A Quote by John Fleming
I have never believed in the fallacy that the federal government can buy its way out of economic troubles through needless spending. For that reason, I am proud to oppose 'stimulus' packages and endless corporate bailouts, which will do little but weaken the long-term integrity of the American economy.
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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.
Trillions of dollars are being spent in the name of 'saving' the economy: bailouts, 'stimulus,' omnibus spending bills, budgets, government takeovers of the auto, health care and energy industries, all of which require ever more spending.
Conservatives in general, and even so called Tea Party conservatives, are not against transportation spending. Indeed, interstate commerce is one purpose of interstate highways and byways, and is one of the things the federal government is actually supposed to spend our tax dollars on. What conservatives are opposed to is needless and excessive spending, pork-barrel spending, deficit spending, spending to pick winners and losers among American individuals and corporations, and spending to promote the social and economic whims of the Washington few.
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work.
We have in this country a federal government that increasingly is engaged in trying to determine which business, which regions, which industries will succeed, which will not through a whole range of economic development, regional development corporate subsidization programs.
Cutting government spending and government intrusion in the economy will almost surely involve immediate gain for the many, short-term pain for the few, and long-term gain for all.
There is a clear and strong link between the economy's present woes and the Iraq war. The war was at least one of the factors contributing to rising oil prices - which meant Americans were spending money on imported oil, rather than on things that would stimulate the american economy. Hiring Nepalese contractors in Iraq, moreover, doesn't stimulate the American economy in the way that building a school in America would do - and obviously doesn't have the long term benefits.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
Government is taking 40 percent of the GDP. And that's at the state, local and federal level. President Obama has taken government spending at the federal level from 20 percent to 25 percent. Look, at some point, you cease being a free economy, and you become a government economy. And we've got to stop that.
The Federal Reserve and Congress have systematically taught the American people to trust the government and that caution in spending is harmful to the economy.
In searching for a way out of my own troubles, I had found my way into the troubles of others, some long gone, and now I was trying to find my way back out, through their troubles, as if we human beings can ever learn from one another.
Actually, I have been very supportive of a very robust stimulus package from day one. I think this economy has to have a major stimulus initiative because the only group with liquidity is the federal government.
Every dollar of SNAP benefits generates $1.84 in the economy in terms of economic activity. If people are able to buy a little more in the grocery store, someone has to stock it, package it, shelve it, process it, ship it. All of those are jobs. It's the most direct stimulus you can get in the economy during these tough times.
Until the 1930s, the Constitution served as a major constraint on federal economic interventionism. The government's powers were understood to be just as the framers intended: few and explicitly enumerated in our founding document and its amendments. Search the Constitution as long as you like, and you will find no specific authority conveyed for the government to spend money on global-warming research, urban mass transit, food stamps, unemployment insurance, Medicaid, or countless other items in the stimulus package and, even without it, in the regular federal budget.
In the real world, banks hang onto their money for fear of making bad loans, no matter how many bailouts or stimulus packages Washington passes.
All we're getting from the Democratic majority in Congress and from this White House is more bailouts, more spending, more planned stimulus, more deficits and debt, and the American people have had it.
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