Tuesday, June 24, 2008

Kennedy & Reagan Agree - It's the Economy Stupid!

Dr. Bill Smith, ARRA Editor: The following insightful words of two former revered Presidents shows clearly the track to National economic success which has developed the most vibrant economic system in the world:
It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.” — John F. Kennedy

“First, if I may, I’d like to establish the scope of the topic under discussion. For when we speak about the economy, we’re dealing with more than mere numbers, more than statistics about productivity and employment. We’re dealing instead with one of the most basic aspects of human existence: We’re dealing with the way the great majority of men and women spend most of their hours, most days, throughout the most productive years of their lives...I believe it’s important to remind ourselves that in dealing with the economy we’re dealing with human creativity. This insight has represented the underpinning of our economic expansion. We cut tax rates, reduced government regulation, and restrained Federal spending; and we unleashed the creativity of individuals and businesses. We gave them freedom to create; to keep the rewards of their own risk-taking and hard work; and to reach for new, bold ideas.” — Ronald Reagan
Two years ago, Congressional Republicans paid the price for following the wide path of their Democrat colleagues and pursuing the "congressional pork gravy train." Wastefully and increased spending by the Government has eventually slowed our economic growth. If it were not for the Reagan-Kennedy type Bush tax cuts, the economy would have slowed to a stop.

The present liberal Democrat leadership of Congress appears hell-bent on destroying our economy by pursuing increased taxes, spending via redistribution of wealth schemes and restrictions on business. The liberals hatred of President Bush exceeds their ability to do right by and for American citizens. Although Bush will be gone in less than seven months, these liberal, progressive democrats are focusing on the killing America's golden goose - our economy.

Our economy is the envy of the world and has raised the American standard of living to an all time high. To save our economy, our leaders need to listen to the words of Presidents Kennedy and Reagan: cut taxes, retrain government spending, reduce government regulation, and unleash the creativity of individuals and businesses.

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