September 2, 2011
Marie Lozito is a Registered Nurse, Licensed Massage Therapist, wife, mother, grandmother and life-long conservative. She wrote a text on medical massage and taught at New York College of Health Professions.
Interested in, and observing politics since 1960, she
ran for elected office in 2010.
Comparisons and Hypocrisy
First before the column starts, I want everyone affected by Irene to know they are in my thoughts and prayers. I hope your losses were not great and that you, and your loved ones, are safe and well.
History repeats itself. Anyone who reads history can easily see that. The fact that the American economy is in bad shape is not a new phenomenon. In the late
1970s Jimmy Carter was President. America had horrendous inflation and the economy was a disaster. More recently the economy got in trouble again. The problems began to be obvious in 1999 and crashed in
2007-8. 1979 and 2008 have very similar situations in the economy. In 1980, Ronald Reagan was elected president and treated the economy in a conservative way. In 2000 President Bush, an alleged conservative, was elected and towards the end of his presidency treated the economy in a liberal way. In 2008 Barack Obama was elected President and had a liberal Democrat House and Senate for two years. They pushed the liberal agenda as hard and fast as they could. It is interesting to compare the results of conservative economic policies versus liberal economic policies.
"If you really want to light the fuse of a liberal Democrat, compare Barack Obama's economic performance after 30 months in office with that of Ronald Reagan. It's not at all flattering for Mr. Obama. The two presidents have a lot in common. Both inherited an American economy in collapse. And both applied daring, expensive remedies. Mr. Reagan passed the biggest tax cut ever, combined with an agenda of deregulation, monetary restraint and spending controls. Mr. Obama, of course, has given us a $1 trillion spending stimulus. By the end of the summer of Reagan's third year in office, the economy was soaring. The GDP growth rate was 5% and racing toward 7%, even 8% growth. In 1983 and '84, output was growing so fast the biggest worry was that the economy would 'overheat.' In the summer of 2011 we have an economy limping along at barely 1% growth and by some indications headed toward a 'double-dip' recession. By the end of Reagan's first term, it was Morning in America. Today there is gloomy talk of America in its twilight. My purpose here is not more Reagan idolatry, but to point out an incontrovertible truth: One program for recovery worked, and the other
In fact, the conservative treatment of the economy (cutting taxes and regulation on businesses) has resulted in increased income to the Federal government every time it has been tried. In my lifetime, that would be the tax cuts created by JFK, Reagan and Bush, all increased government revenues. On the other hand, the liberal approach – government spending more money, raising taxes and fees, writing more regulations – has never helped.
The failure of Obama's stimulus is undeniable. Many economists even say that FDR's New Deal actually caused the Great Depression to last much longer than it would have had he not intervened with his liberal agenda. More recently you can look at the Japanese recession, “the Lost Decades”.
Their recession started in 1990 and they are still struggling to end it. The government of Japan treated it with the liberal approach – interfering in business and bailing out companies “too big to fail”. Oh how familiar that sounds!
"The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents -- number 43 added $4 trillion dollars by his lonesome -- so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic."
-Barack Obama on July 3, 2008.
Compare this to Barack Obama's performance – it
took only two years for him to show he was “irresponsible” and “unpatriotic” by adding over $4 trillion more
to the debt!
Just this July Barack Obama had this to say about Rule of Law in America: "I swore an oath to uphold the laws on the books. ... I know some people want me to bypass Congress and change the laws on my own - that's not how our system works." If only he actually meant that! Under Obama's recent orders, the Department of Homeland Security will now enforce the DREAM Act even though Congress has voted it down every time it has come up! Specifically, the Department of Homeland Security has announced that it will halt all deportation proceedings against illegal immigrants who attend school, who have family in the military or who are primarily responsible for the care of other family members, allowing them to apply for work permits. This means that only illegal aliens who have committed “serious criminal offenses” in the United States will now be candidates for detention and deportation. This of course ignores the first criminal act they committed – coming into this country illegally. The same president who swore an oath on his inauguration to "preserve, protect and defend the Constitution of the United States" is thus continuing to trample it by refusing to enforce existing immigration laws and by making up his own.
It isn't only the politicians who are hypocrites. Warren Buffet is one that comes to mind very quickly. He is a very wealthy man and he publicly states he agrees with Obama and the other liberals that the “rich” should pay more taxes. His corporation, Berkshire Hathaway, has unresolved tax issues that go back almost a decade – to 2002! How two-faced is it to claim that
he wants to pay higher taxes when he owes the IRS for almost 10 years of tax revenue? This hypocrisy is indicative of the culture of the left. They want to grow the size of government, and they want to do it with other people's money! At the end of the day, Warren Buffett knows what he's not willing to say: higher taxes are bad for business.
If we really want to restart this country's economic engine, government needs to get out of the way of the private sector where jobs and wealth are created. Obama's call for higher taxes on "millionaires and billionaires," (by which he means anyone making $250,000 or
more, with a family of four) will only hurt small businesses. Most of them make more than that amount and many of them file taxes with a special schedule on their personal tax forms. Hurt them and you hurt job creation, wealth creation and the whole economy.