Letter to the Editor: The GOP crushed consumer confidence
By Waller H. Wilson
The Republicans won? How is that? First you have to understand that the Republicans never intended to defund Obamacare. Even if Republicans were able to get a bill through Congress, Obama would veto it. The Republicans are not dumb. They knew from the start that defunding Obamacare was not possible. That was not their objective. As the minority party, all they wanted to do was to screw up the economy by crushing consumer confidence. And they did that in spades, yet again.
Did you or a loved one lose a job as a result of the economic meltdown. If so, you can blame it on the economy. And you can blame the continuing poor economy on the Republicans.
The Republicans got us into this mess. Anybody disagree with that?
As a direct result of the Bush administration’s catastrophic economic meltdown in the fall of 2008, the Republicans lost the presidential election. Instead of acting as if they wanted the economy to improve, the leaders of the Republican Party stated that they wanted Obama to fail. If the president fails, what do you think that means for the economy and jobs?
Notwithstanding the fact that Democrats voted to support the Bush administration’s efforts to right the economy, including the Republicans’ Economic Stimulus Act of 2008, the Republicans have voted against every attempt by Obama and the Democrats to get the economy going again. That was a wise thing to do if you wanted Obama and the economy to fail. But it was not good for those who lost their jobs. And it was not good for the U.S. or the world economy.
It is a good thing to balance the budget. In normal times you should balance your personal budget and the federal government should balance its budget. However, if you have lost your job and you know that with new skills you can get a new, good paying job, maybe you should invest in yourself, spend your savings or go into debt or go even further into debt in order to qualify for and get that better job. Example: You are a good driver, You like to drive. You have a good driving record. Drivers of big rigs make very good money. But you don’t have the necessary Commercial Driver’s License. Why not stretch your personal budget, take a course and get that license? Get that good job. Use the money to pay off debt and balance your budget.
The Republican Party has this mantra: we must cut spending in order to balance the budget. You need to balance your own budget. The “economic engine” that will enable you to balance your own budget is a good job. What is the “economic engine” that will get the U.S. economy going again? Have you heard about the Republican’s “economic engine?” Of course not. They don’t have one. Neither did all those European countries which are now much worse off than we are. They might have balanced their budget, but Europe’s unemployment rate is much higher than our own.
What is our “economic engine?” You! Yes, you! Consumer spending accounts for approximately 70 percent of the U.S. economy. Consumer confidence is the key. Without it consumers hesitate to spend. When investors are worried about the future of consumer demand, they decide not to invest. Which means they don’t create jobs.
This is why the Democrats keep saying we must invest money we don’t have on infrastructure and other projects. By doing so, the government creates jobs in the private sector. The people who get those jobs will spend the money they make creating still more jobs, thereby getting our economy going again. When the economy grows, tax revenues increase and we can balance the budget.
Because the Republicans wanted Obama and his economy to fail, they created the recent crisis that crushed consumer confidence, thereby winning the recent standoff. You and your dream jobs are collateral damage.
You can’t blame the problems with our economy on Democrats because it was the Republicans who prevented Obama from succeeding.
Vote Democratic this November and next. Give the Democrats a chance to succeed! And if they fail, then we should throw them out of office in 2016.
Waller H. Wilson if a resident of Front Royal