Last week, I discussed how our economy has become over-regulated. The recent actions of the EPA and the Obama Administration provide a prime example of the seriousness of this problem. They also highlight a disturbing trend of how this Administration operates.
As the Dow plummets today, it is worth taking a moment to look at the bigger picture. While today's crisis is related to the situation in Europe and the inept management of the Federal Reserve, the real problems in our economy go much deeper. Our real problems are not due to a lack of stimulus or over-taxation. They are due to over-regulation.
I never intended to seek public office.
But the exceptional thing about America is that it offers ordinary people like my wife Julie and me extraordinary opportunities to pursue careers, interests, and ministries that enable us to serve others. These opportunities are made possible by the economic and spiritual freedoms enshrined in our Constitution.
The National Labor Relations Board (NLRB) is trying to prevent Boeing from moving some of its operations from union-controlled Washington State to right-to-work South Carolina – solely to protect union workers! In response, Tim Scott (R-SC) has introduced a bill (HR 2587) that would prevent the NLRB from interfering with the rights of firms to decide where they locate their operations. This bill is about to come to the floor and I encourage you to contact your representative to support this bill.
On this 10th anniversary of the 9/11 attacks, I encourage everyone to consider the lessons of 9/11 and the sacrifices made by so many in our country.
I agree with Congressman Gerry Connolly (D - VA) when he says, “it’s time we focused on proven policies, rather than political posturing.”
The only problem is that President Obama’s "jobs" speech last night did the opposite – it rehashed failed ideas from the tragically ineffective “Stimulus Bill” and trotted them out as new in a political campaign speech to a joint session of Congress.
Several stories over the past week demonstrate how over-regulated our economy is, due to actions taken by the federal government. The result is a totally unacceptable 9.1% national unemployment rate, as compliance with burgeoning regulations drives up business costs, increases the risk to capital, and decreases private sector expansion and hiring.
Over the last three years, we have borrowed roughly $32,000 per taxpayer. We were told that this would “stimulate” the economy, with the White House promising that national unemployment would not reach more than 8 percent – instead we are now at 9.1 percent unemployment. The result is that we now have an additional 12 million people out of work and we are now on the brink of a double-dip recession. The simple fact is both TARP and the Stimulus failed and while Wall Street profited, Main Street suffered and the American taxpayer was left holding the bill.
The debate over raising the debt ceiling has been filled with many false accusations. I thought I’d correct the record on some key points.
President Obama would have you believe that the Republicans are putting America’s credit rating at risk by their refusal to agree to a raise in the debt ceiling without real spending cuts. Nothing could be further from the truth. Our credit is at risk already due to overspending.