The Economy - Where Is Serious Debate?

With respect to the economy, I see people using statistics for their political objectives at a time when we can ill afford such nonsense. We should understand what has happened to our economy. It's complicated but needs understanding and action.

First, we face competition on a global basis. We lead in innovation, but our labor and environmental protection costs are much higher than are found in most of the world. Others are quickly using our technology, but have lower costs of production.

Second, we are spending (printing) too much money. This devalues the dollar and will lead to inflation and a reduction in our standard of living.

Third, we need to have perspective on this terrible recession. We must remember that these happen every so often. This recession can pass unless we do things to prolong it. No president or congress (past or present) deserves much credit for getting us out of a recession. The private enterprise activities of people are what saves us. Leave more money in the hands of the people to use or invest as they determine.

Fourth, the government basically stole the funds which should have been invested to pay for entitlement programs and infrastructure. The politicians spent these funds on projects that people in local communities would not have undertaken if they had to tax themselves. This competition for federal dollars by states and local communities has reached a level that threatens our entire society. Really this would be a zero sum endeavor if the federal government wasn't able to print money and steal from the social trust funds.

Fifth, the root of the current recession lies in actions by the Democrats in Congress and failure by Republicans to stop them. Anyone who has been an adult for more than a decade should know what happened. Democrats and activist groups intimidated banks into lending money to people who could not repay the loans. These new entrants also increased demand and ultimately prices. Enter the speculators, small and large who further drove up prices creating a kind of Ponzy scheme. The banks, being savvy, learned to profit from this growth in borrowing. They packaged loans like securities which were then traded without regard for their underlying value. Greedy Democrats buying votes, and greedy banks taking advantage of the situation have hurt us badly.

Sixth, we should know better than to involve ourselves in foreign wars unless we are attacked, and we know who the enemy is. It is not our job to police the world. It is our government's job to protect us nor roam the world looking for problems. We can't afford these adventures. Our best young men and women are asked to police the world, and they do it willingly. We owe it to these patriots to engage in war only when absolutely necessary and by act of Congress. And we owe it to our economy to use our money carefully.

Seventh, the job of the federal government is specified in the Constitution of the United States. It has far exceeded the authority granted to it. Until the federal authority is curbed, we are at great risk as a nation. We can't afford its largess.

Finally, Obama will exacerbate the problems of this country. He is inexperienced and clearly a leftist, the latter never having run a successful economy. He and an insanely liberal Democrat-controlled Congress are on a spending spree that is going to ruin us. These people need to go. We need to get them out of Congress. They are rushing pell-mell to ruin us.