Posted by Tina
Several people have predicted a W shaped recovery, now the President seems to be signaling it is likely. I hate to think what that means in terms of getting people back to work.
President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession. With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction. ** “It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said. – ABC
A few suggestions Mr. President: 1. Adding massive government programs like health care will only add to the debt. 2. Expanding the number of employees in government does nothing to stimulate the overall economy and adds to the need for revenue. 3. High tax rates will depress economic growth and, therefore, revenues to government. 4 Let the private sector work.
Your determination to root out fraud and waste and eliminate them is admirable and will do a lot to make government more efficient and accountable. Limited, efficient government with regulatory agencies that do their jobs properly will get this country back on a more responsible track but if you want to grow the economy you must give power back to the people.