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Can This Economy Be Saved?

Friday, June 24, 2011

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american economy

America’s economy is in the doldrums again. Economic growth is weak—just 1.8% a year in the last quarter. Government spending is increasing—to a projected 25.3% of gross domestic product this year from 20.7% in 2008—while revenues are down to 14.4% of GDP from 17.5% in 2008.

Our nation obviously needs much stronger economic growth, and we need it now. To create new jobs and get America growing again, we have to unleash the economic engine of the business community, and that requires lower tax rates, less regulation and uncertainty, free trade rather than protectionism, and lower energy costs.

The unanswered questions are whether the Obama administration is more focused on higher tax revenues than business expansions, and whether the Republicans are more focused on expanding jobs than raising revenues. We may well see Democratic corporate tax reform as a mix of lowering rates offset by a broadening of the tax base so that businesses actually pay more to the government, while Republicans may look at a lowering of tax rates and a broadening of the base as a way to reduce taxes overall to spur business growth and overall economic growth.

America’s businesses can bring us out of our current economic doldrums, but Washington must let them succeed.

Post Continues on online.wsj.com

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  • Nancy

    The economy COULD be saved, but I don’t believe it will. We would need to get rid of about 75% of the worthless corrupt politicians to do it and have a vast overhaul of so many things (as far as I’m concerned the first overhaul would be to take away their FULL pensions after one term in office, free healthcare for life, perks and … perks).

    • JohnDave

      I think the first thing that should be done is to get rid of Obama. He is an absolutely terrible president: a liar, a socialist, and, I believe a traitor. We need a president that actually has the best interests of America in mind – not cronyism and self-glory. Lobbyists cut to zero. Terms limited to 2 for Congress. Set limits on spending for reelection. The “change” Obama promised, but can’t deliver in a good way.

    • EddieW

      John, you got it right! Obozo our Liar in Chief has publicly stated that he hates this country, and I honestly believe he intends to destroy it! He has 80% suceeded in 2 years, will he complete the job in the next 2? He don’t need to be reelected!

    • alex

      obozo cant do anything if we have the majority in both houses if we can get rid of all those rino’s

    • Whackajiig

      Do not wager anything you cannot afford to lose that ovomit cannot bypass congress enough to destroy America

    • http://Facebook Que Dub

      Oh yes “he” can, executive order, just like “he” is going to legalize the illegals!!! Watch and see!!!

    • justwondering

      I couldn’t agree more Nancy. They could also give corporate tax breaks, with the stipulation that they hire more people and give good wages. Of course the breaks should only be given to the plants and factories that are right here. Might give some incentive to bring some back here, if anyone wants them back.

    • premanent muslim scum remover…

      Thats a great start.Then we drill for our own oil and we stop voting for muslim scum to be president. Read his boks and remember,obama hates America as his father did also. Wake up America.

    • http://x Washington22

      PMSR…..quit saying “wake up America”, like you set yourself apart from the rest of us on this site. WE ARE AWAKE. We are passing ideas to each other, trying to create a plan of attack. We are seeing where our ideas and views might agree for consensus……Make suggestions….

    • http://T Anna Salerno

      Rand Paul has a “cut the Federal Budget” by $500 Billion and that is all with out medicare and social security…

    • http://T Anna Salerno

      If you want real cuts to the real Federal Budget then please sign Rand Paul’s “Cut Federal Spending petition”. Congressman Paul wants to cut $500 billion from the Federal budget, see list I have copied just below. If you want to sign the petition and I hope you will it won’t cost you a dine unless you want to donate to his cause…

      Specifically, my Cut Federal Spending Act reduces funding for the:

      * Department of Agriculture by over $42 billion.

      * Department of Transportation by over $42 billion.

      * Department of Energy by over $27 billion.

      * Department of Health and Human Services by over $26 billion.

      * TSA by almost $1 billion.

      * Housing and Urban Development entirely, excluding veteran housing programs.

      * Department of Justice by over $9 billion.

      * Department of State by over $20 billion.

      * Additional departments and programs bringing the total to $500 billion.

      My proposal is accomplished entirely without touching Social Security or Medicare, and believe it or not, still leaves 85% of government funding in place.

