t lazy welfare cheats, and it wasn’t ridiculously generous tax breaks to the wealthy – though neither helped. It was lack of commonsense regulation in the financial markets. Read more
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2 comments:
Gee...lets analyze. When GWB and the republican congress controlled both houses we had 4% to 4.5% unemployment. Basically...the U.S. was at full employment, the stock market was in recovery mode and spending was relatively under control. THEN in 2006 the Democrats gained control of the U.S. Congress, Bush passed the Medicare Prescription Drug Benefit Part "D" and EVER SINCE the economy has been tanking. Finally the real estate bubble burst, which was EVERYONE'S FAULT IN WASHINGTON AND WALL STREET. And then along comes Obama who has given us nearly a TRILLION in stimulus spending, OBAMA CARE and TWO TRILLION in REGULATORY IMPEDIMENTS!!! So here it is; 4% unemployment with lower taxes and a $400 Billion dollar deficit. Now we have a 14 TRILLION DOLLAR DEFICIT, the health care industry taken over by the government (OBAMA CARE) AND TWO TRILLION in NEW REGULATIONS and WE'RE S-T-I-L-L IN A RECESSION. Does anyone see a pattern here? Low spending, low taxes = LOW UNEMPLOYMENT and a thriving stock market. HISTORICAL DEFICIT SPENDING, UNPRECEDENTED REGULATORY BURDENS ON BUSINESS AND A GOVERNMENT TAKE OVER OF HEALTH CARE = CRASHING MARKETS AND THE HIGHEST UNEMPLOYMENT RATE SINCE THE GREAT DEPRESSION? How's that "change" working out for you?
What a mess we're in. Instead of changing course, the finger pointing will be ramped up.
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