September 5-6 – Left-Wing Policies Weaken Our Economy, Security, and Freedom Play Now | Play in Popup | Download

This week, I interview Brian Wesbury, Chief Economist at First Trust Advisors L.P. and economics editor of the American Spectator.  An insightful analyst, Brian accurately predicted in February 2008 that the economy would soon bottom (which it did in March) and become more stable for the remainder of 2009.  In spite of all the bad government policies that have been implemented this year (the $787 billion “Stimulus Plan,” the 2009 & 2010 Federal budgets, and the takeover of two U.S. auto manufacturers).  Brian believes that we will now experience between 8 and 18 months of robust economic growth.  This is because the economy has contracted so much in the past year that the combination of the inventory effect (companies cannot work off inventories forever and must now re-start production), monetary stimulus from the Fed (interest rates remain remarkably low), and continued low tax rates (the Bush Administration tax rates are still in effect) should make the economy bounce back rapidly to its previous level. The problem though, will be ongoing growth.  If President Obama’s Left-Wing policy agenda (socialized health care, union “Card Check,” and the “Cap and Trade” tax on energy) become law, and if the massive Democratic Party led increases on income, dividend and capital gains taxes that are already on the books for January 1, 2011 are not repealed, then Brian fears we will have very sluggish growth if not a double dip recession.  Weak economic performance will lead to even more spectacular ongoing government budget deficits, and poor financial market performance.  These outcomes, of course, would be detrimental to all Americans.

I also interview Frank DeCarlo, Chairman of the Board of Directors for the Veterans Leadership Program of Western PA.  Frank is a Veteran of the United States Army and a Graduate of the United States Military Academy at West Point, NY.  He served a total of 17 years in the Army.  During his service, he spent time in Germany, at the Pentagon, and more recently, in Iraq.  As current Chairman of VLP’s Board of Directors, Frank educates others about the challenges Veterans face when returning from a combat zone to civilian life.  For instance, while most veterans successfully reintegrate into civilian life, some struggle to obtain necessary housing and jobs.  Young Veterans are now twice as likely to be unemployed as their non-veteran counter parts.  Furthermore, while veterans represent only 9% of the total U.S. population, they account for 26% of the homeless population.  VLP offers all of us-regardless of political affiliation-a great opportunity to care for and serve those who fought for our freedom.  On October 29, 2009, VLP will host “A Tribute to Veterans” at the Carnegie Music Hall in Oakland, Pennsylvania.  This is a tremendous community event that celebrates our military and thanks those who have served.  I have personally been involved with the VLP for several years and I recommend this terrific and patriotic event to everyone.   If you wish to sponsor the event, contribute monetarily, or purchase tickets, go to VLPWPA.org or call 412-481-8200.  You can also find information on my web site. All children, students and uniformed military people attend for free.

I discuss the importance of “staying the course” in Iraq and Afghanistan.  Although the month of August was the deadliest for U.S. forces in Afghanistan, and although there is increased insurgent activity in Iraq, we cannot walk away from these responsibilities like we did in Vietnam.  The Middle East is an incredibly unstable region, and if we leave, providing radical Islamic extremists a tremendous victory over us, then we only invite future 9/11s or worse.  We must think in long periods of time.  Despite the early bungling of the occupation, the Bush Administration’s “surge” worked to stabilize Iraq.  We should not destabilize the country now by leaving too quickly.  Whether or not you supported our initial invasion, we cannot allow Iraq to return to ethnic conflict, chaos, and totalitarian control by radical Islamic forces.  We must also now support the Obama Administration and our military in their efforts to stabilize Afghanistan.  This is not a liberal vs. conservative or Republican vs. Democrat issue.  This is an American issue.  We cannot allow Afghanistan to return to Taliban and Al-Qaida control, which would put our own country at risk.  We must be patient and stay the course in both countries for a long time to come.

I also comment on President Obama’s decision to address a joint session of Congress this coming Wednesday in order to “re-launch” his failed healthcare reform agenda.  Although the language may be different, I doubt that Obama will offer any substantive differences.  Before we can develop effective reforms for our health care sector, we must first understand the real problems we currently face.  Current federal programs, such as Medicare and Medicaid, are poorly managed and require significant increases in tax-payer funding to operate at status-quo levels.  Medicare spending increased 25% and Medicaid spending increased 11% this past year alone.  The taxpayer costs for both programs are projected to increase by well above the rate of inflation next year and every year, and the unfunded liabilities this runaway government spending creates now exceed $50 trillion.  The bottom line is that we have only two directions we can go in to solve these problems: we can either centralize more power over our health care in the hands of our government and have the government ration care as proposed by President Obama and the Democrats, or we can enable Americans to take more responsibility for their own health care decisions by instituting market-based reforms.

While this is a direction I do not believe President Obama and the hard Left-Wing Democrats will ever support, real reform should empower individuals to take control of their own health care.  We should dramatically expand Health Savings Accounts, require doctors and hospitals to provide price transparency, stop restricting a national insurance market, eliminate state and federal mandates, and make medical premiums and expenses paid by individuals tax deductible (like they are now for businesses).  Experts call this direction for medical reform “consumerism” and it is the only direction we can go in that is consistent with our culture and values and that will allow our economy to strengthen over time.  I fear that next Wednesday night, President Obama will continue to propose we go in the opposite direction, towards government control and rationing similar to Canada, Great Britain, France, Italy and Germany.  No thanks!!!

Finally on September 9, 2009, I will MC a “tea party” protest rally at Boyce Park ski lodge in Plum Pennsylvania.  The event begins at 6 pm.  Other speakers include Pat Toomey, Republican candidate for the U.S. Senate, and Daryl Metcalfe, U.S. Representative serving the 12^th congressional district in Pennsylvania.  For more information, go to http://teapartyinboycepark.mypoliticalsite.com/.  Please join us!

We must continue to fight against the leftist policies that threaten to destroy our health care, our economy, our national security and our freedom.