Three Things the Government Can Do NOW to Save our Economy (and won't cost a cent!)

Whether we like it or not, America is the economic engine that drives the rest of the world. As of late, we have failed in our responsibility. As the country stood on the precipice of economic disaster in 2008, a knee jerk reaction elected a man who has no business sense, no business background, and whose political ideology is rooted in the social justice rhetoric of the 1960’s. Now our credit has been downgraded. The following stock market “correction” is investors voting with their feet, walking away from a deficit that has skyrocketed out of control and is perceived as being beyond repair.

I disagree. With the downgrade in our credit rating, further stimulus is a non starter. On the revenue side, the country needs tax reform, not tax reduction. That makes either of the approaches problematic. But there are three things the government can do that won’t cost us or it one solitary dime, and push the economy into overdrive.

1) Remove restrictions on energy production NOW. Tens of thousands of direct jobs, and hundreds of thousands of indirect support jobs would blossom within months. Drill here. Drill now. It would have the added bonus of driving down gasoline costs, keeping the money here at home instead of being sent to OPEC. This is a no brainer, but Obama’s EPA director said this morning that she is only interested in training for green jobs. Like all others in the Obama administration, the EPA is clueless.

2) Rein in the EPA so manufacturing can experience a rebirth in the country. Speed up the approval process. All permit rejections and/or new regulations must be subject to a test of reasonableness. The loss of tens of thousands of jobs to save some obscure snail is not reasonable. Congress created the EPA, and Congress can limit what it does. Any bets on this one?

3) Repeal Obamacare. It is a disaster. The general public doesn’t know what is going on because it is hidden by an ignorant and/or corrupt press. Obama has given compliance exemptions to all of his cronies, but not to the average small businessman, and not to you and to me. As business find out what’s in this monstrosity, many are making decisions to eliminate health care as a benefit and pay a penalty, or simply close up shop. THERE IS NO FREE RIDE. Obama lied to the public as to what this bill does, and he will continue to lie until it is operational and bankrupting businesses and the nation. Eliminating Obamacare has a shot. The Supreme Court will take it up this fall with a ruling expected as to its constitutionality next spring or summer ( I believe they will kill it). The debt commission this fall may address many of the more offensive parts of the bill. And if the Republicans take the Senate and the Presidency in 2012…bye bye bye Obamacare in 2013.

These three things will add nothing to the national debt, and stimulate in business in ways that will bring a windfall into the US Treasury. If you want to give them a steroid boost, eliminate the capital gains tax and the money will rush into this country like water through a broken dam. Capital always finds the easy sweet spot.

But that assumes Obama will finally figure out his whack job Keynesian economics didn’t work. And if you believe he is capable of doing that, would you be interested in a bridge in Brooklyn?