This country is currently facing a huge triple threat to its future in the form of deficits: the first is a deficit of trust; the second is a deficit of jobs; and the third is a deficit of dollars.
The current administration and Congress, apparently unable to break free from the bonds of ideological thinking, continue flailing away but repeatedly come back to the table with the same untenable solution and that’s to spend more money.
That’s not the answer. It never has been and it never will be. Government cannot spend its way to economic prosperity. While the deficit of dollars that began in the Bush years was the equivalent of a hand grenade going off in the economy, the onset of the Great Recession and subsequent stimulus spending has resulted in something like the detonation of a nuclear bomb with a mushroom cloud that portends to obliterate any chance at financial prosperity for generations to come.
As long as the specter of a lame economy looms large on the horizon, there’s little likelihood that the deficits of trust or jobs can be reduced either. Government can only gain the trust of the American people when it makes sound policy decisions. Likewise, as long as private sector employers are uncertain of the economy, hiring will be slow to rebound – such as what we’re experiencing right now.