Dirty Secrets the Left Won’t Tell
Dirty Secrets the Left Won’t Tell
Lost in the weeds of the debate about this nation’s debt ceiling are a number of dirty secrets the left won’t tell.
Much of the deficit could be fixed if those 20+ million unemployed Americans could find a decent private sector job. Tax revenue to the government would soar. There would be fewer people on food stamps and welfare. Fewer people drawing unemployment checks.
But employers are not hiring. Why? Well, the left won’t admit it, but here are the reasons. Obamacare. Energy Costs. Inflation. Tax Policy. And because Americans aren’t spending.
1. Obamacare. No democrat who voted for it wants to admit it, but it has created a permanent drag on the economy because employers still can’t get their arms around what it will cost, except that they do know costs will rise as more taxes to pay for it are levied, and more regulations are implemented to enforce it. Companies like McDonalds that have been given a waiver are hiring. Imagine what would happen if every company got a five year waiver from Obamacare.
2. Energy Costs. The cost of energy has negated the impact of extending the Bush tax cuts. And the posture of the President and the EPA does not encourage anyone to believe that energy prices will ever come down again. The dirty little secret is that the left does not want the price of fossil fuels to drop, for they still cling to the utopian dream that jacking them skyward will someday make solar cells and windpower economically viable. It won’t. Open Alaska and more public lands to energy exploration, build a pipeline from Alberta to the Gulf so that we have access to Canadian oil and watch the price of gasoline come down.
3. Inflation. Any American who can read knows the Fed is printing money. Anybody who has been in a grocery store more than twice in the last six months knows that inflation is with us, alive and vicious. As Americans see the value of their dollar erode, and their food bills skyrocket, they become very cautious and less inclined to spend money on other things.
4. Tax Policy. Last year, Republicans won the largest majority in Congress since the 1940’s. They did not win that majority by promising to raise taxes. And they are not going to. Furthermore, even if you abolish the corporate loopholes and confiscate the wages of all those making more than $250,000 a year, it still won’t balance the budget or pay the bills of the Obama Presidency. The dirty secret is that Obama’s bills cannot be paid without leveling taxes on more of the middle class, or imposing a Value Added Tax.
5. Lack of Consumer Confidence. Consumers aren’t spending money because they have little faith in the President, and have come to the conclusion that he is in over his head. The stimulus bill was a flop. Obama care is not working as promised. Energy prices have skyrocketed. He refuses to be serious about entitlement reform. His every solution to the spending problem is higher taxes. When Americans lack faith in a President’s stewardship of the economy, they sit on their wallets.
Few on the left will admit these dirty little secrets about what ails the U.S. economy. And there is something else those on the left won’t admit. They really do want the United States to be more like Europe. Except when we become another Europe, we will cease to be the United States of America.
Ever hear of European Exceptionalism?