Our country is engaged in an epochal struggle for its future. Day-by-day reporting of political maneuvering easily distracts us from the big picture.
Here’s what I see: The only real way to begin turning around our deepening, collective financial disaster is to grow our economy better. This has many snowballing benefits, including: more jobs, resulting in greater tax revenues even at the now Obama/Bush rates; and reduced social welfare payments, resulting in moderately lower government spending.
It doesn’t, however, address the looming long-term entitlement train wrecks in Medicaid, Medicare and Social Security, which President Obama and his Democratic Party refuse to reform, nor does it address the increasing squeeze on our national medical delivery system which ObamaCare will cause, despite happy talk to the contrary.
So, huge areas of critical concern remain, but significantly improved GDP growth rates will at least provide the foundation allowing the country to begin the turnaround process. The central question, then, is how the economy can be grown most effectively and quickly.
Two basic approaches exist: ever more government spending and presence throughout our economy; or returning to reliance on the "animal spirits" of entrepreneurial capitalism in the private sector.
The last three decades provide us with actual case study data illustrating and contrasting the efficacy of each approach. Objective examination of this recent experience points clearly to the better choice. Which of these basic alternatives dominates going forward will determine the fate of the America we know but are now rapidly losing.
- Letters to the Editor
- No help for working poor Editor:Whatever happened to the old rule that so long as a person was paying on a bill, service of utilities couldn’t be cut off? For 18 years I have had a perfect payment record. I now have nothing, am paying every penny I do earn at three intermitt
- Hearts & darts Here are some of the good things readers noticed around the area recently:Suse Townsley, of Danville, sends hearts to the staff at Presence United Samaritans Medical Center. “I was taken to the hospital on June 22 through June 24 and stayed in the ne
Church cancels popular event
Church cancels popular eventAfter 22 years of hosting the popular St. Anthony’s Salad Luncheon, the ladies of the church group have reluctantly been forced to cancel this year’s luncheon because the Vermilion County Health Department insists all dona
- No Headline Provided I read an interesting article about CEO salaries for S&P 500 companies.
- Use Lincoln's inspiration Editor:Usually July 4, our country’s birthday, is ushered in with parades, flags and pride.However, with news of a war we never won, loss of respect by our allies, a president whose trust among our people is gradually fading and who is depleting our
- Failing to recognize limits Editor:The June 27, Commercial-News contained three articles, among others, that prompt this note to the entire community.The first article, Page 3A: “Danville’s unemployment rate tops state rankings.”The second article, Page 4A: “Illinois cities dea
- Help fight human trafficking Editor:On June 20, Secretary of State John Kerry released the 2014 Trafficking in Persons Report, which ranks 188 countries on their efforts to combat human trafficking, including the United States.Human trafficking is modern day slavery and it occur
- We appreciate so little Editor:When I read a recent editorial on maintaining the parks, I just had to write.Years ago, we held our annual reunion at Douglas Park every year. It was a wonderful park when we first started meeting there and back in the late ‘50s they still had
- Hearts & darts Here are some of the good things readers noticed around the area recently:Members of the Bismarck-Henning Music Boosters send hearts “to all of our generous friends who sponsored signs and donated items to our mini-golf tournament. Without such givi
- Submit Your Letter!
- More Letters to the Editor Headlines