If you’re one of those who believes all the government “experts” and politicians touting the bailouts and stimulus packages, you can learn something from this lecture by Sen. Fred Thompson.
If you’re like me and already believe the current and soon-to-be administrations’ policies are going to leave our children with a crushing debt that will be impossible for them to repay, you’ll enjoy the wit and sarcasm Thompson uses to present our argument.
The video is more than 8 minutes long, so you may want to let it load then come back and replay it. But it’s well worth the wait. Enjoy.
The only thing that’s ever going to get our economy back on track is for Americans to once again embrace the idea of personal responsibility. If you screw up, you suffer the consequences.
To hear the politicians today, you’d think there’s chaos in the streets and people dropping dead like flies in a fumigated apartment.
If we’ll learn from the mistakes that brought us to this point, and commit ourselves to not repeating them, our economy will come back stronger than ever. There’s no doubt it’s going to be painful for some, especially those who’ve grown accustomed to spending more than they earn. But if we choose this path, our economy will be fundamentally sound, not a castle built on sand.
It’s really simple. We either bear this burden now, or we push it down the road for our children to inherit. Then the problem will be many times worse than it is.
Do we want our children to inherit an economy that can be toppled by the slightest breeze? Or, do we want to leave them a solid foundation on which to build their future?
[...] does a great job explaining why this plan-to-save-us-from-certain-death is fundamentally flawed here. And you can see another great explanation of the fallacy of Keynesian economics from Dan [...]
1) Taxpayers’ Bill of Rights (TABOR). Limit federal spending growth to the percentage in population growth plus the rate of inflation; provide taxpayers the option of filing a post-card sized return using a low, flat tax rate of 15%
2) End Tax-funded abortions. Stop federal payments to Planned Parenthood and prohibit any taxpayer-subsidized health insurance plan from covering abortion
3) Defend American Borders. Complete America’s border-protection initiatives using remaining funds from the so-called stimulus bill
4) King Dollar. Preserve a strong dollar so that Americans’ savings aren’t wiped out by inflation and the U.S. dollar remains the world’s reserve currency
5) Empower American Business. Immediately slash corporate tax rates to 15% and scrap the capital-gains tax altogether
6) Defend America. Strengthen America to defend our homeland and fully fund an operational, layered missile-defense system
7) Statism Exit Plan. De-fund czars; immediately cease bailout payments to failed companies; ban future bailouts
8)End Generational Theft. As few believe America’s entitlement programs will be able to pay benefits to future generations, provide younger workers the choice of diverting payroll/Social Security taxes into personal retirement accounts
9) Restore America’s System of Justice. Introduce penalties for frivolous lawsuits, where those who launch unsuccessful lawsuits are liable for the defendants’ legal bills
10) American Energy Independence. All-of-the-Above strategy that embraces alternatives, expands and accelerates exploration and production of oil and natural gas, and jumpstarts dramatic increases in nuclear power
[...] does a great job explaining why this plan-to-save-us-from-certain-death is fundamentally flawed here. And you can see another great explanation of the fallacy of Keynesian economics from Dan [...]
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