Friday, July 1, 2011
Obama Stimulus Failed: Former Federal Reserve Chairman Greenspan
Just like under FDR massive federal spending does little to improve economy and creates record debt.
If we are doomed to repeat history it would be wise to repeat historic economic polices that actually stimulate growth and revenue. Lower taxes for all Americans and less regulation have proven beyond any dough to be the fix for an ailing economy. History proves that a formula of lower taxes and less regulation works.
Not only does history prove this formula works, so does current events.
Texas is creating 40% of all the new jobs in the USA. Texas has no state income tax and is a right to work state. Texas is also business friendly. In contrast look at states that promote unions and have high taxes and you will find states in trouble. Another reason Texas is booming is people are leaving the states with high taxes and moving to the Lone Star State. This influx of residents helps create jobs.
Cutting the size of the Federal government and lowering taxes is the only way out of the current Obama economy. Sadly in the face of failure Obama is still calling for higher taxes and more spending. The Obama way of hope and change is if you fail double down with the same policies that are already proven not to work.
at 12:41 PM