I get many e-mails from listeners who vehemently disagree with President Obama, and myself, about how we should be dealing with the current economic mess. I try to respond to them all, but it gets a bit overwhelming. So instead, I’ll respond to some assertions made by listener Bill in a recent message…
- the Obama Administration does want to nationalize business in this country. How else will he redistribute wealth as he and others in his party have stated is their goal?
Obama does not want to nationalize business in this country, and he doesn’t want to redistribute wealth. He does believe, as many do, that the wealthy (including himself) should shoulder their fair share of the tax burden, and that there must be a safety net for vulnerable Americans. More on this as we go along…
- the economy is now officially owned by the Obama Administration since he and the Democratic majority have pushed through the recent Stimulus Bills and budgets with his $3.6 trillion budget about to be pushed through as well. He is increasing debt, not cutting it.
It’s true that the economy is Obama’s baby now, and he admits it himself. He will be judged by the success or failure of his economic plan. But he’s the guy who was elected to implement his ideas. Be honest, though. The first stimulus bill was passed under the previous administration. He is increasing debt, not cutting it, out of necessity. With all quarters of the economy contracting, the government can’t sit on the sideline and watch the economy collapse. I don’t care what history revisionists say, the New Deal did pull America out of the Great Depression. World War II finished the job - but that was exactly because the government adopted even more deficit spending.
- Politicians are very good at grand standing and rushing to pass new regulation and do a terrible job of evaluating what the unintended consequences of their decisions or bills may be. This is also another basic rule in business, determine what the upside and downside of the decision that you are about to make may be.
That may well be true of politicians. But we’re seeing in vivid detail that businesses aren’t always so capable of determining what the upside and downside of a decision will be. The bottom line is that this recession was caused by businesses run amok, not by government, though I believe government could have done much to prevent it via stricter regulation of these irresponsible financial institutions.
- Joe. My father worked three jobs to provide for his family. He never sought, demanded or expected the government to support him or his family. I have worked since I was 14 years old and actually from the time I was 8 if you consider a paper route, snow shoveling and lawn mowing jobs. Now Joe. My father worked three jobs to provide for his family. He never sought, demanded or expected the government to support him or his family. I have worked since I was 14 years old and actually from the time I was 8 if you consider a paper route, snow shoveling and lawn mowing jobs. Now I am supposed to just sit back and accept that all that I have EARNED with over 45 years of work is to be taken or taxed away to redistribute to second and third generation welfare recipients who have proven that they are too lazy to work and also to support illegal aliens who shouldn’t be here in the first place. And you call this fair and just?. And you call this fair and just?
Your father’s work ethic is admirable. But there are many, many people out there who can’t find one job, let alone three these days. Shouldn’t government help those people via unemployment benefits, etc.? I, too, have worked all my life and have never gotten government assistance - unless you want to count student loans (which I did pay back 100%). But I don’t resent a portion of my tax dollars going to support an unemployed worker or a family mired in poverty. And to say that “I am supposed to just sit back and accept that all that I have EARNED with over 45 years of work is to be taken or taxed away to redistribute to second and third generation welfare recipients who have proven that they are too lazy to work and also to support illegal aliens who shouldn’t be here in the first place” is nonsense. If anyone says that raising the tax rate the wealthiest Americans pay from 35% to 39% percent is taking “everything they’ve worked for,” that person needs to get an education in mathematics. Also, don’t discount the benefits that workers, whether legal or not, bring to our communities.
Once again, as my title to this blog says, we have to be honest in our arguments. Outrageous overstatements and misrepresentations do nothing to either solve the problem or enhance the discussion.
I hope Obama succeeds fantastically!