Saturday, January 19, 2008

Ending Economic Recklessness

I do not believe the U.S. president can significantly affect the economy. But I do believe the president’s priorities can lay the framework for a healthy economic environment.

The Bush administration has failed to control spending, letting Congress binge like a drunken sailor, filling budgets with an embarrassing amount of pork and borrowing money with reckless abandon. It’s no surprise that one of the largest loan crises in American history has occurred at the same time as our government’s unhinged escalation of the national debt.

Bush and Congress have promoted an “easy money” culture. Whether they are simply following a larger cultural trend or whether they’re actively creating this irresponsible attitude, our government’s disastrous money management must bare a solid portion of the blame for our current economic woes.

We will rally past this slowdown because we Americans are an industrious people. But since it’s an election year, we should use this experience as a chance to elect a new president who can correct the economic mistakes of Bush and company.

Almost every candidate gives lip service to balancing the budget, but it’s not so much about desire as it is will. We have to determine who actually has the canjones to stand up to congress and curtail spending. Who will actually make balancing the budget and reducing the national debt a priority? Who will lay the framework for an economic environment of financial responsibility?

I’ll be listening. And I hope a lot of other people will be too.



Blogger Lonny Stern said...

As we stare into the face of recession, perhaps the time is ripe for re-evalutating our corporate tax policies. If we could cut the effective rate to all businesses, we just might make small and mid-sized businesses more globally competitive and able to stimulate new jobs and consumer spending.


9:51 AM  

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