Tuesday, July 5, 2011

A rotten recovery

From what I see, economic recovery was a myth. A carefully crafted fable where "stimulus" was used to mask the stark reality of an economy in shambles.

I concede my assessment draws heavily from observations in one locality. And even in a time of national downturn, some localities are hit harder than others. My benchmark community may have weathered things worse than others.

But now, even on the macro level, others take notice things remain bleak despite a statistical end of recession two years ago.

Back then, big government came forward wtih bold central planning solutions to spur economic rebound. We now see those efforts have failed.

The Wall Street Journal laments with Inside the Disappointing Comeback.

We now muddle forward in what's proclaimed the "worst recovery since the Great Depression."

A chart from the Heritage Foundation shows the abysmal rate at which jobs have recovered compared to past recessions:

Where do we go from here?

It's time to put the nation's financial house in order. And expect individuals to do the same.

Government must forsake its fantasy of spending beyond its means. Real cuts must be made in federal deficits. The most money possible must be left in the hands of the private sector to allow business to operate and expand while incurring the minimum amount of new debt.

Government must also roll back the wave of new regulations that have created uncertainty, forcing many businesses to put off expansion until the rules of doing business become more clear.

These are common sense solutions. And there will be bumps as they're implemented. Enterprises addicted to government subsidies will have to wean themselves from tax-supported cash flow.

But it's time to return more power and means of economic prosperity to the people.

We've endured too many government "solutions" in the past few years. Most hurt more than helped. No surprise really. It's long been known too much government does more harm than good.

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." ~ Thomas Jefferson

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