Posted on 01/26/2020 6:53:39 AM PST by Kaslin
Steve Mnuchin can’t seem to move away from a huge economic misconception that I wrote about two years ago called “Living in an Economic Twilight Zone.” At the World Economic Forum in Davos, Switzerland, this week, Mnuchin said the White House has started work on the second round of tax cuts even as the budget deficit continues to grow. It would appear that he still believes in this misguided premise that we can “grow” our way out of $23 trillion worth of debt.
Mathematically speaking, that has not been the case since our national debt was more than $9 trillion at the end of 2007. Then, a president came in who was too busy apologizing for American exceptionalism and had no idea how to create an environment for growth. He believed in demonizing profits, regulating small and large businesses, taxing corporate America and increasing public assistance to record levels as the poverty rate grew larger every day. That administration believed that these actions, along with spending and expanding the size of government, was a plan for America’s growth and prosperity.
A strong economy is a great thing. I don’t believe it’s ever been better in my lifetime than it is under this administration. But we cannot—and will not—have sustainable growth, prosperity and economic stability without a strong, detailed, steadfast and unwavering plan to downsize the federal government and cut spending. We are living today in a perfect economic storm. It almost seems impossible for this storm to do anything but continue to circle around and grow in strength. The likelihood of the storm going out to sea and dissipating seems unlikely.
At the same time, we have one of the strongest presidents we’ve ever had; he’s a businessman, not a politician—a president who knows how to get things done and a president whose decision-making is not based on political correctness. Perhaps the most important thing is that we have a president who is willing to make hard decisions for the future of America, its people and its economy. We have never had a greater opportunity to make changes that can begin to peck away at our national debt. But it would appear as though President Trump is surrounding himself with people that believe that growth is the answer to everything and will solve the debt problem for future generations.
We will never be able to cut national debt without growth in our GDP and growth in our economic environment. It is literally impossible to do without growth. It is also unattainable to reduce national debt without cutting spending and reducing the size of our government.
Abraham Lincoln espoused smaller government, individual responsibility and freedom for all. Lincoln established one of the principles upon which the Republican Party was founded when he said, “Let’s have faith that right makes might; and in that faith let us, to the end, dare to do our duty as we understand it.”
If we don’t start in the next five years, it will be impossible to reduce deficits. Let’s get back to Abraham Lincoln’s ideals and keep government small. Let’s seize the opportunity to grow and strengthen the financial base like never before, to take advantage of this moment and begin completing the circle of America’s future prosperity.
What a stupid headline. Leftist. The Left always finds fault and since it has flaws it should be scrapped. And what the Left has in mind is much worse.
What we need is the courage to arrest those who have used their offices to steal their wealth from the American people.
There is the real economy and the political economy. Trump and his team have to master the latter before even attempting to do anything about the former..
We need individual freedom and a strong economy.
My prediction: We’ll get serious about balancing the budget and reducing the debt as soon as we get serious about putting the Swamp alligators (Comey, Brennan, Clinton, Clapper, Obama) in jail.
Every time there has been a surplus, either at the federal or state and local levels, the corresponding governments have found a way to spend that surplus, rather than paying down the debt.
The federal spending went up as the economy became more productive and tax revenues went up. The FACT is that, without reducing and controlling spending, that there will never be balanced budgets and lower debt. The naysayers on tax cuts never mention controlling and reducing the spending.
We need rule of law far more than an economy. Yet, we have none. The democraps get worse and worse, and now they want to overthrow our vote by impeaching our chosen president. We may have a roaring economy, but, without the rule of law, we will end of having nothing but tyranny.
Here we go with attacking the strongest success of the President.
Its like a klaxton Trump Derangement syndrome horn . OOOOOoooooOOOOOGAH! OOOOOoooooOOOOOGAH!
” President Trump please bring back federal art grants which allow artist create displays of Christ being urinated on!”(SARC)
We need more than just a strong ecomomy. Government needs to feed our souls because its our socialist religion...etc. (SARC)
Socialist matreialists saying they are not materialists, looking for soul from the government? Buahahahahahahaha!
Leave that up to genuine religion.
Government is NOT the religion of the people, like it is in places like Russia, China , Saudi Arabia and Iran.
Be free you little inbred bastardly dog Dan Celia ! Celebrate the return of freedom. Or crawl into the dust bin of history.
What a stupid headline. Leftist. The Left always finds fault and since it has flaws it should be scrapped. And what the Left has in mind is much worse.
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It’s not stupid to believe that smaller government is needed along with a bigger economy. But the author shouldn’t ignore the social issues that are dragging this nation down — LGBT diversity trashing competence, crime, schools that don’t teach, etc.
He could only accomplish that if he were a dictator. He will certainly get no help from Congress, be it Republican or Democrat controlled in both chambers. That is obvious.
Tax cuts and massive government spending is easy. The youth will get more debt passed onto them. It was easy to be against the Obama spending, now everyone is radio silent.
However, on a national level as on a personal level, wealth and prosperity make the best of all things possible.
Notably, they afford us the ultimate luxury: to be able to live according to principle.
If anyone ever says: "Money can't buy happiness," shout: "BALONEY!" as loud as you can.
Among many other things, money can buy you some very expensive psychotherapy--or marriage counseling--or education--or rehabilitation--or vacation to recover from it all .
And again, money--or wealth and prosperity--can allow you to afford the ultimate luxury.
I've been poor, and I've been rich. Wealth has bought me great happiness. It's worth working hard for. I worked hard--really hard--for many, many years. It was worth it. It bought me lots of psychotherapy, lots of other wonderful things, including a clean conscience and the ability to live according to principle.
On a national level, wealth and prosperity do the same thing.
It's people whose bellies are full and who have everything they could possibly want who tend to be generous and who rise to their highest potential.
I saw a well educated moron on TV a few years ago lamenting the fact that the Texas superconductor was not going to be built. I wanted to clue him in that freedom--and free market capitalism, which is a form of freedom--were the key to getting it done. When people have an excess of wealth, they tend to become generous--and to allow other wonderful virtues to find expression.
Wealth and prosperity are great--personally and nationally! Never let anyone tell you otherwise!
The Headline should have read something like this:
A Strong Economy Is a Great Thing—But We Also Need Limited, Smaller Constitutional Government.
“ Mnuchin said the White House has started work on the second round of tax cuts even as the budget deficit continues to grow.”
A false connection between lower taxes and deficits. Our Treasury has taken in MORE money each year since the tax cuts.
Democrats have insisted on spending even more.
Get rid of baseline budgeting. De-centralize the federal government (as Trump is starting to do). Get serious about fraud in Medicare, Medicaid and Social Security. Stop giving benefits to non-citizens. And give people an option to invest their Social Security dollars in a 401(k) type of arrangement.
Seems as though it’s going to be the new trend for the never Trump crowd, wonkish nitpicking. As the many on the right are coming to the conclusion that we’ve never had a better president, that white-hot anger of being so wrong the never Trump crowd just can’t help themselves. It’s the last year for many a media career.
We need a spiritual revival and to re-consecrate this nation to God or none of this is going to stick after President Trump leaves office in 2025.
Two words. Debt forgiveness.
Wow good post. I totally agree with you. I want no control over people’s ability to accumulate wealth and thus personal stability. While I’m not wealthy, I’ve worked hard at saving money. I’m still working at 67 and still saving.
Essentially we are saying: allow us to earn and then save or not save, our own money, and we will work out everything else, ( except of course to have a fully functioning military and to have safe and clear roads).
It's not the money, it's the stuff!
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