The President’s latest plan to stimulate the economy will not work because it does not deal with the core economic situation we are facing. The problem stems from the fact that Americans are not spending. This is huge when we understand that the majority (70%) of our economy is consumer driven. The American people are not spending because they lack confidence. In fact, consumer demand has declined 10% over the last decade. Too many consumers are filled with uncertainty caused by the high unemployment rate, the increasing federal debt, expected tax increases and the threat of ObamaCare.
We need to create jobs, jobs and more jobs . . . now! Historically, the only thing that has worked consistently has been cutting taxes paid by the
individual. We need to extend the Bush tax cuts. We also need to create new tax cuts. As a result, consumers will spend more, and industry will respond to the increased demand by creating jobs and hiring people to boost production. We also need to cut federal spending, reform entitlements, defund ObamaCare immediately, and start working on broad tax reforms. This will provide the stability needed to create jobs, jobs and more jobs!