Saturday, February 1, 2014

4% GDP Growth - Jobs, Jobs, Jobs

Socialist President Pinocchio Obama is running around the country talking about income inequality and helping the Middle Class when in fact his economic policy has negatively impacted everyone who works for a living.  The facts are simple.  The Obama Recession technically lasted from 2007 - 2009; but not really.  In most years after Recessions, the economy grows by 4% or more a year; but not during the Obama Presidency.   Obama's Socialists Schemes, higher taxes and more regulations have all been job killers, so much so that we have averaged 2% GDP Growth since 2009, not nearly enough to deal with real unemployment.  The rich have gotten richer because companies have cut costs so Wall Street is doing fine and property values are starting to rebound.  But the poor have gotten poorer and so the poverty rate is now higher than three decades ago.  And, the Middle Class is earning about $5,000 less in real terms since Obama was elected.  Thank You Mr. President. 

We need 4% GDP growth every year to deal with both income inequality and raising wages for Middle Class families.  It will not happen any other way despite what you hear from Socialist politicians.   In the June 10, 2013 edition of Forbes magazine, in an article written by Rich Karlgaard, he called it right.   We can achieve 4% GDP growth if we implement a lower, flatter and simpler tax  system, including corporate tax reform, to keep more jobs in the US.  We need sensible regulations that set the rules of the road; but don't stifle job creation.  It is time for Entitlement Reform to save Social Security and Medicare from going bankrupt.  And, we need real health care reform that brings down the cost of health care.  This means repealing ObamaCare.   Finally, this Blogger would add an all of the above Energy Plan that makes the US energy independent within 10 years and meaningful Immigration Reform. 

Most of these things will happen as long as Socialists control any branch of government.  No matter what Socialists say, we cannot deal with income inequality, or helping the Middle Class as long as they continue to borrow, tax and spend to expand the federal government through deficit spending.  In fact, we need to cut federal government spending to free up resources to grow the private sector where real jobs happen.  Federal government spending is about where it was during World War II at about 25% of GDP.  It should be around 17 or 18% of GDP because government does not use our money more wisely or efficiently than we can use it ourselves.   The waste, fraud and abuse in federal government spending is just money down a rat hole. 

We can grow GDP by 4% or more a year; but government has to get out of the way.   That means electing Common Sense Conservatives in 2014 and 2016 that support free market capitalism, limited government, lower taxes and less regulations.  We have to create good paying jobs to deal with income inequality and to build a thriving Middle Class.  It will not happen any other way.   Obama's Socialist Economic Schemes are job killers.   Cards talk and numbers don't lie. The numbers since Obama took office have been dismal. 

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