      Cut Federal Spending Petition

      Anna G Salerno

      On Thu, 6/23/11, Rand Paul

      From: Rand Paul
      Subject: Is Obama joking?

    • permanent muslim scum remover…

      Don’t forget the cost of obama’s glofing trips—priceless. the cost of michelle and friends highend vactions $1,000,000,000,000,000,000,000,000,000,000, you get the point.

    • http://Facebook Que Dub

      Don’t forget foreign aid & $$$$ to the illeagals !!!!

  • http://adrianvance.blogspot.com Adrian Vance

    The economy will right itself when we get rid of the wrong government. The only question is how will it happen? Election? Impeachment? Revolution? Asteroid falling on DC?

    For political analysis, science and humor see The Two Minute Conservative, http://adrianvance.blogspot.com Now on Kindle daily.

    • sb36695

      I like the asteroid idea!

    • Whackajiig

      Bullets are also very effective in making your feelings known.

    • Bruce

      But that is the last resort. Enough pressure by the people will work. Pols only want to continue in their jobs. If kkeping their job requires them to vote for cuts in spending, they’ll vote for cuts in spending despite it being an anathema to them. They’ve practiced diligently at promising to “GIVE” something to us, their constituents (not caring about who has to pay for it: the ‘other guy’, us, or the next generation).

    • http://! Bobcat

      how about a Hiroshima on DC???

    • Whackajiig

      DC has more black residents than it has people. To nuke DC would get rid of all the politicians we dislike, but how could you nuke all of those kneegers? That sounds racist.

  • Captain PJ

    All of the economic numbers clearly demonstrate that things are getting worse, not better, and Obama has lost the confidence of the American people, who do not think he knows what he’s doing. Unless Obama declares a cease-fire in his war on business and the private sector and abandon his pursuit of European socialism, the economy will not be saved.

    If he and the ruling class would fully legislate into existence a comprehensive reform plan, sucha as that proposed by Congressman Paul Ryan, to repeal Obamacare, cut nonmilitary discretionary spending and income tax rates, implement structural entitlement reform, and eliminate onerous government regulations, we would see an “immediate” and profound reduction in the crippling anxiety that envelops this nation over our uncertain future. We’d see a genuine explosion in consumer confidence and economic growth that would make Obama’s further scapegoating utterly moot.

  • proudamerican

    Not if the dems are making the decisions it cant.

    • Mike from Colorado

      Totally agree, as long as OBAMA is in the WH it will never happen. His mission is to destroy the USA and its economy and to impose a One World Economy in its place…it is his one and only mission. He is the most NARCISSISTIC character American politics has ever encountered…he and Geo Soros deserve each other in a place side-by-side in HELL.

  • tweety

    If this cannot be worked out now, then next year we will be having the same discussions only the consequences will be worse. Every day that goes by our debt is increasing. Somehow the Dems are impervious to all this.
    It seems like many years ago now that we heard that a crisis was approaching and nobody paid attention, so it’s not so surprising that people will continue to have heads in the sand.

    • justwondering

      The dems hear us and know we are right, but they don’t care, their pockets are being filled!

    • Whackajiig

      Every day our national debt increases by billions of dollars.

      Every day over 10,000 illegals pour over our southern border to leech off of America. It is only the liberweenies who fail to see a connection.

  • http://robertjavorka@gmail.com RJJ

    From the early days of his ’08 campaign, the Oboner continues to depict the business community, large and small, as the greedy enemy of this nation. The same target over and over again for taxation. The same companies people depend on for employment.
    The business community has responded in force by sitting on an estimated $2Trillion in cash. Refusing to hire and throwing PINO’s challenge right back in his floppy eared face. Thus, keeping unemployment high and giving this demolition PINO no chance for a second term.

    ……………………………………………. AIN’T PAYBACK A BITCH !!!

    • Whackajiig

      When making ovomit, God ran out of heads, so he substituted a black light bulb with small wings.

  • SmithWinston6478

    We MUST get rid of the anti-American Trojan Horse in the Whitehouse who is sabotaging our economy! If more spin, false promises, intimidation, or vote fraud get him re-elected, dissidents, the resistance (that’s US), and free speech (that’s THIS), will mysteriously disappear. Clouds are building on the horizon.

