Wednesday, November 4, 2009

Abandon the "Stimulus" Scheme

As a middle-class taxpayer, I oppose the so-called economic stimulus packages. The best way for Congress to stimulate the economy is to get out of the way of the economy and the free market. All current economic woes are a direct result of, and will be prolonged by, political meddling in, and manipulation of, the free market.

In spite of the damage done to it by Keynesian policies, the economy always recovers, albeit sluggishly and with much more harm to the People. The current economic downturn will be no different. It will recover -- eventually. But full realization of the recovery will take years longer than necessary.

I therefore predict that millions of Americans will be chronically unemployed and dependent on extended unemployment compensation for Obama's entire first (and hopefully only) term as president. I also predict that by the end of his first (and hopefully only) term, close to half of Americans will be financially dependent on government -- either as employees or as recipients of some form of "entitlement" paid by the labors of the other half and by heavy borrowing of at least $1 trillion per year.

Congressional actions and in-actions defy logic and impede development of natural resources such as petroleum, coal, and timber. Simultaneously, Congress stifles job creation in the private sector through over-regulation, over-taxation, and excessive bureaucracy. Interventionist politicians, such as Chris Dodd and Barney Frank (two of the authors of our current financial woes), have absolutely no right nor Constitutional authority to impose their will on business and the economy.

Instead of issuing bogus "rebate" checks to Americans and "cash for clunkers" subsidies, Congress must instigate immediate, substantial, constant, and permanent cuts in taxes, bureaucratic size and power, and take control of the regulatory process from the bureaucrats.

Congress must immediately allow and encourage safe and clean development of our natural resources including timber, oil, coal, and minerals. Congress must cease to use subsidies to underwrite non-viable, non-productive efforts such as welfare and other income-redistribution programs, ethanol, solar and wind power, and hybrid and electric cars.

If Congress will simply respect, follow, support and defend the Constitution as written and intended by the founders and as they have sworn to do, all this will be accomplished and the nation will get all the "economic stimulus" it needs. I urge Congress and the Whitehouse to abandon the "stimulus" scheme immediately and let the free market work.

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