Tonight, while I was at my Dad's house having dinner, we were watching a documentary on the presidency of Jimmy Carter. Without going into much detail, it's safe to say I think that President Carter's presidency was laden with problems. It wasn't hard to see that a straight-talking, honest, intelligent Ronald Reagan was a breath of fresh air for the country. In fact, given the situation in 1980, I would have probably voted for Reagan too. I'd like to consider myself an independent voter, even though I have typically voted democrat for the last 12 years.
I considered voting for McCain in this election, because I though it was right to consider both candidates equally. I actually like McCain's energy proposals, along with some other various proposals listed on his website.
What I can't wrap my head around is how the Republican party can continue to claim that they are the fiscally conservative party. How is it that the American public is not crying "Bullshit!" on these claims that somehow a Republican administration will be any different that the one that was in power for the 6.5 years during President Bush's administration. The Republican Congress and President inherited a budget SURPLUS in 2001 when they took over the majority in both the House and the Senate, and the Oval office. Now, we have a $410 Billion dollar deficit, and our national debt has increased from $5.5 Trillion to over $9 Trillion according to brillig.com. When Bush took over, the national debt was actually in decline. We've now increased our debt to other nations by 50% and reduced the value of our dollar.
So despite the fact that our richest Americans have enjoyed lower taxes for 8 years, the value of our dollar has decreased, effectively increasing the cost to buy products from other countries. Our 401ks have lost value, our homes have lost value, and our investments have lost value. Have the deregulation policies helped us? Did the tax cuts really save us money? Did the tax savings really trickle down to the folks in the middle class? Did the laissez faire policies of the investment market really expand and increase our wealth?
In addition, those that call Obama a socialist seem to not think that the $700B bailout of the banking system is somehow NOT socialist. The definition of socialism is "a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole." What about the government purchasing controlling shares in American banks is not socialist? Since politicians deem it necessary to take control of the banking system because it's good for the country somehow makes it acceptable socialism. Even though it's not a fantastic situation that we have to bail out our banks, it may be that it is for the good of the whole, and why is that wrong? If those that oppose Obama's "socialist" policies truly believe in laissez faire business policies and caveat emptor for investors, then they must oppose the bailout. The bailout is a pure socialist act, by definition.
I would love to be wrong about the Republican party and their recent fiscal policies. If I'm wrong, I would love to hear about it. But, a nearly $10 Trillion dollar debt, and $410 Billion dollar deficit doesn't say to me that the Republicans are fiscally conservative. If I'm wrong, please tell me. The evidence suggests otherwise.
Tuesday, October 28, 2008
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3 comments:
Grimes,
You're not wrong about the Republican party. It absolutely deserves whatever rout it has coming to it in 2008.
I'm not wild about McCain for a few reasons, but he is one of a few fiscal conservatives in the party (there are some others, like Sen. Coburn). The man has never had an earmark. To paraphrase a recent column, it's too bad the rest of the country has to share the punishment coming to the Republican party.
Bush did inherit a budget surplus, and now the mess is there for all to see. Increased deficits, increased debt. The main cause of this is runaway spending. He never vetoed a spending bill, and Congress kept it coming. To give a more rounded perspective, Bush also inherited a recession from Clinton, and the response to 9/11 (creation of Homeland Security, etc.) did increase spending quite a bit. Still, spending should have been cut, and it wasn't. Tax cuts work much better if they are accompanied by spending cuts.
I question the sole cause of the banking failure being deregulation. The UK, France, and other European nations are also feeling the same pinch, if not worse, and there's never a lack of regulation on that side of the ocean. Home ownership is a contractual agreement, not an American right.
I am dubious of the tax policies of both McCain and Obama. Obama will cut taxes for 95% of Americans, yet will let the Bush tax cuts expire in 2010. Will that be a net increase then? I don't know. If you could, provide a tax breakdown plan. I read this one (http://www.americanthinker.com/2008/10/senator_obamas_four_tax_increa.html), but want more.
You're absolutely right about the Republican party. It squandered its fiscal conservatism. I have that problem too.
Sorry, it didn't get the whole link there.
http://www.americanthinker.com/2008/10/senator_obamas_four_tax_increa.html
Libertarians for Obama:
If we can't be fiscally conservative, let's at least keep our civil rights.
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