Diary

Getting Airborn

by Lon Gibson ~ September 5th, 2011

The economy is like a huge Boeing transport jet that has lost its ability to fly. It still has all the parts and structure of a successful plane, but it needs new jet engines, experienced engineers and a skilled pilot. The engine our economy needs is a burgeoning private sector complete with major real estate incentives, banking investment and risk-taking entrepreneurs. The engineers we need are the kind of politicians who have private sector experience and actual working economic knowledge. The Pilot we need is a President who is not merely a politician, but has private sector experience as well as strong successful governing experience.

There are three ways to replace our tired dysfunctional engine that can’t get our economy off the ground. After all, we have been promised for almost three years that this thing will turn over—and the engine just seems to keep losing power. Anyone who has sat in a car with a flooded engine knows the feeling. Our national economic engine is flooded with too much government, too much borrowing and too much printed money. The three measures needed are major strokes that have been proven historically effective in refurbishing economic engines.

1) Cut back government. Over the past three years, we have done just the opposite. Government has been growing at a phenomenal rate adding at least 160,000 employees in the federal sector alone. There is an inverse relationship to government jobs and private sector jobs. The bigger the government is, the weaker the private sector becomes. Cutting back government was accomplished to great effect in the 1920’s under Warren Harding and Calvin Coolidge. The part of the 1920’s that “roared” was the economy having been transformed by a nearly one third reduction in government bureaucracy.

2) Reduce investment and business taxes. When businessmen know they will be able to keep their money and reinvest it to secure and grow their businesses, they will soon begin to expand, buy more inventory, purchase infrastructure and hire employees.

3) Cut back Regulation. The current administrations fascination with EPA regulations, environmental red tape and a complete redo of financial regulations in the form of the Dodd-Frank Regulatory Bill has frozen business in America. Not only do the regulations themselves make business difficult, but the threat alone of more regulations coming from government is enough to stall investment. What this administration has established in tone constitutes a veritable war against business causing an unprecedented zero jobs created in August of 2011.

To institute these major changes to our economic engine we need an experienced pilot and a new set of experienced engineers. The ideal pilot would be a new President in the mold of Mitt Romney who has both private sector and public governing experience. Mr. Romney has years of experience saving bad engines. His professional background at Bain Consulting consisted of taking a failing business, cutting down the excess, hiring the best “engineers” and getting the business flying again. We would be hard pressed to find in America a President more suited to the task of getting our economy off the ground. If Mitt Romney does become our next President, you can expect these changes and a new, refurbished economic engine that will make the past three years seem like a bad dream.

To see more about Mitt Romney please go to www.gimmemitt.net