Are you excited about Obama’s
campaign speech, State of the Union Address, jobs speech presentation to a joint session of Congress? If so, tune in to hear platitudes and ineffectual, half-backed rhetoric. Extended unemployment benefits, trivial hiring incentives, infrastructure, stimulus, Keynesian hyperbole and excuses.
I try to stay out of politics on this blog, but I feel compelled to comment about gross fiscal negligence. I accept the argument that US GDP as a percentage of global GDP is susceptible to decline. As an US citizen I see no reason to accelerate the decline. For elected officials to do just that is negligent, naive, or fundamentally hostile to the general welfare of the United States.
The fact that the US has been so successful from 1945 to present is a testament to something unique and special about our whole socioeconomic system. The fact that we have righted or ameliorated our past social mistakes while improving our economic quality of life is remarkable.
Why our President is so hostile to basic economic factors is shocking. Historically massive US National deficits siphon capital from the private sector. Federally-manipulated low interest rate actions (QE1, QE2) sap safe investment opportunities from senior citizens, while fueling speculation in gold, silver, and commodities ranging from oil to corn to aluminum. Putting the hammer down on domestic oil and natural gas production, particularly off-shore, puts another deep bleeding gouge into the US GDP. Presidentially-dictated EPA mandates on coal plants put US electrical production in limbo. Crony-capitalism (or faux capitalism) puts basic free enterprise on notice to be politically correct as a first priority.
I have been silent too long. I avoid social political issues, but I must address fiscal political issues. This is my first salvo.