MAMEWorld Forums - The Loony Bin - Re: today's gonna be rough -nt

> Right. No one said the cuts won't have a near-term pain. But we need to shrink
> government, get society OFF the government doles and into a private sector economy
> again. As it is 70% yes 70% of Americans depend on the government for their
> livelihood, be it government jobs, pensions, welfare or what have you. It's the
> largest government sector employment/support of American society EVER. That means
> only 30% of society is actually in employment which contributes to the GNP... unless
> your take your argument all the way out and prefer that we are a socialist society
> where the government is the source of all industry and jobs.
>
>
> Ronald Regan spent a trillion dollars in a stimulus package when he took office
> during a recession too. Except he didn't rely on Government to make jobs, he relied
> on the Private Industry. He did things to help private sector growth... cut taxes
> from a top bracket of 70% down to 30%, cut corporate taxes, cut government regulation
> and bureaucracy... gave free enterprise the freedom to breath and flourish.
>
> 2 years later America had a legendary great period of productivity and prosperity.
>
> 2 years later Obama has us on the brink of disaster, high employment, a weak dollar,
> a credit problem, and the trend is spiraling downward like a toilet in mid-flush.
>
> Whats the difference? The government doesn't produce anything. Government just
> consumes, and extremely inefficiently at that. Growing the government to "create
> jobs" is a house of cards supported by a smaller and smaller productive slice of
> society who pays for it all in taxes. Private industry makes things...
> productivity... contribution to the GNP... what a free-enterprise (not a federal or
> socialist) economy runs on. We currently have the largest corporate tax rate in the
> world... massive expensive bureaucracies up the wazoo, crippling requirements on
> business, entitlement programs already past unsustainable, all of which is crushing
> free enterprise, and no plan to change the trajectory until it implodes... some argue
> it IS imploding.

I'm all_in on the idea that government isn't run correctly, inefficient, under productive, etc. However, you ~can't~ compare Regan and Obama here. Regan had a situation that was fixable. Any president elected in '08 was walking into an economic death sentence.

One might even argue that the tax breaks and deregulation of the Regan era were the seeds of our current issue.

Anyone not blinded by all the other government issues in the last 10 years has seen this coming. And it's going to get worse, might not get better anytime soon.