Romney Rejects Status Quo

October 10, 2012

Romney Rejects Status Quo  –  Published first at Illinois Review

By Nancy Thorner and Ed Ingold – 

How do Republicans propose to reject Obama’s status quo? By getting government out of the way! In a recent poll, 55% of small business owners say they would not be able to start over in the current regulatory environment, mainly the EPA and various financial regulatory agencies.

Republicans are said to want “dirty air and dirty water”…That Republicans want to return to the financial looseness that caused the recession.

That’s laughable! The Republicans want to eliminate excessive regulation, which is destined to cause another recession. The U.S. economy that grew at an annual rate of just 1.5 percent from April through June of this year. GDP growth at or below 2 percent isn’t high enough to lower the unemployment rate, and an healthy economy would grow at 2.5% or more.  Most economists don’t expect GDP growth to pick up much in the second half of this year. China, for example, saw their annual growth rate fall below 7.5% for the first time in ten years, and are actively trying to reverse this trend.

For the record, the U.S. economy has never been so sluggish this long into a recovery.  The Great Recession officially ended in June of 2009, yet Obama keeps blaming Bush for having prevented a recovery from happening, when his policies are to blame.  Obama keeps forgetting that he was president during the last four years!

This nation is at a point where small improvements to the environment, real or imagined, are achieved at exponentially increasing cost. We have reached a point where one lawnmower or outboard boat motor emits more pollution than a dozen automobiles. Lawnmowers have improved, but so have cars improved a LOT.

Yet under a second Obama administration fossil fuels (oil, coal, and gas) and nuclear power would continue to be frowned upon and maligned, even though they are viable sources of energy with plentiful supplies found within the U.S. The Republicans want to continue our record breaking production of natural gas, build the Keystone pipeline and take advantage of the vast Canadian oil supplies, and resume oil exploration and production in our coastal waters. It is possible to do all these things and preserve the environment. The Republicans see problems as opportunities, not excuses for fear and inaction.

For Democrats, in their flawed and unscientific status quo mentality, choose to believe that renewable energy (green) sources will save the planet from heating up and self-destructing.  It matter not to die-hart environmentalists and most Democrats that nuclear is green, cheap and clean and gives the biggest bang for the buck in the long run. Worse yet, they feel the only way to promote “green energy” is to make traditional forms of energy more expensive through taxes or over regulation.

We legislate to reduce emissions below levels of detectability, but the means of detection have improved a lot faster than the means of mitigation. Detection is like a new word (or new car) – once you have one, you hear (or see) one everywhere. We continue to confuse equal opportunity with equal status or equal ability, and legislate to reduce those perceived inequalities.

We have hired nearly 250,000 new federal employees since 2008 to look over us. Like most people, they want to do the best job possible, even if that job is looking for trouble where none existed before. There is no problem that new legislation or rules (or litigation) won’t solve. To heck with engineering.  Status quo in the last four years called for larger government as a means to economic recovery.

According to Democrats, the financial crisis of 2007 was due to excessive risk taking by financial institutions. In fact, the main cause was the collapse of the housing market, due in large part to legislation in the Clinton administration, to encourage home ownership as a form of “equal opportunity,” in effect a new status quo.

As a consequence, mortgages were issued to people with limited ability to pay, especially once attractive “starter” rates lapsed. This is better described as “assigned risk”, through various acts of Congress, than “assumed risk” through poor judgment of financial managers. With easy money (widely denounced by financial professionals), came inflation in the form of a housing “bubble” When the bubble burst in 2008, easy money dried up, not just for homeowners, but for businesses which needed money for lines of credit and growth. In business, if you don’t grow, you die.

Meanwhile, the Federal Reserve, under Ben Bernanke, is attempting to prop up the economic status quo by printing money to pay for money Congress “borrows” to spend our way to prosperity. Somehow we go along with this, as though dollars had some intrinsic value apart from the goods and services they represent.

The immediate effect is inflation, seen in the sudden rise in stock prices and the price of gold. The White House points to this as a sign of recovery, but it is really movement of money away from government bonds to some form of equity. The glow won’t last, unfortunately, because the cost of raw materials and labor will rise even faster. Inflation? What nonsense!

Knowing the difference between what is good and bad status quo in this election will determine this nations economic prosperity for years to come.  Four more years of Obama’s failed policies, in what would be a continuation of the status quo of the last four years, will only increase the pain and anguish felt by many Americans.  At the end of the four years this nation would emerge as a shadow of itself.  What has been set in place by a second Obama administration would be too far gone to reverse.

Those who insist in believing that Obama is the one to vote for, should follow the advise of one, JF Kennedy, who in his Inaugural Address on January 20, 1961 said:

“And so, my fellow Americans: ask not what your country can do for you — ask what you can do for your country.  My fellow citizens of the world: ask not what America will do for you, but what together we can do for the freedom of man.”

Too many Americans have forgotten JF Kennedy’s words.  Hopefully there are enough Americans who do remember and who will elect to turn away from the failed status quo under Obama on Nov. 3rd and vote for Mitt Romney.

Tuesday, October 09, 2012 at 09:02 AM | Permalink

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