    Naive liberals, parasites, and well-intended idiots are destroying THEIR OWN freedom, security, and opportunity by supporting democrats and the boorish, narcissistic, arrogant, adolescent puppet of George Soros.

    Fools with their hands out refuse to see his insidious intent. He lies without conscience. He is BANKRUPTING us! While China and Russia are buying oil-fields all over the world, he is keeping ours out of production! He is destroying the most innovative medical system on the planet, has surrendered our border, and bows to tyrants. He is cutting defense, alienating allies, and is impotent against our enemies! He told NASA to concentrate on ‘muslim outreach’…HUH? He ignores Constitutional law.

    The false messiah obowmao and lackey-racist Holder have set race-relations back 60 years, and it has NOTHING to do with appearance. Holder is suing Arizona for enforcing Federal Law, and wants to prosecute the heroes who uncovered the intel to snuff osama bin hiden.

    We could not contest the forces that might be brought against us if Soros recommends the usurper declare martial law. Then our only hope will be the honor of our oath keepers to defend and protect the Constitution. We must exhaust all legal channels to free ourselves before anything worse developes.

    Silence is complicity! SPREAD THE WORD: Stay informed, involved, and inspired. The clock is ticking! FIND SOMEONE WHO IS OPEN TO THE TRUTH; we’re going to need enlightened voters IF there still is a free election in 2012. A storm is coming!

    “Ask not what your country can do for you; ask what you can do for your country.” – John F. Kennedy
    “A government that robs Peter to pay Paul can always depend on the support of Paul.” – George Bernard Shaw
    “America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” – Abraham Lincoln
    “The Constitution is NOT an instrument for the government to restrain the people; it is an instrument for the people to restrain the government.” – Patrick Henry
    “Whoever would overthrow the liberty of a nation must begin by subduing the freedom of speech” – Benjamin Franklin
    “The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.” – Thomas Jefferson
    “During times of deceit, telling the truth is a revolutionary act.” – George Orwell ’1984′

  • ARMYOF69

    Cut, BIG TIME everywhere. NO SACRED COWS.
    Cut all government positions by 20% this year. to start with. Shut down all the “gimmee” programs until all are re-qualified . Bring ALL our military back home.Stop all WASTE…when you’ve this, talk to me about more taxes, not before.

    • http://Facebook Que Dub

      STOP ALL THEM china IMPORTS NOW!!! I MEAN NOW, BY GOD!!!!!
      STOP ALL FOREIGN AID !!! (when in the H3LL did they ever “aid” us ??)
      CUT THE GOVT IN HALF, YES IN HALF, PAY , NUMBER OF THEM, BENEFITS, WHOLE FVCKN MES OF IT.
      GET RID OF EPA & PETA.
      DRILL OIL NOW !!!DON’T PAY ATTENTION TO DRILLING PERMITS !!

  • http://http/aol.com sean murry

    the economy can be saved as soon as we cut politians pay and benefits.It will be a good starting point.

  • ctc wilson

    The first and most primarily URGENT action that MUST be taken, IF we are to survive..and the word “IF” cannot be more strongly emphasized, ~~is to get rid of Obama and the thousands of like-minded Fabian Socialists that he is used to permeiate very government Agency, every government Institution, and, now, our very own families by virtue of the “dictated” curriculum that he and his fellow Communist/Socialists have adopted in the public education system! He starts with the young, the innocent, and he molds their minds to become robots, to be used for his purpose; to overthrow what we have built and so well maintained as the UNITED States of America. We must take action now to reverse this. Where and why is there no mention of a RECALL? This Fabian Socialist, liar, cheat, and imposter, is moving full speed to destroy our nation. The lastest headline news is meant only as a distraction, a diversion, for him to move yet into another part of our Constitution, and to rob us of our freedoms and to so tarnish our heritage that we will be left in ruin. RECALL this Communist now. Not in the lenghty time that remains for him to continue his advancement; but, NOW. WAKE up America! Your children are being used, raped, and unattended, this monster Communist who sits in the most powerful office in the world is totally dedicated, 1000%, to destroy us, to destroy our Homeland. He is a Hitler. Think. Think. And, act, before it is too late!

