We are a nation scared. We're scared of losing our jobs. We're scared of a monster deficit that keeps growing. We're scared of losing our doctors, thanks to a health care law that most Americans still don't want. And we're scared that our sons may be killed in a war that we're not sure this Administration wants to.win.
All this fear isn't natural for us. America's not used to running scared. Our natural state is as a proud nation with a strong economy. Sure, we go through tough patches. But we usually pop back pretty quickly.
This time, we've been scared, mostly about jobs, for too long. We're told that's because this is a financial recession, and that's a lot tougher to fix. But Scoreboard doesn't buy that. We think it's simpler than that. We're just not doing the right things to get us out of this mess. You don't grow businesses and create jobs by doubling the size of government. One of the dumbest things ever uttered about the economy came from Nancy Pelosi a while back, talking about the deficits that are killing our economy:
"Our deficit was caused by giving tax cuts to the wealthiest people in America."
This is utter nonsense. Tax cuts never cause deficits. Deficits come from government spending too much money. And that's what's happening now.
The private sector's getting squeezed out by the public sector, and the government wants to squeeze them some more with new taxes. No one will hire more workers with higher taxes on the way. If we want more jobs, the public sector needs to pull back and give the private sector more room to grow.
The sub shop owner who met the president this week complained that his health premiums have gone up 35% since the new heath care law was passed. "That's okay," said the president. "Uncle Sam will now pick up 35% of your premiums." But that's playing catch up. The best the president can offer a small businessman worried about costs is more paperwork to get a little rebate?
What happens if premiums go up more than 35%? No wonder businesses aren't hiring! You can't hire in a market where rules are constantly changing, and they’re made by folks who don't understand the market. If the government raises taxes...any taxes...our 9.5% unemployment rate won't move anywhere but up.
The unemployment figure is one stat that the government can't fudge. nickel and dime tax credits won't cut it. "Talk" about "saving and creating" jobs won't cut it. If they want to move that unemployment needle in a positive direction, if they want to cut the "fear factor" that's holding back this recovery, they're going to have to reassure the nation that taxes won't be raised...period! They're going to have to live with the Bush tax cuts for at least another year. When folks are scared, they need to be reassured by actions, not words.