The Panic, Round Two: What Would Reagan Do? – David Malpass, The Wall Street Journal
With weak economies, the governments of industrialized nations are choosing to punish savers while rewarding themselves and big banks with super low interest rates and loads of debt. Keeping rates artificially low to assist big government plans diminishes the value of your savings and investments, not only in your retirement portfolio but in your business and home. The government is also sucking up all of the financing out there to hire more bureaucrats (for instance:16,000 more IRS agents to police the state to enforce Obamacare). In economics this process is called “crowding out,” where government uses resources that would otherwise be put to better use by growth generating businesses. As David Malpass notes, transfer payments from the government represent 18% of the nation’s personal income. Transfer payments move money from productive sources to nonproductive sources. Reagan would have lowered taxes to allow productive portions of the economy to thrive, and reduced government to allow more capital to enter the private sector, rather than be sucked up by the federal government. – Dick Young
VIDEO: Gov. Bobby Jindal Rips the Obama Administration – Jason Mattera, Human Events
The Obama administration has completely blown the response to the oil spill in the Gulf of Mexico. The administration hasn’t provided the needed resources or even allowed Louisiana to proceed to protect its own coast. What is the hold up here? This is an emergency situation and the Obama regime is dilly-dallying. What would happen if North Korea fires a nuke at the U.S. or a terrorist were able to use WMD inside America’s borders? Joe Biden promised that the President would be tested. The test has come in the form of this oil spill and Barack Obama is failing the test. – Dick Young
The Federal Government Grows While the Private Sector – Matthew Clemente, FreedomWorks.org
Americans are now receiving more in government aid than they are paying in taxes. Anyone who doubts that this is an unsustainable situation is either crazy or European. America must restore fiscal sanity, and soon, or it will wind up like Greece. – Dick Young
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