  • Max

    The loony left knows lowering taxes brings in more revenue. But they are bent on punishing anyone that makes money especially those that make it big. They have said this openly. Their confiscation of the hard working people is then given to the slackers.
    There is fact in the fable of the Goose that laid golden eges.

    • JS

      I agree with cutting certain types of taxes, particularly for the middle and lower class at this point, the ones most likely to spend that extra money, most in need, and most ignored over the past several decades. To claim that cutting taxes will bring in MORE revenue though is just not true at all based on anything from historical experience. There are dynamic effects, but its not free. Think of it this way, would we get more revenue if we dropped them all the way to 0%? Of course not, it has to stop somewhere right? I am not sure why people keep spewing that myth, let’s just be honest and realistic. Cut taxes now, run a bigger deficit, and cut long run costs/entitlements to get the real debt issues under control over the coming decades.

      Also to say taxes are designed to punish especially those who make a lot of money is just not true, they end up getting off much easier than the middle class under the current system. Social security is capped at about 100k, and capital gains, interest and corporate taxes are lower flat rates, and many of the super rich generate a lot of their earnings from these sources. Its pretty ridiculous the super rich now pay lower average tax rates than much of the middle class.

    • Whackajiig

      The top 1% of the taxpayers contribute 38,02% of all the federal income tax collected. the top 5% cover 58.72% of the tax. Why is liberliars like you think that just because someone has worked harder and smarter than you, that he should pay some of what you should be paying?

      Since the rich pay almost all of the federal income tax, let’s change the way we vote. Let’s not permit the parasites who don’t reimburse the government fully for their cost to the government to even cast a ballot. If the rich must support the nation, they should also be given full control of the nation.

    • JS

      They often pay a lower percent of their incomes though, that is my point.

  • CJB

    Although Obomba is only a puppet, he is working the Cloward?Piven plan to the delight of the CFR and Bilderberg group that have many of the same members. This is wrecking the economy and the ability of government to function by design. Be alert for a false flag attack so all of the CFR Media brainwashed citizens will rally around Obomba and the flag while the nation is being readied for a financial collapse.

  • PAT

    Get rid of half gov, starting with OVOMIT, Geitner,Holder,EPA,COMMERCE,IRS,NLRB,Researchwelfare for only under 18,fulltime passing students,or over 70, rest work.Help small businesses,cut taxes,total reform fair or flat,all pay,no zero corporations,no zero welfare people,no illegals with any freebies. period.drill Anwar, gulf, oceans, reopen coal (44%) stupid people!! cut all lobbyists,cut all gov salaries 50%,no limos,no private planes/jets,no 100% pensions(only social security and medicare)and congress only 6 month session,then home to other work,not gov.Deport all criminals, illegals, gangs, sleepers,no fly and slam shut border.Quit lying. Quit stealing.Stop all corruption. NOW. Jail or impeach O.Fake bc,fake ssn, corrupt domestic closet Muslim, antiIsrael, antiAmerica terrorist/traitor. BEGONE BAD GUY.America deserves way better.

  • kenneth dameron

    I am not optimistic that our fiscal situation can be saved. As long as our lawmakers and presidents are elected by the people (i.e., by us), we will continue to vote for those who promise us the largess of government. (Prime example: Sen. Grassley of Iowa, staunch proponent of the ethanol subsidy, which has made for many rich corn farmers, not to mention the large agri-businesses like ADM).
    Conversely, who would vote for someone who promises to take away some benefit to which you have become accustomed, or even dependent? (e.g., note the unpopularity of Rep. Ryan’s overhaul of Medicare).
    Sadly, I believe the only answer is to go back to a Kingdom. It worked for King David, King Solomon, and even King George. How about King Kenneth? I promise to be good and equitable.

  • Howard-the Banger Club

    Great comments. Let’s look at 2012. Governor Rick Perry for President and Congressman Allen West VP. Look at their web site and see why.

  • kenneth dameron

    Does anyone believe that Michelle Obama’s trip to Africa, along with her mother and two children, has been a wise and essential use of government money? So she got to meet and shake hands with Nelson Mandella? Big deal!
    I say — Ground all presidential aircraft and reassign all the AF personnel associated with running this private airline.

