Scott's Choice





The Government and the Economy



14 September 2011

In 1929, President Hoover and Congress initiated the chain of events that would bring about the Great Depression by passing the Hawley-Smoot Act. President Roosevelt's socialist policies prolonged and worsened the Depression. Even his own economic advisors later admitted that. It was not until those laws and regulations began to be undone that the U.S. economy began to recover, and it was not until 1954 -- 25 years later -- that the U.S. economy again reached the levels it had seen in 1929.

In 1999, President Clinton initiated the chain of events that would bring about the worst recession since, when he required banks to make more mortgage loans to people who were not qualified for those loans. The impact was (1) default by those people, hurting their credit ratings, (2) the fall of house and land prices, due to the ensuing glut of homes that banks were unable to resell, and (3) the loss of money by banks which had made those loans, resulting in the lack of available money for legitimate borrowers -- a problem that continues up to the present day, with its consequent impact on economic recovery. Presidents Bush and Obama, like President Roosevelt before them, pursued further socialist economic policies, which made conditions in the U.S. economy worse, not better. The impact has clearly been to hurt the very people whom their policies were supposedly to help. Projections forcast yet further decline, followed by another decade of recovery.

Of course, just as in the post-Roosevelt years, the sooner those socialistic laws and regulations are taken off the books and government non-intervention in the economy is made standard policy -- i.e., free-market capitalism -- the sooner businesses can recover and new businesses can be created, resulting in more and better jobs for Americans throughout the country, more money available for loans and investments, and more wealth for everybody.

See this URL for the latest numbers on employment. It sounds like something straight out of the novel Atlas Shrugged.
Decline in U.S. Income Raises Stakes in 2012 Presidential Race - Bloomberg

And so history repeats itself ... because the right things were never taught in schools. How can voters understand the value of freedom -- the value of individual purpose and action -- if that issue in history is not stressed in our schools? How can economic recessions stop occurring if students are not taught why socialistic governmental practices are the root cause?

Education is the real failure. So many of the socialistic programs sound good to the uninformed ear. They sound like good intentions to those who have not learned their real consequences -- that they are the kind of good intentions that pave a certain infernal road. Lacking an education of relevant history and its principles, future generations cannot help but make the same mistakes all over again.

Answer the issues of the present with political action now.

Answer the issues of the future through education that resolves issues before they occur.

That is why getting involved in either or both areas is so important. To not be involved is to implicitly sanction the alternative. To yield the stage is to allow it to be seized by your opponents. -- for their own purpose and action.


Go to top