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Home Sections Politics President Obama Needs a Lesson in Economics 101
President Obama Needs a Lesson in Economics 101 PDF Print E-mail
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Sections - Politics
Written by Gerry Garrison   
Thursday, 12 April 2012 17:57

In This Corner

By Gerry Garrison

M ost of you have heard the latest tirade by President Obama against the Republican’s new budget plan, as authored by Representative Ryan. Mr. Obama purposely mislead the American public on the details of this budget, calling it a “Trojan Horse” that is “,,, nothing but thinly veiled social Darwinism”.

Really, Mr. President? Where is your plan? The Senate won’t even bring it up for a vote. Why?  It could pass if all Democrats voted for it. All they would need is a 51 vole majority to bring it to a conference committee between the House and the Senate.

Because the President knows that his budget wouldn’t stand a chance in conference. It is full of trillions of dollars worth of spending, with only 1-trillion dollars in spending reduction. Mr. Obama said it all about the math. 

Your right, Mr. President. Your math is all wrong. Perhaps you need go remedial math.  Maybe you would learn had to add and subtract, along with division and multiplication. But, I digress.  

Mr. Ryan's proposal aims to slash the deficit and the size of government while offering sharply lower tax rates in return for eliminating many popular tax breaks. This is the math lesson Mr. Obama needs to learn.

President Obama needs to take a lesson from one of most popular presidents of our time.  Perhaps he could learn something about budgets. Then maybe, just maybe, he learns how to meet the Republicans half way. Anything possible, don’t you know?

Just like Mr. Obama, former President Jack Kennedy was not a proponent of Supply Side economic policies.  However, unlike Obama, this past president’s belief in tax cuts is clear by this statement:

 "Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget just as it will never produce enough jobs or enough profits… In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.”

As President, Mr. Kennedy signed legislation that lowered all marginal tax rates. His belief in the concept behind the above quote is clear.  Kennedy would be considered “out of step” with the Democratic Party if he were alive today.

As long as Mr. Obama continues his rant against lower takes and smaller government, his popularity will continue to decline. Even though he currently has a 47% approval rate, his disapproval is at 45%. No President with this low of an approval rate this close to an election has ever been re-elected.

M eanwhile, we have government agencies spending lavish amounts of money and joking about it.  Consider the recent GSA conference in Las Vegas, which was so expensive, that the head of the GSA was forced to resign.

Officials of this conference, which is now under congressional investigation, were joking about the expense of this conference, which took place in October of 2010.  One even claimed he would never be under OIG (Office of Inspector General) investigation.

At the GSA bash, the shrimp was on a platter, at $4 a pop, the cheese display at that party cost $19 per person, and the sushi station, another $7,000!. How about breakfast for these federal employees? A whopping $44 per person!

Meanwhile, President Obama is trying his best to fight against cutting federal spending. Calling Congressman Paul Ryan's prudent budget proposal "Social Darwinism”.  He argues if the federal government doesn’t   continue to fund his administration, that “the poor and underprivileged” will be denied their piece of the American pie, like eating $4 shrimp.  Really, Mr. President?

Mr. Obama’s solutions are anything but. The President’s only generosity is endless social and political programs paid other peoples' hard-earned money. These policies ultimately further financial enslavement by keeping Americans deeply in debt and entrenched in welfare entitlements.

All of this has resulted in a wasteful spending epidemic that American economy cannot sustain. All Obama policies have done is create a federal government with excessive and unnecessary bureaucracy, along with endless expensive regulation.

And the liberal press has done nothing to help. All they do is complain about how Republicans support corporate greed, supporting tax reduction for the rich and keeping poor in poverty.

The only way this is going to end is to stomach Mr. Obama until January 20, 2013.  The Republicans can win November by focusing on the economy and this president’s socialist agenda and policies.  The American people have awaken to this bad dream and most want it to end.

The time has come to end this nightmare we have endured for the last three and half years. Representative Ryan and the Republicans have the only real and lasting solution to get this economy back in balance by less spending, lower taxes, and less government. This creates more jobs for the American people and more freedom to live the American dream.

A lesson in Economics 101 is what President Obama needs. However, it is probably too late for him. Not for those of us who believe the Republicans can do a much better job.

But what do I know?  Just saying … # # #

 



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