The Obama administration's economic policy can be summed up as follows, "what's yours is everyone's." The folks in the White House believe that the only way to achieve social and economic justice in our country is to limit and redistribute wealth, so that the state becomes the entity which the people will rely on for all their needs.
This cradle to grave approach to governing will create a nation of mediocrity at best. It will force all our citizens to depend on government and it will destroy the entrepreneurial spirit that has made America, so far, the greatest nation on earth.
There are fundamental differences between the philosophies of Republicans and Democrats. There exists certain core beliefs about the role of government and the individual that are as different as night and day.
Republicans believe it is the people who should have the freedom to determine their own destiny, free from overdue government intervention, regulation and control. They believe in lower taxes and smaller government.
Republicans believe in "home rule," allowing local governments, closest to the people to have the loudest voice. Republicans believe that government exists to serve the people in the ways the private sector cannot. They believe in "the velocity of money," that is to say, they believe that every time a dollar changes hands privately, it helps the overall economy and creates more revenue through taxes to the government.
Democrats, and more specifically the current administration, believe that it is the role of government to "care for" the population in every respect.
Democrats believe that the wealthy bear most of the responsibility to pay for all others. They believe that wealth should not be inherited and should end with the demise of the person who earned it. Estates should be exhausted and "returned" to the treasury for the benefit of everyone.
Democrats believe in a top down responsibility in governing, that is to say, they seek great power vested in the federal government and less at the local levels to insure that their national strategies are followed to the tee. The current administration believes that government spending on national programs is the answer to creating a healthy economy. High taxes, nationalized health care, redistribution of wealth and more government regulation is their way of controlling all aspects of national life.
Obamanomics is not the cure for what ails us and is certainly not the "change" America needs or wants. The so-called "stimulus" demanded by the president is an utter failure by even his own standards. Obama promised that the monies would be absorbed immediately in the economy and would prevent the nation's unemployment rate from moving beyond 8.5%. We now know that two thirds of the monies appropriated have not been spent and that our national unemployment rate is at almost 10% and in some urban centers it's in excess of 16%. The cap-and-trade bill supported by the administration -- if passed by Congress as advertised -- will greatly increase the energy costs for every single American. The president said that it is the duty of all Americans to pay higher energy costs to create a cleaner environment -- this call comes at a time of one of the worst economies since the Great Depression.
The Holy Grail for the economic and social changes the Democrats have wanted for decades is the implementation of a socialized national health care system. In spite of the fact that the government-controlled health care system currently in place for some members of our population -- Medicare and Medicaid -- is rife with fraud, mismanagement and abuse the Obama administration believes that expanding this incompetence to all Americans is the responsible way to "cure" America's health care challenges.
At a time of severe economic woes the answer is not bigger and more costly government. The answer is a smaller and more efficient government. Now is the time to empower the individual and encourage and incentivize America's entrepreneurial spirit.
Obama's Robin Hood theory of economics will set us back at least 20 years for every year he serves in office. If he is not stopped, he will set in motion generational changes to our country that will take years to curtail or roll back should Republicans regain power.
Bradley A. Blakeman is a professor of Public Policy and Politics at Georgetown University. He served as deputy assistant to President George W. Bush from 2001-2004.
Former deputy assistant to President George W. Bush