Diary

How do we repair the American Economy?

Follow the Leaders to Prosperity

America’s dynamism is enabled by our economic prowess.  Our traditional economic strength was made possible by the exercise of individual freedom in a predominately free market by a highly educated population. The major challenge faced today by America is to create jobs and spur economic growth.

It has always been true that the private sector has produced the majority of the wealth of this country.  The major challenge facing America today is that the Progressive ideology practiced by President Obama and the modern Democratic Party focuses primarily on economic re-distribution rather than economic growth.  When the Progressives do face the issue of economic growth, they base their approach on the assumption that the Government is primarily responsible for job creation rather than the private sector.

In the name of social justice, the government has played an ever increasing role redistributing wealth from the taxpayers to the designated disadvantaged at the expense of a dynamic and growing economy. President Obama’s economic policy includes such job killing measures such as more government control in health care, increased regulation of the energy sector and more environmental controls, the public sector takeover of the auto industry and Financial Reform legislation.

In addition, the promotion of labor union power increases at the expense of both the private and public sector has had dampening effects upon our economic health.  The ever increasing power of the Democratic Party controlled Education and Legal monopolies stymie meaningful reform in these two strategically important sectors of our society. All the increased measures of having the Federal Government play an increased role in our economy has made America less competitive in the global economy. Americans cannot afford these policies any longer.

Our move further to the Left in regard to these economic policies has made the Middle Class increasingly the target of its failure.  At the heart of the implementation of progressive economic policies, is the punishment of success. Progressives aim to level the opportunity for outstanding achievement usually by lowering the standards for all but the anointed elite.  Progressive economic philosophy depreciates the traditional successful middle class American values of hard work, self reliance and competition.   

If we are to face up to our current economic challenges, we need models of success for America to emulate to lead us out of our economic malaise.  As a counter to the prevailing Progressive economic agenda, where can we look for models of positive policies that have produced more successful outcomes? Where are the exceptions to these prevailing rules?

Several State Governors have shown the way. State and local governments possess an inherent advantage when it comes to fiscal responsibility.  Unlike our Federal Government, State and Local Governments are mandated by law to balance their budgets every fiscal year.  A partial honor role of leaders taking truly opposing and successful approaches to the issue of economic growth and job creation during challenging times are Governors Chris Christie, Scott Walker, Rick Scott, John Kaisch, Rick Perry, Mitch Daniels, Bob McDonnell and Luis Fortuno.  What approaches do they have in common and what can this nation learn from their successful efforts?  What do such seemingly differing places such as New Jersey, Wisconsin, Florida, Ohio, Texas, Indiana and Puerto Rico have in common?

The Governors of these States and a Commonwealth promote the following policies:

–       Limited government and spending.

–       Reliance on the private sector.

–       Low taxes on individuals and business.

–       Promotion of pro-business climate through a favorable regulatory environment and development incentives.

–       Implementation of programs that make the delivery of services more efficient and less costly that utilize both public and private sector resources.

–       The limiting of the cost of labor by curtailing the power of public sector unions.

–       Reform of education through imposing higher academic standards, school and teacher accountability and increased competition through school choice.

Each State and Puerto Rico have slightly differing approaches to addressing the above listed goals; however, in each case implementing solutions based on Conservative principals have resulted in the creation of more jobs and revenues.  Contrast the success of these examples with progressive governed California. By every measurement of economic health, California is a failure.  People vote with their feet and move from Progressive States such as California and New York to settle in an oasis of economic freedom such as Texas. How do we turn around our economy on a national basis?  Follow the leaders to prosperity and free the American entrepreneurial spirit.    

The Inquisitor – The author of Blog – “Move the Political Pendulum – Right!”

Blog Address: http://questionsontheedge.blogspot.com