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
- Hearts & darts Here are some of the good things readers noticed around the area recently:Mark Ottarski of Danville sends hearts to some helpful people.“On a recent fishing trip to Lake Mingo with my wife and 5-year-old granddaughter, my boat became hung up on a sub
- We need an explanation Editor:In a prior letter I mistakenly said that in the last 30 years (correctly 20 years) health costs have grown only 0.8 percent, year over year, compared to 1.0 percent average since Obamacare became law: Obamacare effects are simply part of a lon
- No Headline Provided Money isn’t everythingEditor:Billionaire Bruce Rauner wants to be our governor here in Illinois. To me that would be like a millionaire running to be the mayor of Danville. He feels like his money is the only qualification that he needs.Here is a man
- No Headline Provided Keep pot out of townEditor:I was confused by the article in a recent Commercial-News about medical cannabis. It first states that strong support for this by local law enforcement. Then a little further down it states that Public Safety Director Larry
- Upset at discarded decorations Editor:I don’t know what is going on down at Georgetown Cemetery, but I find it pretty appalling. For the second year in a row, the arrangement that was placed on my grandparents’ grave has been stolen.Then on July 25, I go out to the cemetery to my
- No Headline Provided Help Make-A-WishEditor:It’s wonderful to make a child’s wish come true. As volunteer wish granters for Make-A-Wish Illinois, we have opportunities to do just that for children with life-threatening illnesses. The children we serve are between the age
- Cruelty to dog inexcusable Cruelty to dog inexcusableEditor:To the low-life who took a beautiful, young, blue and white pit bull-boxer mix, put her in a box, taped it shut and left her to die, I hope karma becomes your best friend.Some low-life did this during the weekend of J
- Hearts & darts Here are a few of the good things readers noticed around the area recently:• The family of Teresa Denhart Ramey of Crawfordsville, Ind., — Bob, Rachel and Kendal Ramey; Bob and Mary Elaine Denhart; Betty Smith; and Allen and Julia Denhart and family
- End the excuses End the excusesEditor:Due to our real estate tax bills being late again, parents have to enroll their children in school while trying to pay that bill. According to the news, the cost of school supplies is up this year. So which is to be paid first?O
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