Saturday, July 30, 2011
American Economics according to the left and right, my solution
Left, Right, or Independent, balancing the budget has never been a priority. The financial markets and confidence have diminished as the economy has been shaky and lay offs of USA workers have continued.
The Left has always lived by the motto of raising taxes and spending to support increased social programs to help solve society's issues. This policy worked great when we had economic growth and subsequent high tax revenues. We were able to make historic reductions in the federal deficit during unprecedented economic growth.
The Right has always lived by the motto of lower taxes, lower spending on social programs, but increased spending on defense and the military. This policy works well during economic growth, but seems to do very little to reduce the federal deficit. The posturing and political wrangling has usually resulted in congressional gridlock.
Both ideologies do not work well when we are in an economic recession. The combination of sending USA jobs overseas by many corporatiosn, hand outs and wasteful spending, have caused many hardships for the average American.
Both the Left and Right must move toward the center where we have the correct balance of spending, tax reductions, elimination of hand outs and wasteful spending. It may be time for us to make a run at correcting issues that are important to us. So, who is with me?