When It Comes to Economic Policy, the Future Ain’t What It Used to Be

By: July 09, 2011

We can do better than the supposed “Grand Deal” that’s in the works for increasing the debt ceiling. But we will only do so if the Republican Majority in the House of Representatives realizes that it is in a position of strength and the President is not.

The President needs something that will produce a meaningful increase in jobs, reduce the nation’s unemployment rate, and reduce the price at the gas pump for American consumers. House Republicans need to wake up and recognize that fundamental truth.

The Republican Majority in the House of Representatives can lead the way and demand the following in return for the President’s requested debt ceiling increase :

1. Lower the Corporate tax rate to 20 % to help American businesses to invest more capital and add real new jobs to our economy. Even former President Clinton has been quoted as advocating a reduction of the corporate tax rate to about 25 % .

2. Get the Canadian Keystone XL pipeline project past the ridiculous EPA regulatory roadblock currently holding it up. When this project becomes operational  valuable bitumen can be delivered from the Alberta Province tar sands of Canada to American refineries , adding an estimated 120,000 new American jobs in the process. The resultant increase in our nation’s domestic oil supply will help to lower the price of gasoline.

3. Reduce Federal Government spending to 20 % of the nations’ GDP, down from the current year’s 25%.

The hard core conservatives in Congress  may be overly focused on reduction in Federal Government spending. Republican Senators such as Jim DeMint and Olympia Snowe argued in a recent Wall Street Journal Column in support of a formal Balanced Budget Amendment. I believe they really do not “get it” yet.  American consumers and unemployed Americans need immediate relief on items that affect their daily lives. Balanced Budget Amendments might make for good political headlines but really do not do a thing for the average American’s daily life right now

There’s nothing wrong with the goal of balancing the budget. However, conservatives in Congress should keep their eyes on the bigger picture and seize this moment of political opportunity to achieve additional important objectives for our economy and the average daily citizen’s pocketbook. Focus on what takes to produce new jobs. Attack the number one nemesis affecting American consumers today : the price of gas to fill up the tanks of their vehicles.

I encourage Voices of the Tea Party to publish an e-book that describes the real short term policies that can immediately improve our economy, reduce unemployment , and reduce the federal government’s role in our daily economy.  Plans that fix problems ten years out are of little interest to me.  As that great philosopher Yogi Berra once said, “the future ain’t what it used to be.”

Quincy Williams is a tea party supporter who works for local government in a Blue State.

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