The president just announced a deal with Republicans to extend all the Bush tax rates for two years. It is great news if Obama can get his own Socialist Democrats to go along. Nancy Pelosi will never agree to this. It will take the new Congress in January to get this done. However; without a real reduction in the size of government to provide a permanent reduction in government spending; we will again be spinning are wheels and setting the stage for another economic crisis.
My hero Ronald Reagan gave the American people a tax cut to get the economy going and it worked. However, he failed to reduce government spending (Congress was controlled by the Democrats) that was the problem that got the country into Recession in 1980. Reagan only postponed what we are faced with today, another deeper Recession due to government spending too much money on wasteful socialist programs and earmarks all designed to provide incumbent politicians a legal way to buy votes from those groups in our society that receive the government handout. Both sides engage in this redistribution of wealth taking the money from those who produced the wealth and using the tax code power of government to take that money so the government can give it to others that did nothing to produce the wealth. Democrats push the socialist welfare state, while Republicans push corporate welfare and farm subsidies for business.
The first responsibility of an elected official is to protect the property (wealth) of each citizen from unconstitutional government programs. Sadly, very few understand this concept. Government by its very nature is besieged with requests from citizens for special favors. When the politicians start granting these favors the people band together into groups to battle the government for their “Fair Share.”.This is why we have a Constitution to limit what government can and can not do. For example: the Federal government has no constitutional right to engage in socialist welfare programs or farm subsidies. The States can engage in these programs using the authority of the 10th Amendment of the U.S. Constitution.
Our problem is we elect people who will protect our group’s spoils received from the Federal Government instead of electing those who understand the Constitution and are willing to protect and defend it and each citizen’s property against these vote buying giveaway politicians.
Did we elect this new group of Republicans to fix and grow the economy to support the new level of government expansion that Obama has given us; (20 percent in two years ); or will they reduce the size of the Federal Government by 50 percent that is needed to bring the government back to it’s Constitutional size.
Failure to reduce its size will lead to yet another fiscal crisis that may be enough to destroy our nation.
Pray that we have principled conservative adults running our government come January.
This is true for all levels of government!