Earl Lofland U.S. Representative Delaware 2010
Present and past Administrations and Congress’s can hold equal entitlement to who is to blame for the current
With the current Congress approving a $787 billion economic stimulus package, Obama praises as saving or
creating about 2 million jobs. And now Obama and Congress open to approving another 100-150 Billion dollar
stimulus bill that is argued to be needed to save or create jobs has American voters wondering, So where are those
jobs? According to the recent reports published by the Bureau of Labor Statistics, unemployment levels in the
private sector continue to rise, while the federal government has created a bigger government, adding more federal
jobs. Something that is constitutionally immoral.
Christina Romer, head the Council of Economic Advisers showed evidence that the past administrations objectives
are the same as this administration; saving or creating bigger government. "I think there's just no way to understate
how huge the economic challenges facing the country have been this past year," "So everything obviously from the
financial crisis, the terrible recession, but the longer-run problems — the stagnating middle-class incomes, soaring
health care costs, the failure to invest in education, innovation, clean energy — we certainly inherited an economy
with a number of economic problems."
The Problem is not the Economy! That is a symptom of the real problem
In a message to Congress, Barack Obama pointed fingers again, at the previous Administration, instead of facing
the fact the same Congress he was a part of is equally to blame for to losing 700,000 jobs each month.
One of the misleading arguments in the recent report from the Whitehouse is the economy is growing. Spinning
misleading information to the American voter, that because the economy is growing, this will result in reducing
unemployment rates. Production of goods has been outsourced to foreign countries. This, combined with an
increase in imported goods, over a demand for exporting goods, creates decreased domestic productivity. And when
the American consumer decides to purchase import goods over domestic products due to cost of these products, it
results in less domestic employment.
Saving economy is not the priority. The poor economy is the symptom. America must increase domestic productivity
and the productivity must be in areas that are in agriculture. We also must reduce the interest and dependency on
foreign goods in energy needs, as well as manufacturing. When reports show an increase in the housing market
there is a false impression being given. The Economy is turning around and Employment is going to decrease. What
is happening though is the housing market is being determined by purchases from people who are not American
Citizens. Americans are not able to purchase homes and some forced into foreclosure where the properties are
purchased by individuals who are not American citizens. This is one of the many problems that must be reversed.
Giving Americans the ability to purchase property and not being forced to borrow for their purchases. reverses high
risks of consumers being unable to pay off their loans. When the United States Government gets out of the
borrowing mode and begins to actually reduce government spending, then Americans will also have the same
Instead of blaming others, there is a greater need to focus on giving Americans more opportunities in owning
property. Combined with other solutions that are proven to reduce unemployment in the private sector within our
borders- Creating Domestic private sector jobs would be what will save the economy. A Strategy decades overdue,
Americans are saving at high rates--in the 4 to 7 percent range, mostly due to risks of becoming unemployed,
causing damage to their credit rating. This is resulting in a slower recovery. However there is another problem. The
differential between the value and cost of products, Americas are borrowing to purchase. It is estimated that 8.4
million net jobs have been lost since December 2007.
The financial institutions are not easing on lending, and this has created elected officials scrambling to seek ways to
get Americans to borrow money again. This is immoral strategies for revitalizing the economy, Passing legislation
that will causes banks to lend more money is not only constitutionally immoral it is allows economic growth to be
misleading, causing a bubble in some sector of the business market. Back in January of 2009, I made a prediction
for the next bubble. It would be in the Insurance Company Sector. And the basis for this is simple. Government
Intervention, and the “Universal Healthcare Plans”- socialized insurance. When the government overstepped its
limitations with AIG, the government decided to bypass bankruptcy regulations- waving the liquidation of its assets.
When Congress and both this and the past administration decided to take this course, it exposed, the potential fraud
elected official were accomplice before the facts were involved in with the Federal Reserve.
Today Individuals are being forced to borrow from banks, resulting in being forced to pay far more than the value of
the products they purchase. This creates a risk for businesses as well as the consumer. At the same time,
preventing the free market price fluctuations with reduced government intervention, these types of practices
discourage domestic economic growth. The Consumer will wait to purchase the product unless it is essential.
Elected officials are failing the American voter. They have decided to work for the merchants instead of the citizens.
Their theory focuses on assisting unions, banks, manufacturers, and business, thinking controlling the direction of
the economy with helping businesses creates a stronger economy. This is the same theory that has been going on
since the early 1900’s. Ultimately causing the collapse of the Stock Market and bringing us into the Great
Depression. And the many bubbles in that required further government intervention and an incremental path to
America needs elected officials who have the American voter in mind. Where they are given the opportunity to
decide for themselves the price they will pay for a product, and the choice of purchasing out right, or to borrowing
from a lender. This will cause more needs in domestic products, reduce the domestic employment rates. Ultimately,
giving victory of an economic war that has been waging for decades.
|It’s Not the Economy Stupid!