HomeArticlesIs the “Do-Nothing Congress” Responsible for Job Growth?

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Is the “Do-Nothing Congress” Responsible for Job Growth? — 1 Comment

  1. Do nothing; do something and do the wrong thing, are catchy descriptions that would apply to how Congress has acted recently. The first description of , do nothing would reflect how little actions have been taken to curtail , too big to fail banking. Next in line, is the legislation on some kind of national health reform as an example of , do something. Finally, the administration experts in foreign policy have taken the State Department down the path of , do the wrong thing. It should be clear to everyone by now, the investment banking and the mortgage lending industries acted unethically for decades while government oversight commissions turned a blind eye to the wrongs. And, the government continues the same risky practice of underwriting or insuring loans. $500 million dollars of Solyndra Energy debt will likely fall on the government as the insurer of their loans; and, ultimately the cost will be shouldered by the US taxpayer. This is a continuation of too big to fail practices by the President. The same kind of government insurance guarantees remain in place for many big banks. Little has been done to stop this kind of policy. Furthermore, the Federal Reserve continues to shore up European banks with $trillions of dollars in loans.

    There is much heated debate over Res. Obama’s healthcare plans. Intertwined in the healthcare debate is the looming bankruptcy of the Social Security retirement system. Economist have characterized the Social Security plan as a ponzi scheme on the verge of collapse. It seems the government’s solution to the insolvency of social security and the future cost of national healthcare plans is to have the Treasury … print more money.

    If there was a lesson to learned from the Iraq War then it would be … don’t do the wrong thing. But, a majority of voters would say that the invasion and 9 year occupation of Iraq was not in the best interests of the country. The US foreign policy is confused. The security of Europe must be the responsibility of European powers. The US ought not be the primary force behind the security of the Mediterranean Sea. Nonetheless, the US security pact with Israel would remain unchanged. At the same time the US must turn its attention to the security of the Far East.

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