    • Whackajiig

      The absolute best thing that congress could do right now is to defund the Secret Service.

  • LadyLiberty

    Not under Obamanation.

    This Fed Government’s micro management, over regulation, cronyism with Unions and czars, obstruction and interference of every damn thing everyday…is taking us down along with all of our benefits with them; cause they can’t make good on their promises. We were asleep, we made a mistake…we were taught to trust our government… mistake #1; they are the enemy.

    CERTAINTY IS THE CURE; so uncertainty, advocation of extreme measures and radical views, plus inexperience has been the cause of all our economic problems. Vote in a good middle of the road Christian President…I want my head to stop spinning everyday.

    • http://x Washington22

      I agree, Lady Liberty. A good common sense Christian with the right morals, ethics and values would be a huge benefit and put us on the road to recovery. It is an all important requirement…………..

  • Bree,

    At this point only God can save America, we are going right over the edge. The first sign of judgement on any nation is the collapse of its economy – and the Bible says “the nation that forgets God, he will destroy”. Look at the economy and ask, has America forgotten God? The minds of men alone are not great enough to “fix” any nation. We should be calling upon God.

    • http://! Bobcat

      a big “AMEN” to that!

    • http://x Washington22

      me too, Bobcat. Amen………..

  • http://rebelforiam.com michael sharpe

    It can be saved, will it? Only with Divine intervention can it be saved. Well intented idiots have steered America to the brink of a Dictatorship. A couple of hail stones the size of a bus could land on the Federal Reserves and the IRS, then the Whitehouse- in that order and quickly one behind the other. Then We start over.

  • sb36695

    Not by the government.

  • dodi

    This is not the RIGHT government to save the economy. You can’t be this far in debt and expect to keep on spending. We cannot spend our way out of this and the dumbocrats in power now don’t want any part of NOT spending. I’m glad the budget talks are at stalled but I sure as H don’t understand where anyone (including Boehner) thinks that bring Obama in is going to make the difference. Unless Boehner is a pansy pants and will cave and if that happens, WOW we are in deep dodo!

  • http://www.Saltshaker.US Dave Leach

    Our national debt is scary because America’s young healthy tax-paying workforce has been too depleted by abortion to support entitlement-sucking old sick seniors like me, who allowed 50 million American innocents to cruelly die. Meanwhile millions of strong young workers wait at our borders to replace those we have slain, to take care of us and our debts, but our Numerical Limitations won’t let them. If we are serious about saving America from financial collapse, Isn’t it time to revisit those Numerical Limitations, along with stopping the slaughter?

    • Whackajiig

      Hey leech…………. so you think the filthy, thieving, government dependent mexicans are the solution? I’d rather see Americans here and mexicans in the shithole called mexico.

      If those filthy people cannot improve mexico, they cannot improve our nation either.

  • price66

    What Economy??

    • Whackajiig

      The economy exists if it is good or if it is bad.

      What economy? Why the bad one that ovomit has created of course.

  • melissab

    Yes!!!! Pray …. if we don’t, we better start learning Chinese!

  • premanent muslim scum remover…

    Our ecomony here in America can be saved and saved rather soon if Americans want that to happen. We must drill for our own oil,give tax breaks to small business so they can hire,stop obamacare and everything else obama and stop voting for democrats to ruin our nation. How about that birth certificate? how about his phony ss# from conn? Lets take our nation back and stop the corrupt chicago mobsters that run our nation from cheating the American people out of our country. wake up America.

  • http://Yahoo.com Thomas Martin

    Stop these damn crooked welfare programs by making these lazy low lifes take a drug test. That would get rid of a lot of these low life who think they are owed a living.

    Stop giving foreign countries our tax dollars. LTESAD

    Stop buying forein made products, they suck and they do not want our stuff, LTESAD

    Defund obama care crap, kills jobs big time
    Defund the epa, kills jobs big time

    Stop all tax dollars from being used to kill babies on abortion, damn baby killers all that do this vile thing.

