In December, 1799, President George Washington contracted a severe throat infection. His doctors–distinguished experts all–treated him with calomel, to induce vomiting, and bloodletting. When their patient’s condition deteriorated, they treated even more vigorously, giving more calomel and taking more blood in the hopes that this time they’d succeed.
George Washington died of dehydration, blood loss, and choking from the uncontrolled infection. His very well-meaning physicians had actually hastened his death.
In August, 2010, the republic that George Washington helped found is in the midst of a severe economic recession. Her leaders have consulted the experts they respect, and the therapy they have chosen is to drain dollars out of the private sector so that the federal government can redistribute them, and to pile thousands of pages of new regulations onto businesses and employers.
Let’s see how our patient is doing:
Indicator #1: The Congressional Budget Office (CBO) predicts a deficit of over $1.3 trillion for 2010. CBO also predicts that the economy’s annual growth will average a feeble 2% next year, and unemployment won’t fall back anywhere near a generally healthy 5% until the end of 2014.
Indicator #2: Speaking of unemployment, the U.S. Labor Department reports jobless claims last week jumped to the highest level seen since before last Thanksgiving. Bloomberg.com says the reports tell us that “companies are stepping up the pace of firings as the economy slows…A survey released yesterday also showed companies expect their costs of health-care benefits to rise 8.9 percent next year, a product of the overhaul signed into law by President Barack Obama.”
Diagnosis: The treatment isn’t working. Turns out that redistributive “stimulus” and enterprise-choking regulations actually weaken our economy. More of the same will worsen the misery. Yet our Administration and its supporters refuse to acknowledge reality.
Plan: Time for new leadership in Congress, with a plan that will let the private sector hang on to precious dollars and use them to grow the economy and jobs:
- Make the 2001 and 2003 tax cuts permanent.
- Reduce the capital gains tax.
- Eliminate the alternative minimum tax.
- Eliminate the estate tax, also known as the “death tax”.
- Repeal the job-killing, growth-arresting, liberty-smothering new health care bureaucracy passed by the Pelosi Congress and the Obama Administration.
I’m running as a doctor to change our Congress and heal our economy, and our campaign can only succeed with your vote and your support. Please, make a contribution at www.NanHayworth.com (August 25 is our next big deadline), display a yard sign or bumper sticker (call or email us to get all you need!), write a letter to the editor, call 10 friends and invite them to get involved. If all of us work together, America will come back from this recession and be healthy for another 200 years!