Biden: economy close to “abolutely tanking”?

In a Sunday program scheduled to be aired Dec. 21st, Vice President-Elect Joe Biden claims the economy is in “much worse shape than we thought it was in”.

He goes on to claim that a second economic stimulus package in the range of $600-700 billion would be needed in the short run to keep the economy from “absolutely tanking”. Others believe this stimulus package will near $1 trillion.

Some feel a Government spending approach to the problem will only make things worse or prolong the recovery. Maybe that is what Joe Biden was referring to when he made his “absolutely tanking” comment.

I don’t understand why many in the Republican party (led by President Bush) have moved away from the traditional views of the party that made it once great. Bigger, more powerful government has not been the recipe for success in our nation’s history.

The nationalization of banks and most recent bailout of the Auto industry by the Republican party have laid the stepping stones for making Obama’s path toward bigger government a reality.

With these first stepping stones in place, the Democrats have momentum to push through a trillion dollar economic stimulus package. This proposed “stimulus package” includes funds for roads, bridges, energy efficient government buildings, broadband internet expansion, renewable energy, school repair, among others.

Since the government doesn’t make any money (other than physically making the money), the only source of income for the government is through taxes. These “stimulus” projects will then be paid by the citizens through our taxes.

I don’t think anyone can disagree with the importance of improving roads, bridges, schools, etc. Where I have concern is doing this now with a record debt and deficit. There is debate on how effective these programs will be at providing the planned stimulus and how quickly we could see any results. Let’s worry about spending more money when we have our debt and deficit under control.

I know when I am low on funds and high on debt, I cut my spending to only necessities. When my debt is under control and I make more money than I have going out, that is the time to make improvements on the house. Not when I can’t afford them. As a nation, we can’t afford another home equity loan from China to paint the house and fix the cracks in the walls.

The Obama/Biden plan to throw more money at the problem during a time of crisis will only make it easier for projects full of pork to get thrown in and our tax dollars spent wastefully. If history is any indicator of the future, Democrats have been responsible for the most wasteful spending. With a Democrat majority Senate, House and President we better be ready to hold our government responsible for these earmarks and pork-barrel spending.

Let’s look back at what works.

Reducing taxes has been proven to increase, not lower the government’s revenue. As taxes are reduced, people are encouraged to take risks by creating solutions to the problems we face. This innovation and entrepreneurship by the people and companies, not the government, resulted in the creation of the best companies in the world.

Innovation by the people is key to creating the next Google, Microsoft, and Ford. These new companies will be what leads us out of this time of crisis as long as Government doesn’t get in the way.

When I look at how President-Elect Obama won the 2008 election I am amazed. I don’t agree with most of his political positions, but I can appreciate the way he ran his campaign. According to this report, Obama raised 89% of his money from individual contributors.

Mr. President-Elect, let the people bring us up out of this crisis by reducing the barriers to American ingenuity to create solutions to the problems we face. Companies (people) provide the jobs and resources that drive America, not the Government.

These same individual contributors who put Obama in office are the answer to our problems. American’s, when faced with challenges, always rise up and make America better. I hope the policies put in place now and in the near future don’t impede the true solution to the problem. The more we rely on Government for solutions the more we will rely on Government for solutions.

I’d hate for us to loose the American self-reliance, independent spirit that makes us the best nation on earth and why 73 million people have immigrated to the U.S. since 1820.