Wednesday, January 27, 2010

Economic Recovery. Is It Posible Under Obama-Pelosi-Reid?

We need some straight talk from Obama, with clear ready to implement solutions.

These are not new ideas and are so simple.

All but the Left have the common sense to know that they will work.

1. Drop ObamaCare, country cannot afford it; if anything, replace it with free-market based health reforms on tax deductions for individuals, rate competition across state lines, tort reform and pools for truly uninsured citizens not covered by Medicare or Medicaid.
2. Pledge to maintain Bush tax cuts on income tax rate, capital gains and dividends rates instead of letting them expire and increase significantly.
3. New tax breaks for small businesses and for investment in R&D and in equipment for manufacturing.
4. Take all returned TARP money out of circulation to reduce national debt.
5. Take all unspent Stimulus funds and use to reduce national debt.
6. Put strict restraints on Fannie Mae and Freddie Mac that now have open-ended pipeline for further losses and lose many billions each month. No more propping up cheap loans and loans to those who are high risk. Regulations that were needed in 1990 need to be passed.
7. No more bailouts. No more "too big to fail". Propping up dysfunctional institutions is a sure prescription for further failure and more government deficit spending.
8. Stop the "Second Stimulus" bill that has already passed the House.
9. Cancel "green jobs" that require the government to heavily subsidize these non-competitive alternative energy sources.
10. Immediately start to develop and make more use of domestic energy sources, off shore drilling, ANWAR oil, natural gas, cleaner coal, nuclear.
11. Extend the inheritance tax exemption at the 2009 level or higher to encourage savings and then investment.
12. Finally, live up to the pledge of no more earmarks (pork). this will be big battle with congress and the likes of Pelosi, Reid, Schumer, and many more of both parties.
13. Actually stop illegal immigration to keep jobs for U.S, citizens and deport all illegal aliens who commit crimes or who do not have jobs.
14. Drop Cap and Trade plan and drop EPA reclassification of carbon-dioxide as a pollutant; this sends jobs overseas. Pay attention to all the scandals around man-made global warming hoax.

Will we get an agenda like this from Obama and the Democrats? Very unlikely. It will likely be more smoke and mirrors, blaming others, and vague promises of fighting for the people (but not doing anything specific) that will get caught up in the Washington bureaucracy and scramble for local pork advantages, so if anything, too little too late gets implemented.

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