As often as I write about today’s subject, I’m still amazed that after five long years the incumbent still thinks that the nation’s ills he caused can be solved by words. Or, more likely, he spouts the words as cover, fully aware of the damage he’s done with no real intent to apply the obvious cures.
According to Fox News on-line: “The White House says [a] Wednesday speech at Knox College in Galesburg, Ill., will be the first of many speeches on the economy Obama intends to deliver over the next several weeks ahead of key budget deadlines in the fall.”
The problems, however, have absolutely nothing to do with the worthless hot air he continually spews. They're the result anyone with an ounce of business sense would expect to result from attempts to break the back of free enterprise, over-taxation, excessive government intervention, coupled with massive movements toward socialism.
Thanks to the new health care tax, businesses are moving toward temporary help, employee swapping and 30 hour work-weeks. Union protections and unfunded future pension obligations are causing major defaults in the public sector, the largest and latest being Detroit. Environmentalists pressing for legislation and regulation based on totally incorrect assumptions and faulty data are further stemming commercial growth or prohibiting it altogether. Taxation's being used as a tool toward socialism, penalizing earners while growing handout recipients to more than 50% of the population.
Although the preceding are only a few examples of how the nation’s economic condition’s been purposely damaged severely, each of the issues cited has caused significant problems on their own. However, when the individual negative effects are taken together it can be clearly seen why economic growth’s been severely curtailed, and to offset the revenue growth, the nation’s debt is now approach $17 trillion, soon to be raised once more.
A further, quite simple illustration, of how purposeful though wrong-headed legislation negatively effects the economy while stifling growth can be seen in some data found this morning from CNBC via Drudge, as follows:
The national average price for regular unleaded gasoline was $3.67 a gallon on Friday.
AAA says that's 23 cents more expensive than the same time last year but still below the all-time daily high of $4.11 a gallon on July 17, 2008.
The association says retail gas prices are likely to rise more in the coming weeks. Unscheduled refinery shutdowns or hurricanes on the U.S. Gulf Coast could also add to price increases.
Now, if everyone using a vehicle for any purpose at all, be it business pleasure or anything else, is now paying more for a basic, plentiful commodity, that money can’t be spent on anything else. Consequently, fuel providers at any level do well, and all other purveyors earn less.
But that problem shouldn’t exist in our economy at all. Because we have more than enough oil to meet our every need from now to just about eternity, except, due to the incumbent’s anti-fossil fuel position we can’t access it in the quantities we need.
And then, even as ridiculous as prohibiting utilization of our own resources may be, there’s still a slightly more expensive but viable alternative. We could simply open the Keystone pipeline and buy oil next door, from Canada. But that too, is taboo because environmental lobbyists prevent us from helping ourselves economically.
Consequently, as each of our current economic problems are analyzed, in almost every case, there are simple fixes that can be quickly and easily applied. So, the issues the incumbent plans to drone on about in the coming weeks aren’t really the root of the nation’s economic woes at all. But if he truly wants to easily stem the nation’s fiscal woes, all he really needs is a mirror to see the cause.
That’s it for today folks.
Adios
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