Saturday, December 10, 2011

The "On Your Own" Economy

The other day our President went to give a speech in Kansas in which he once again railed against the 1%. In the midst of the speech he constructed an impressive straw man, referring to those of us who disagree with his understanding of finance as “simplistic” and then blamed our current woes on this “ you’re on your own” brand of economics. Question: who out there throughout the fruited plain feels left alone by our government? Seriously? 9% unemployment, 15 trillion dollars of debt and 1.5 yearly budget deficits as far as the eye can see is the result of negligent government? Our government isn’t involved enough in our lives…THAT’S the problem? We should be so lucky.

Let’s see. The government enjoys a monopoly on public education, spending more money per student than any country on the planet with the exception of Switzerland. This largesse has resulted not in ever improving test scores. It hasn’t produced legions of first class scholars and it hasn’t resulted in lower and lower delinquency rates. What it HAS produced is a gigantic bloated education bureaucracy and a public sector teachers union that fights any attempt to reverse these catastrophic trends. If a graduate of this system desires to attend college he is forced to borrow huge amounts of money from the government monopoly that took over the student loan business, thereby subsidizing and artificially boosting the cost of higher education.

  Once the lucky scholar gets his degree and by some miracle gets a job, he will soon want to purchase a home. The chances are better than 50% that his loan will be obtained through Freddie Mac or Fannie Mae, the two government sponsored institutions that helped bring us the mortgage crisis of 2008.

 If our aspiring American Dreamer ever gets sick and needs to go to the doctor, he will be served by a government who determines how much treatment he can receive and at what price.

  If this bright guy ever gets it in his head to start a business he will be forced to run the gauntlet of federal and state agencies , boards and commissions with each of their licensing fees and mountains of paperwork.

 If somehow he makes it through the many hurdles put in his way and actually starts his business, he better hope and pray that no one slips on a banana peel in the lunch room , because the lawyers at OSHA will be on him like white on rice.

If, against all odds he produces an evil profit at the end of the year he better hire himself three accountants to prepare his tax returns, because if he makes a mistake, the boys at the IRS ( the most negligent of ALL government agencies ) will show up with swat teams from the Bureau of Alcohol Tobacco and Firearms to raid his business looking for illegal profit making stuff.

 When our hero leaves the office after the raid and walks the streets of downtown, his every step will be monitored by video surveillance cameras. If he stops at the ATM to withdraw money to get drunk the transaction will be monitored by his friends at Homeland Security.

 If he does get drunk and makes the mistake of revealing to his bar mates ( one of whom is a government social services worker)that he has three young children waiting for him at home, his kids will soon be plucked from his home and transferred to the custody of the state.

 After his wife leaves him and he is forced to sell his home at a loss, he will sit down and write a soul-bearing letter to the editor of his local paper telling his cautionary tale only to have the letter lost by the government run monopoly that controls mail delivery.

This is an “on your own economy” ?? One wonders what Obama envisions as an energetic, and involved government?