Conservatives have, from the beginning of his candidacy for the presidency seven years ago, been critical of our sitting president. It has nothing to do, contrary to some sophist’s convictions, with the color of his skin. And our criticisms are not ad hominem for they aren’t against him personally, but against his policies and what he’s doing to “fundamentally transform America.” So for political clarity, lets enumerate a few areas where conservative political policies would make such a difference to the country.
First, we would not have more than doubled the national debt from $7.6 trillion, when Nancy Pelosi and Harry Reid took over, to over $18 trillion now. As Hillary Clinton said a couple years ago, that’s a national security issue, since it places our entire nation at risk, economically, fiscally, monetarily, and even in terms of our national security. The deficit would not have quintupled from $263 billion when Pelosi/Reid took over, to $1.6 trillion during Obama’s first year, and remained at $1.3 trillion for the past two years. In other words, we would not be borrowing $.41 for every $1.00 that we spend! Contrary to what Pelosi did after she became Speaker, and including the first term of the Obama administration, we would have actually had a budget passed by the congress. Until the concurrent resolution was passed just last year, we had not had a budget passed by congress since 2006. They’ve been simply running up the national credit cards at unprecedented levels with absolutely no budgetary restraint.
After creating an all star panel to assess the budgetary and fiscal crises exacerbated by unabated spending, the president’s Simpson-Bowles Commission recommendations to put the nation on a sound fiscal footing would not have been ignored, but implemented as judiciously and expeditiously as possible. There is still no sign of leadership in resolving the unfunded liabilities, and exacerbated budgetary problems, of Social Security and Medicare. It’s as if the critical mass of those concerns will not be reached during his term in office, so it doesn’t matter, so all that’s occurred is a perpetual “kicking the can” down the road for some future leader who has some backbone and leadership abilities to address them. A 2,700 page legislative monstrosity that took over 1/5th of the national economy to put government in charge of health care would never have occurred. And we certainly wouldn’t have stolen $716 billion (now $741 billion according to the CBO) from Medicare to pay for it. Instead of piling on requirements for “qualified” health insurance policies, the over 2,200 covered requirements would have been removed so people could buy exactly the coverage they want, rather than what the government compels them to buy. And policies could be bought across state lines for increased price competition. Realizing that one of the greatest deterrents to small businesses creating new jobs is the high cost of regulation, the current $11,500 regulatory cost to small businesses per employee (per the SBA) should be reduced by getting government out of the business of micromanaging every aspect of the business environment. And certainly the regulatory burden of small business would not be exacerbated by another 30% with the additional regulatory expenses of Obamacare, FinReg, and expanded EPA regulations. Realizing that our economic model is so severely tainted by crony capitalism, the unhealthy marriage between business and government regulation and policy, it’s time to start unwinding that interconnectedness. The federal tax code for corporations needs to be rewritten, by excluding all loopholes that are favorable to select companies and industries, and create instead a fair flat tax for corporations.
Over the past six years, the Federal Reserve, in the name of “economic stimulus,” has taken over $4 trillion out of banks hands to purchase debt instruments, through the three iterations of Quantitative Easing. There has been negligible benefit other than giving the stock market an artificial high. It’s time to rein in the Federal Reserve, get the FOMC out of the “stimulus” business, and return them to their primary functions of controlling inflation and maximizing employment. Congress and the American people have a right to demand that the chief executive of the country be held to constitutional and legal restraints of his power. He should not act as if he is above the law by selectively picking and choosing which laws would be enforced, and declare existing laws void because the chief executive disagrees with them. And the use of the Executive Order should be used legally, based in existing federal statute, and not creating new laws and regulations with the stroke of his pen. That’s just a beginning. I could go on and on. Those differences would contribute to a more secure fiscal and economic future for the country; a stronger dollar; greater participation in the job market and lower unemployment; a more robust economy and expanding job market; lower cost health care insurance; less crony-capitalistic corruption from the relationship between government and corporate America; less meddling in the private sector; more individual freedom; and less totalitarianism in the Oval Office. Associated Press award winning columnist Richard Larsen is President of Larsen Financial, a brokerage and financial planning firm in Pocatello, Idaho and is a graduate of Idaho State University with degrees in Political Science and History and coursework completed toward a Master’s in Public Administration. He can be reached at [email protected].