By Tom Quiner
It’s always a breath of fresh for me when the president and I agree on something.
Today, President Obama said our problems are eminently solvable. I agree.
Despite our nation’s credit downgrade, and despite the hammering the stock market is taking right now, the president and I both agree our problems can be solved.
Where we part company is how.
The president said:
“Markets will rise and fall, but this is the United States of America. No matter what some agency may say, we’ve always been and always will be a triple-A country.”
How can he say that?
It seems to me we will only become a triple-A country again if we get our national debt under control. And that will NEVER happen using the Obamanomics model.
The only way the president makes our debt go away this century is with unrealistic economic growth assumptions.
How accurate has candidate and President Obama been anyway?
If our problems are so eminently solvable, how come things keep getting worse under Obamanomics? The president insults our intelligence with his imperial pronouncements while our country stagnates under his watch.
His approach of obscene levels of government spending, obscene levels of new regulation on business and unsustainable new entitlements are not the ticket to economic prosperity.
How well have they worked so far?
They have failed, and yet the president always blames someone else, usually former President Bush, or else Republicans in general.
Who is to blame for the big drop in the stock market? Republicans, of course, as inferred by Mr. Obama today:
“We knew from the outset that a prolonged debate over the debt ceiling, a debate where the threat of default was used as a bargaining chip, could do enormous damage to our economy and the world’s.”
Of course the Democrats could have raised the debt ceiling last year before Republicans retook the house, but they refused to do so.
Of course then Senator Obama voted NOT to increase the debt ceiling under former President Bush, the man, according to Mr. Obama’s tiresome laments, is responsible for about every problem in America and beyond.
Obamanomics have failed.
What are some things we could do to begin undoing Mr. Obama’s damage to our economy?
Here are quick ideas:
• Cut federal spending over the next ten years so our creditors can see we’re a good credit risk.
• Repeal Obamacare.
• Remove trade barriers to health insurance companies by letting them market their products across state lines just as life and car insurance companies can do. Just as General Motors can do. Just as Snickers candy bar can do. Just as about any company in American can do.
• Approve the Korean Free Trade Agreement. This bill was set to be signed under Mr. Bush. Unions have stalled its signing ever since.
• Repeal the Chris-Dodd consumer finance reform act. Announce a moratorium on all new government regulation until GDP has grown at least four percent a year for two consecutive years.
• Suspend the minimum wage until the unemployment rate falls below 5%.
• Make every state a right-to-work state.
• Eliminate the capital gains tax and get out of the way, lest you get swept away in a tidal wave of investment capital!
• Most importantly, flatten income tax rates and simplify the tax code as proposed by the president’s Debt Commission, the one the president chose to ignore.
Our problems ARE eminently solvable. We need to choose the solutions with a track record, like those I listed above.
We must undo the ones with a track record for failure, the ones Mr. Obama and his party have chosen.
Working class America has been deeply wounded by Obamanomics.
It’s time for change we can believe in.