Jamie Radtke’s statement regarding President Obama’s “jobs speech”
President Obama’s speech proves one fact: He doesn’t understand how to get government out of the way of job creators. So he’s trying the same old approach that he already tried and that already failed and is just putting a new spin on it. He’s chasing the wrong rabbit.
There will be no real improvement in our economy until we adopt a credible, bold, long-term plan to reduce the debt and stop the insane spending. Every dollar the federal government spends is one less dollar in our wallets. Unfortunately most politicians in Washington suffer from collective denial on this matter.
Another ‘Stimulus Plan’ may sound good to the Keynesian liberals, but spending more money is going to drown our economy in an ocean of debt. It says to businessmen, entrepreneurs, investors and the world markets that President Obama does not understand how to solve the most critical problem facing the economy. Another massive ‘Obama Stimulus Plan’ will leave our economy in a deeper hole. To create jobs we need a bold, long-term plan to cut spending and a plan to overhaul our tax policy so that we can restore confidence and stability in our market again.
The best and perhaps only effective jobs program is one that enacts a Fair Tax policy and reduces our national debt to 40%-50% of GDP from its current level of 100% of GDP.
A combined commitment to the 40%-50% debt-to-GDP target and a Fair Tax policy would immediately jolt the economy. We would:
- Bring back to the U.S. approximately $13 trillion dollars of capital that has fled overseas;
- Give U.S. banks the ability to extend credit to job-creators in a way that the Fed is incapable of doing;
- Preserve the dollar as the world’s reserve currency (and the advantages that status brings);
- Level the playing field with China and other countries; and,
- Stimulate private investment and the creation of new jobs as no stimulus program could.
Instead of bold action, we seem to be falling into the same old Washington way of dealing with economic crises — changing the subject, or passing the buck to another “commission” or “super-committee,” and pretending we can continue to put off hard decisions. That is what got us a $14.6 trillion national debt and more than 9% unemployment. We’ve had enough pandering and denial and we certainly don’t need half measures that suck money out of the private sector and into government. It’s time for bold leadership, and that is what I will bring to the United States Senate, and in support of the next Republican President of the United States in 2012.
(Jamie Radtke is a candidate in the 2012 republican primary for US Senate in VA and prior President of the Richmond Tea Party)