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
- Life spent helping others Life spent helping others Editor: For more than 50 years, on the first Sunday in March, they came from as far away as California, New York, Detroit, Dallas, the state of Florida and all throughout the Midwest to witness the glitz, glamour and fashion
- Wrong time for minimum wage hike Wrong time for minimum wage hike Supporters of raising minimum wage, despite good intentions, do not end up helping the ones who need it the most. An example would be a single mother of one child faces a marginal tax rate of 91 percent when her pay
Son does well at Liberty
Editor: My son, Nathaniel, attends school at Liberty Elementary School.
- Races charge too much Editor: Runners and walkers must beware this summer. Some 5K (3.1 mile) fundraising events will again be way overcharging. Most are put on for good causes, but it’s not a good cause to overcharge people for something they sweat for.
- Fight the proposed coal mine Fight the proposed coal mine Editor: In a single issue of St. Joseph's The Leader, dated March 5, one can find four events listed that testify to our love of the natural world: a bird walk, a lecture on freshwater mussels, a pre-K event at Homer Lake
- Searching for answers Searching for answers Editor: I'm certainly not saying the city's firefighters don't need or deserve an increase of funds, but I would like to better understand why. Why do they feel they need more personnel than the national average of 1.04 per 1000
- Advocate will be missed Editor: We at Community Blood Services of Illinois are saddened by the recent death of Patricia Black, a wonderful and dedicated employee who was known to a generation of local blood donors. Pat was a tireless advocate for the Danville Elks Blood Ban
- Social workers earn praise Editor: March was National Social Work month. The 2014 theme was "All People Matter." I personally want to say "thank you" to the social workers. I am a registered nurse and have worked in many different health care settings from acute hospital care
- Neighborhood going downhill Editor: Home owners and the few good rentals of southeast Danville are concerned about Fair Oaks in their neighborhood. Well, wake up people. Unless you have been in a coma or frozen for the past five years or more, these kinds of people and many wor
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