    Close our borders, and no money of any kind to these illegal law breaking ass holes, starve their sorry asses back to the hell hole they come from.LTESAD

    Stop appeasing these aliens in our country make their sorry asses learn English, I don’t want to push one for English, I’m in America, screw them that find this harsh.LTESAD

    The list is just a few, there are many more.

  • BAND

    Who wants to “SAVE our economy, we need to do a Thatcher as she did in the U.K., i.e. kick rears and bring fresh air into the economy.

  • Pat Sinclair

    Get rid of Obamacare and the EPA and we will have growth like have never seen before. But when you get rid of them make it permanent for good.

  • G. Black

    I believe God is using Obama as a judgement on this nation. When Israel disobeyed God He gave them wicked kings that caused them to sin even worse.
    God is removing all the blessings He gave this country and

    I don’t believe He will stop because the citizens of America do what is right in their own eyes, worship the God of abortion and wealth. They curse and spit at Him and mock Him. Even pastors who were once respected are now turning from God.

    I visit the blogs on various websites and I read the comments posted. They despise God. They curse God. They laugh at those who believe in God.

    This country is too far gone. Sorry but I believe God is going to finish this country off very soon but first He will come for His church (the rapture).
    I believe God’s people need to bow down, repent and seek Gods face and his forgiveness.
    Read @Chronicles 7:14

    Even some of Gods people have succumbed to the world and it’s desires over God and obedience to His word.

    I believe as a country our days are numbered. It has happened quickly since a nobody by the name of Obama surfaced and was elected.

    Think about it. Nobody knew anything about him except his Chicago community organizer days, and the Chicago politicians, Pelosi, Reid. His records are sealed. His college transcripts are sealed.

    Reid, Pelosi knew if they used a black man and racism they could win over the black vote which they had been to do for years.

    Only God could have done all this.

    • The Enemy

      G. Black: The Scripture found at 2 Timothy 3:12-15 further verfies the realities you speak of.

      In that Passage, it mentions “evil men and imposters”. We who are paying attention can see who they are in America, and they are the upper echelon in DC. The “imposter” stands out clearly now, as you eluded-to.

    • Bree,

      Dear G. I totally agree with all you have stated here and I could further prove it to be true with chapter and verse but instead just be wise concerning the end times. America as we have known it is coming to an end and this is just the beginning of that end. God is in control. God bless you and thank you for your post.

  • MistyinGa

    @g.black you got that right just left my aunts house who is a devout christian and she said the same thing! I firmly believe that Barack is the forerunner to the antichrist as do alot of people I’ve spoken to. I just hope your right about the rapture coming before the tribulation.

  • Joyce from Loris

    Can this economy be saved? NO. It’s gone too far, too deep, and no one in power is concerned with the average, every day American. NO ONE. So, it must collapse completely, all welfare, food stamps, medicaid, government handouts, government employees… gone. When the worthless finish killing each other, then the survivors can build a better country, like it started out as. Remember our nations birthday next weekend by singing “God Bless America” everywhere you go, and encourage others to do the same. You never hear that song anymore, because everyone is afraid to “offend” someone. Sing it LOUD!!

    • The Enemy

      Joyce: Yes, a total collapse is imminent. But we won’t see a resurgence of the America we love. Instead, we will be in the “one-world economy” which has but two classes of people; the rich and the poverty-stricken.

      If a total earthquake doesn’t hit the political structure in DC next year, we are cooked. It will be good-bye America, hello one-world socialism.

  • The Enemy

    In answer to the headline, “CAN THIS ECONOMY BE SAVED”, the short answer is, “NO”.

    It can’t be saved without a total overhaul of the political structure in DC. And with all the various groups of liberal voters, who have been bought with our tax money, that just ain’t gonna happen.

    • Bree,

      Enemy, I so agree with you and the truth be told only God can save us now. But for we who believe, he has made a way for us so we do not fear. Just look up, our redemption draws near. Blessings!

  • FairTaxer

    The answer to our economic woes can be summed up in one word…. FairTax !

    It will allow this country to generate wealth by bringing in offshore capital, creating new businesses and JOBS ! We would be the envy of the world. EVERYONE (including the Chinese) will want to do business here. A GDP growing at 15% every year solves 99% of our problems !