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GOP Fiscal Responsibility
The Republicans have run campaigns for decades on their policies of small government and fiscal responsibility, yet the White House reported today that the Bush Administration is leaving a budget deficit of almost a half a trillion dollars in red ink for the next President who takes office in January of 2009. There are a lot of factors involved here, but could it have anything at all to do with Bush’s 10 year, 1.35 trillion dollars in tax cuts, with the majority of those cuts going towards the benefit of America’s richest citizens and the companies they run? The theory is supposed to be that as the burden of tax is lifted from Corporate America, companies will thrive with higher profits, a new wave of jobs will be created, and everyone from the top-level executives to the lowest workers on the totem pole will make more money. That rise in discretionary income will enable private citizens to buy more goods and seek out the American Dream of owning their own home, children will reap the benefits of getting a better education, and that next generation of well-educated young Americans will take the reins, and drive this country to a new golden era of prosperity. Norman Rockwell couldn’t paint a rosier picture of what’s supposed to happen, but somehow it never does, not when Trickle-Down Economics rewards the rich and robs from the poor. The Bush Administration’s policies have taken the budget surplus they inherited from the Clinton Administration and turned it into one of the highest budget deficits in this country’s history. It is the highest number in dollars ever reached. It is not the highest when viewed as a percentage of the overall economy, which is one small consolation in the ever increasingly grim economic news. Since 2003, Americans have lost 2.4% of the total jobs that existed in this country. This sounds minimal, but that calculates to 24,000 jobs lost for every million jobs that existed. It’s not at all minimal to the hundreds of thousands of people who make up the almost 5% of the American workforce who are currently unemployed. Massive layoffs by America’s corporate giants are announced on an almost daily basis, while at the same time, their top executives are making record profits. Over the last year (June 2007 – June 2008), the Consumer Price Index has seen food prices raised by 5.2%, transportation costs raised 12%, and energy costs raised by a whopping 24.7%. Add to that the fact that home foreclosures are rising at alarming double-digit rates with over 200,000 foreclosures reported for the month of April alone, that’s more than 60% higher than April 2007. Banks are failing left and right, and even the stalwart Fannie Mae and Freddie Mac would have probably failed soon as well, if Congress hadn’t passed the government bailout charged to taxpayers, which will hopefully stave off a total collapse of the mortgage and banking system. But still the Republican Party platform beats the drum of tax cuts, and eliminating spending on entitlement programs that are most needed by the country’s poorest citizens, the elderly, the disabled and children. John McCain calls Social Security a "disgrace", and has made his top priority “winning” the war in Iraq. If only he and his fellow Republicans cared as much about Americans as they do the Iraqis. Since Saddam Hussein was captured, the U.S. has spent an additional $500 billion on the war, and there’s no end in sight, that is if John McCain has his way. Instead of offering fiscal responsibility, national security, and protecting the general welfare of our citizens this Administration has offered tax cuts for the richest Americans, lucrative government contracts to make them richer, decreased the United States’ world esteem and national security, and turned prosperity into a crumbling economy for average Americans. Vote your conscience in November, but don’t be blindsided into ignoring the real issues of this election: More jobs at competitive wages, improved education for children of all races and social standing, improvements to a crumbling infrastructure, decreased dependence on foreign oil, affordable health care, and of course the chance to once again live the American Dream of affordable home ownership. To vote any other way is a disservice to you, your family and friends, and a disservice to your fellow citizens. It's no secret who I'm voting for, and the reasons are clear. The statistics show that 8 years in this direction has already done more than enough damage. But regardless of who you feel is best for the future of this country, make your voice heard. Get out and vote on November 4th. William S. James, Fiscal Patriot |
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