Obama will not support oil exploration – he cut off the Keystone Pipeline, which would have created jobs and boosted oil production, and lower gas prices. The source of much of the economic stagnation in this country flows from the bad fiscal and mislaid economic policies of the current administration, which has all but frittered any political capital gained following the 2008 election.
Printing currency en masse, money creation creates inflation, which has boosted gas prices and the price of other key commodities. High gas prices mean more environment friendly cars, according to discredited Secretary of Energy Stephen Chu, who has pushed for the production and purchase of cars whose energy source will contribute far more to pollution and energy costs than the current fossil-fuel based automobiles.
If the United States federal government really cared about economic recovery, we would see the immediate and long-term slashing of income tax rates, especially for higher income earners. Politically speaking, this move would help small businesses far more than the one hundred or so billionaires in this country. Wealth creation requires wealth. The government does not create wealth, and in fact wastes a considerable degree of wealth moving wealth from individual earners to the depleted and depleting government treasuries.
Steve Forbes is one of the first conservative columnists to attack his slightly older and less consistent Conservatives in Great Britain. The economic reforms sought out by the current coalition government are compromising the long-term diligence and responsibility of Tory values -- less government, less control by the state, has given way to half-way subsidies and blatant handouts to the public, seemingly just want to hold on to power. They have to appease the Liberal Democrats as much as possible, lest they break away and form a coalition with the Labour Party. Still, perhaps a united front of effect tax increases, following a feeble no-confidence vote, may be in store for a nation which has struggled to stave off the lingering, long-term effects of the Great Recession and the bloated, blimey-ed welfare state.
Obama and Cameron, sadly, may share a greater kinship regarding the role of the state than previously considered. Politicians must push drastic spending cuts and revenue cuts as cautiously as possible, yet they must ensure that the reforms take place in due haste, as public opinions wearies very quickly toward dramatic change following the first few months of a new administration.
What Herbert Hoover did following the Stock Market Crash of 1929:
Smoot-Hawley Tariff, which discouraged imports and incited a world-wide trade world that deepened the depression. Hoover begged business to keep wages up and lay off on lay-offs
Franklin Delano Roosevelt
Pushed minimum wage laws. Egged on militant unions to push for wage increases.
Government destroys or restricts job growth
When the Stock Market fell, the world panicked. What they should have dome – relax!