A Void In Economic Leadership

The Labor Department announced that the economy lost 49,000 jobs in May and unemployment increased to 5.5%, the largest monthly increase in unemployment since 1986.  The economy has lost jobs every month so far this year and when Bush leaves office his job creation record will be pathetic. 

 

Budget deficits and creating debt continues to be at record levels under Mr. Bush.  That is a sure way to a failed economy and insufficient job creation for an expanding work force.  This administration reversed all the benefits the Clinton administration created for the economy and the people.  And the sad part is that in a Presidential election year only Senator Clinton said her administration would return to balanced budgets.  The other candidates, both republican and democrats never spoke to the issue during the campaign.  That includes Obama and McCain, the nominees of their party.

 

If any one thinks we can have a sustained and growing  economy, low inflation, low unemployment and steady job creation without a balance budget and creating debt please name that administration.  The only administration to accomplish that in the past 50 years was the Clinton Administration.

 

Congress is about to vote on a multibillion dollar bill that includes over $150 billion for Iraq thru next year with no way to pay for it.  Lets see how Obama and McCain vote on this bill.  They may even skip out on the vote and blame it on campaigning.  A likely excuse and a failure of leadership if that happens.

 

Both Obama and McCain should be talking and promoting the greening of America to begin early in the next administration.  They should be talking about balancing the budget and creating surpluses as Clinton did instead of adding debt to the record levels we have at the present time.  The Republican ploy of reducing taxes for the most wealthy people does not get the economic job done.  The voters have fallen for that line to often.

 

If Obama and McCain do not take the balance budget issue seriously, forget about any economic prosperity in the future.  A balanced budget will allow our country to fund and pay for needed services.  Retention of the status quo, budget deficits and debt will bankrupt the United States.  Our debt is approaching 10 trillion dollars and cost the tax payers over $400 billion each year for the last two years in interest payments alone on the debt.  Wasted money, something that elected officials are good at.  The voters need to think real hard about what is happening.