Monday, July 19, 2010

Reaganomics Rules - Obamanomics Fools

By Lurita Doan

The recent flap between Pelosi and the White House over the mid-term elections shows two things clearly: Dems in congress are running scared and they are looking for someone to blame for their poll problems and their failed fiscal policies.  In the past, Dems, who have blamed Bush, are now blaming Ronald Reagan for everything from the economy to the BP oil spill. 

Reaganomics, so often derided by liberals, was an economic stimulus that fueled over 20 years of U.S. economic growth, job creation, prosperity, and international power.  Obamanomics, in just 18 months, has been a spectacular failure, creating the potential for a $22 trillion dollars of public debt by 2020 that will take another 20 years to repay.  While, internationally, Obama’s bowing, scraping and tin-cupping has created an image of weakness.

Four basic principles guided Reaganomics: reduce government spending, reduce government regulation, reduce federal income/capital gains taxes, while managing inflation through currency control.   Conversely, Obamanomics represents a 180 degree shift from Reaganomics.  After 18 months, all Obama can show is increases in government spending, increases in government regulation, increases in federal fees/taxes, timidity on the international stage, combined with a spendthrift philosophy which implies money does grow on trees in DC…

Ronald Reagan once said that “government is not the solution to the problem, government is the problem”, and with the failure of Obamanomics, Obama has proved by his actions that Ronald Reagan was right.

Read more here…

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