It’s been a subpar recovery, and that shouldn’t be unexpected. I’ve been predicting this since early 2009. Fiscal and financial policy levers supposedly have been set to a stimulus for over two years now, but policymakers never really grasped what they were doing. Monetary “stimulus” which involves very low short-term rates of interest and a lot of bond purchases can’t create growth out of thin air.
Fiscal “stimulus” that involve massive borrowings to invest in huge transfer payments, make-work projects, and subsidize state and local budgets also can’t creating growth out of thin air. Printing money, earning money cheap, borrowing to force-feed spending-it’s all fitness in futility and ultimately counterproductive. Growth only comes when money is spent on things that boost the efficiency of labor.
Our quality lifestyle rises only if our collective attempts lead to more outputs for the confirmed number of hours of work. The government has a dismal record when it comes to making effective investments, because the incentives aren’t aligned properly; the profit motive is missing. Force-feeding money to the economy only leads to more speculative activity, since it’s simpler to bet on increasing gold and item prices than it is to risk setting up a new company and hiring new people.
Soaring deficits don’t create new demand, they only create worries of huge future taxes hikes and that dampens pet spirits today. What has been attempting to create growth is the inherent dynamism of the U.S. Businesses have been occupied restructuring, laying off nonessential workers, slicing costs, and enhancing their profits.
The economy has shifted massive amounts of resources from the troubled financial, housing, and construction sectors, and into the up-and-coming mining, technology, and developing sectors. The economy is growing regardless of the best initiatives of politicians to generate growth. Financial marketplaces have recovered not because the overall economy is in great shape, today than marketplaces feared but because the overall economy is much better. Fortunately, that the data of stimulus failure is plain to see, and the mountain of debt it created is a lasting monument and a lesson to all or any.
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Congress has shifted its efforts 180º: no longer is the controversy about how much to spend on a stimulus, but how much spending to cut. We really can’t keep on the path of the previous few years, and that is clearly a great comfort. We haven’t yet determined which way to take going forward but by learning from your errors someone in Congress or the White House will number it out. When somebody does, the magic formula will almost surely contain cuts to wasteful spending and transfer payments, market-based reforms to healthcare, and lower and flatter tax rates coupled with tax-base-broadening reductions in deductions that will truly stimulate growth.
There are many pro-life celebrities who are more celebrity than pro-life. As I said before, pro-life laws and regulations without exceptions can be transferred. And more specifically, past due term pro-life laws without exceptions can complete. Polls show that most Americans, even those who identify as pro-choice, believe there must be limitations to late-term abortions. Go and read that last sentence again back again.
Why do pro-life organizations keep pushing the idea that laws and regulations without exceptions are unavoidable? You can’t declare to believe all life is similarly valuable, but it’s ok to kill any certain demographic for expediency ‘s sake. Not only is this incredibly biased against the targeted demographic, but it offers ammunition to the pro-choice crowd. Our views regarding the humanity of a pre-born child are seen as inconsistent or emotion-based.
This is merely a matter of viewing one individual as having more value than another. Of informing one group: “you are not well worth fighting for, because somehow you are less-than”. We are essentially saying that the right of the “typical” fetus to be transported to term overrides the right of the “defective” fetus to be carried to term. How is this pro-life again?