A Quote by Glenn Hubbard
In response to the recession, the Obama administration chose to emphasize costly, short-term fixes - ineffective stimulus programs, myriad housing programs that went nowhere, and a rush to invest in 'green' companies. As a consequence, uncertainty over policy - particularly over tax and regulatory policy - slowed the recovery.
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And, frankly, what happens out of Washington is, it creates a wind in my face, uncertainty over Obamacare, uncertainty over their tax policy, uncertainty over the regulatory policy.
I think the ethos for Gov. Romney is to use a whole variety of policies, of which tax policy is one, to try to raise the rate of growth. We've had a recovery from the financial crisis that would be well below what one might normally expect for a recovery from such a deep recession. And to counteract that we need better tax policy.
The policy of the Obama administration is to employ regulatory strangulation to drive up the price of energy. This must be exposed and opposed for what it is: a policy of forced economic contraction.
The decision over Heathrow expansion exemplifies the style of policy-making that starts with capitulation to a powerful self-interested lobby, blatantly fixes a public consultation and then drives through a policy that destroys any vestiges of green credentials the government had left.
The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the past three years, and the consensus outlook appears no better for the year ahead.
Indigenous programs and policy will come within the Department of Prime Minister and Cabinet because Indigenous policy and programs should not be an add - on, they should not be an afterthought, but they should be at the heart of a good Australian Government.
In my view, until the U.S. tax policy is revised, not just tax extenders but the reform of tax policy, it makes it very attractive for us to invest on acquisition overseas.
What I think people should realize is that programs like Social Security, programs like Medicare, programs like the Veterans Administration, programs like your local park and your local library - those are, if you like, socialist programs; they're run by [and] for the public, not to make money. I think in many ways we should expand that concept so that the American people can enjoy the same benefits that people all over the world are currently enjoying.
What you do on immigration policy, what you do on education policy, what you do on tax, regulatory, and energy policy, all connects together - and will be based on a simple determination about what will make life better in America for American citizens.
[T]he vast regulatory structure the federal government has erected in the name of the commerce power cannot be ended overnight, in many cases, but the pretense that such programs are constitutional can be ended, even as the programs themselves are phased out over time.
There are tribes, I should say nations, which prior to the AIM movement had only ten or fifteen employees, and now have upwards of 2000. There are educational programs that didn't exist before, there are housing programs, health programs, senior citizen programs, cultural programs and the list goes on. It's all because some people stood up and said sovereignty is our right by treaty and the constitution says treaty law is the supreme law of the land.
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
Britain can choose, as others are, short term fixes and more stimulus. Or we can lead the world with long-term solutions to long-term problems.
Nearly every policy during the Obama years was anti-growth: tax increases; minimum-wage hikes; ObamaCare; Dodd-Frank regulations; massive debt spending; the Paris climate change accord; an EPA assault against American energy; massive expansions of food-stamps programs and more.
Stimulus spending, permanent bailouts, government takeovers, and federal mandates have all failed our nation. America's employers are afraid to invest in an economy racked with uncertainty over what Washington's next set of rules, regulations, mandates, and tax hikes will look like.
Unlike most government programs, Social Security and, in part, Medicare are funded by payroll taxes dedicated specifically to them. Some of the tax revenue pays for current benefits; anything that's left over goes into trust funds for the future. The programs were designed this way for political reasons.
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