Harvey Carroll, Jr.
The Bush Administration were not good stewards of American`s money. It squandered trillions and exceeded the will of its citizens and their output and productivity. The Bush Administration from the year 2000 to now was directly and indirectly responsible for vast economic downturns in the American economy. Those downturns according towww.usdebtclock.org resulted in welfare tripling from 15 to 15 million people, the national debt tripling from around five trillion to over 15 trillion today (with a few trillion added by President Obama in the form of interest on the huge debt left him, and the needing to deal with health care, continue to bail out banks, industry and about 2/3rds of the American states that lost vast revenues in the economic downturn).
To add insult to economic injury the trade imbalance also tripled to nearly a 1 trillion dollar a year problem that has reduced America`s output and productivity as jobs shifted to the cheaper producers that have a percapita income of $1,000 to $4,000 a year while America`s percapita income is about $55,000 a year. Huge gaps that has cost American jobs, output and productivity that is destabilizing the American monetary system.
American`s and the world economy use the American Dollar or Federal Reserve Notes and expect America to be good stewards of their monetary system. Just like a family budget the Federal Government has to look at its income and expenses and recognize that the bond that holds the American monetary system together is the value of the output and productivity, along with the government`s ability to be a fiscally responsible.
Output or Productivity Jobs, money management, and taxes and regulations are the bonds that hold the American/World Economy together. If these three interconnected items become separated then the nation`s currency is at risk of collapse like occurred in the former Soviet Union. Jobs are of most important in America today as we hold a near 1 Trillion a year Trade Imbalance.
Ross Perot warned America about going down this path nearly twenty years ago. Perot was a wise man and I value him as a mentor and I have not only achieved many great things in Politics, but I have also obtained vast economic and finance skills to add to my Professional Public Administrators background because of the Perot movement. I even tried to carry on the Perot movement with a run for President in 2000 " Perot was also a solid advocate for money management and debt reduction; however, America`s national debt has more than Tripled since I ran for President in 2000.
Taxes have meandered all over the road, they have been cut as a tool to bribe Americans into keeping the Bush Administration in power while he raised Gas prices to the 2008 high that collapsed the Oil speculators bubble and the Biggest Fool`s were found left holding the speculative commodities as well as the inflated housing bubble holdings. Obviously, the American pension funds and the like, for it is usually the middle class and the poor the take the brunt of any policy or failed economic downturn. Yet, the current President Obama is now left with the must of raising unpopular taxes and dealing with higher and higher gas prices and being stuck in a conflicting world and being able to offer little in the form of improving the national economy and/or the standards of living that Government is designed to do.
If you liked this story I will offer a few links to prior stories that somewhat support this story. I will start by recognizing that President Obama has tried to reduce spending and focus on money management via his budget proposal here. I also discuss how the State and local Governments can benefit from Federal funds by expanding upon notedEconomist Paul Krugman here, which discusses how important Comprehensive Planning " at the Local Level can enhance growth and development. I talk about a few of our failures in the American Economy in the Housing Marketand our vast Defense blunders such as still being in Afghanistan even though the major combat operations were called off in 2003 by President Bush andDefense Secretary Rumsfeld as well as offering Peace Solutions in Israel which is the fuel for much of the near ½ trillion dollar Defense spending in the Middle East that is draining Americas blood and treasure.
In my beginning story I described the concept of seashells and beads being converted into the Fiat paper money system; I see seashells and beads as nothing more than a "Gold Standards" that people like Ron Paul and the end the FED movement is pushing. They have no clue that it is not the FED, but the lack of Government management, sound stewardship of money as I mentioned above; however, I will offer my opinion of the lack there of about Ron Paul and I give my dislike opinion of Senator Mitch McConnell (R) from Kentucky, which I feel he and his wife who was the longest serving Labor Secretary in history and lost more jobs in history of America.
While I am at it, I may as wells throw in the Mexican/American border issue in just for good measure. Lastly, since Republican Presidential Candidate Romney is appearing to have lost is mind. He recently is pointing to Russia as the number one threat to America trying to bring back the paranoid policies of the past that brought on the Cold War Arms Race, which was little more than a race with Russia to see who could go broke first. Russia just barely beat us. I feel it appropriate to close by recognizing that I have spent a great deal of time near, and travels through Russia in order to improve relations and I have seen them go through a couple decades of vast economic hardships, and I warned America as did Ross Perot not to take these same paths. Therefore, in order to try to prevent another Cold War I thought I would offer a new race with Russia... "An Education Race"...
Thank you and I hope we begin to get a more constructive government that can care for citizens as they deserve.
"Just another socialist"
- the Ghost of Mises
I have to admit it's a pretty disgusting article , it does provide humor though.