Monday, July 8, 2013

My View on the Economy: The Only Way Out

   One side tells us the national debt is so high, it is a matter of high urgency that we do something, that we slash and cut and start paying off the debt.
   The other side tells us that infusing money into the economy is a must, and if we cut spending, the economy will collapse.
    I'm guessing both are right: I'm frightened by our refusal to reverse trend in spending, but I see the wisdom of not cutting how much money is pouring into the economy.
   I see only one way out. We must put people to work, simply must. At this point, I do not know that I mind it being the government that provides the jobs. We are in desperate straits. We have pursued an economy that doesn't foster work, but fosters what we have come to call "entitlement." If our economy is to survive, we must find a way to put people back to work. Must.
   And, in meaningful, productive jobs. If the economy is to prosper, the companies in it must be in the black.
   I would that free enterprise provide the jobs. I believe it we were to call on our rich, asking them to create more jobs, they would.
   But, I fear we might be reaching a point where we cannot wait. It is more important that someone provide the employment, than that there be no employment provided at all, simply because we fear "socialism." Remember the CCC and other such government entities after the Great Depression? Do it all over again, if we must. But do something.
   Infusing money via "stimulus" spending only heightened our precipice. I understand the interest on the national debt has doubled since the year before Obama took office. Doubled. And, it has doubled our jeopardy. Such "rescues" will surely eventually sink us, and the time might come quicker than we'd like to think.
   No, such stimulus spending is like putting a band-aid on a bursting vein, in the long run, or so I fear.
   But, this is reason, to me: There is safety in everyone having a job, a productive job. If everyone is making a dollar, they have money towards buying food and having shelter. Yes, there still might be tough times. But, such an economy cannot totally be a loss. Money being earned by the common man to pay his bills is as much an indicator of a good economy as is S&P's 500.


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