Ryan; “We can do this. We don’t suffer any shortage of words coming from the White House, we lack leadership.”
A real plan with tax and regulatory reform to get America back to work as outlined by Ryan in his convention speech is exactly the medicine the housing market needs. We need jobs.
Obama says he just needs more time, and you can help him by removing the obstructionists in congress so he can get his ‘jobs bill’ passed. Wonder why Obama would want to get rid of Harry Reid who has blocked every piece of legislation that could have helped the economy? Regardless, they did pass one bill with tax credits that has produced exactly nothing again. In fact several months after passage unemployment went up.
Tax credits are like taking a squirt gun to a five alarm fire, tax cuts three tanker trucks. Mitch McConnell said it best when Democrats accused Republicans of wanting a bad economy to win the election; “If we wanted to tank the economy, we would pass the Obama ‘jobs bill’.
For those who are undecided, listen to what Henry Morgenthau, FDR’s Secretary of Treasury said: “We have spent more money than ever, and we’re right back at where we started eight years ago (identical unemployment rate), and have a load of debt to boot.”
Obama is simply following the same Keynesian spending plan for big government expansion as FDR did, with hope of an economic recovery. In addition to the testimony of Morgenthau, a study by economists from UCLA in August of 2004, proved FDR’s Keynesian policies extended the Great Depression by seven years. How’s that for hope?
Why would Americans risk another four years on a twice proven failed approach? As Ryan said, we are running out of time. Obama has added over five trillion to the debt in less than four years, and the CBO scoring Obama’s spending plan concluded the debt would rise to $20 trillion by 2016.
Do you think this amount of debt can be sustained? If you said yes, then say hello to Alice for me while you’re down the rabbit hole.