Tuesday, February 2, 2010

Are You KIDDING Me, President Obama?

     President Obama laid out his brand-spanking new budget on Monday.  Instead of cutting spending drastically, President Obama has presented a 3.8 TRILLION dollar budget that does little more than tax too much, borrow too much, and spend too much.  In fact, this new budget will increase the one-year budget deficit to 1.6 TRILLION!
     We are in an economic war right now.  On one side are the special interests and the government.  On the other side are the Joe the Plumbers of this world; the regular, hard-working everyday people trying their hardest to make a living.  The middle class is getting put through the ringer.  It is getting harder and harder to accomplish the American Dream with taxes that keep getting higher, spending that is completely out of control, and a government that doesn't care if you eat cake or nothing.
     If President Obama wants to stimulate this shaky economy, he needs to do three things:

  • Cut taxes on every single American and every single American business
  • Drastically cut Federal government spending
  • Stop the Federal Reserve from printing more and more money.
     Cutting taxes is a very easy to stimulate the economy.  By cutting taxes on people, Americans have more money in their pockets to spend and save.  By cutting taxes on businesses, they can afford to hire new workers.  That increases government revenues because all those new employees pay income taxes and payroll taxes, therefore broadening the Federal tax base.
     Cutting government spending is another great way to stimulate the economy because it ends the cycle of waste that is hurting us today.  By cutting spending, the Federal budget will finally be balanced therefore allowing for economic growth and increasing consumer confidence.  Increasing consumer confidence encourages Americans to spend money therefore stimulating the economy. 
     Stopping the Federal Reserve from printing more and more money is yet another way to stimulate the economy.  When the Federal Reserve prints money out of thin air every day, inflation is increased because prices have to increase to account for the larger amount of cash floating around.  Therefore, stopping the printing of money puts a cap on inflation and lets people afford more.
     The thing we all must realize is that the Obama administration and Congress don't care whether the economy is stimulated or not.  All they care about is lining their pockets while they pick yours and increasing their power while yours is stripped away from you.  

No comments: