My Republican friends like to say that "Barack Obama is a tax and spend Democrat hell bent on increasing the size of the Federal government." To some degree, this is true. Barack Obama is going to raise taxes and spend the earnings on getting us off foreign oil in 10 years, putting health care within reach of all Americans, and investing in our educational systems. Ok... twist my arm.
But what, exactly, are the Republicans for? They will reduce taxes and reduce the size of the Federal government. Puh-leeeeze! They decreased taxes alright. They also oversaw one of the biggest expansions of the federal government in the history of... well... history! They oversaw the massive expansion of the military (let's not forget that this too is part of the government). They oversaw the implementation of Homeland Security. They oversaw the creation of the TSA. Will any of these things result in long term financial prosperity?
Due to massive deregulation of the financial markets, the Republicans have now decimated our economy. The result? The federal government ended up funding the purchase of Bear Stearns. They blew a huge wad of cash on rebates with questionable results. Now they have nationalized Freddie Mac and Fannie May!
Heading in to the nationalization of these two troubled financial institutions, we were in debt by 10 trillion dollars. The entire US only produces 14 trillion annually. Freddie Mac and Fannie May secure 52 trillion dollars in debt. Guess what folks, now you and I now secure 52 trillion dollars in debt. Add that to the 10 trillion dollars and we are now on the hook for 62 trillion dollars in debt to banks far and wide.
Will any of this result in long term financial prosperity? No, it won't. The staggering amount of cash we have blown under Dubya will result in... A RETURN TO MORE REGULATIONS AND A MASSIVE EXPANSION OF THE FEDERAL GOVERNMENT!!!
John McCain is going to reduce taxes even further but has not talked about reducing spending to keep up with those cuts. Nor has he talked about how he will realign government spending to address the economic realities. Meanwhile, we are staring down the barrel of a Social Security crisis (an institution he wants to commercialize), the destruction of wealth in all sectors of the economy, and an energy policy the will send our hard earned cash to the people that bombed us (the Saudis) and the people that would bomb us if they could (Hugo Chavez).
Thanks, but no thanks John McCain. Oh, and you can keep your 169 lobbyists too.
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