"A tax cut means higher family income and higher business profits and a balanced federal budget.... As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance." JFK
Recently, Sen John Cornyn reminded us of this quote. A congress willing to vote on extending the tax code in place for the last decade - the "Bush" tax cuts - to all Americans would go far to bolster our sagging economy and high unemployment rate. A congress willing to submit a federal budget for a vote would be a confidence builder, too. Congress has not failed to pass a budget for decades, yet this Democrat controlled Congress, along with a Democratic president, has done so.
President Obama went to Kokomo, Indiana to crow about the perception of bail-out success at the GM plant there. Full of himself, as is his persona, he bragged: “We made the decision to stand with you because we had confidence in the American worker,” he said. “So here’s the lesson. Don’t bet against America. Don’t bet against the American auto industry. Don’t bet against the American ingenuity. Don’t bet against the American worker.”
As the article reminds the reader, the government - you and me - sunk $50 billion dollars to save jobs and now own 60% of the company. Then, since he is in full blown campaign mode for his re-election, he wants everyone to feel good about the expenditure. Don't bet against America? Who was doing that? The critics of these endless bail-out were betting on America and the American entrepreneurial spirit. It is not in our nature to encourage governmental take-over of private industry. We do not want to become Venezuela.
Obama and his entourage from Washington went to Indiana because it is a swing state in recent election history. It is a red state after the last election, the mid-term elections in November. This is troubling for Team Obama. They would like to count on the Hoosier state for Obama's re-election in 2012, as the state went for him in 2008. Not. Gonna. Happen.
Oh yeah, Obama and sidekick VP Joe Biden also stopped in for a deep fried fix at a bakery purchased with stimulus funds. Coincidence? Sure it was.
You know what betting on America looks like? It would be a Presidential visit to a Ford plant to thank them for their hard work, too. Ford was the only domestic automaker that didn't ask for a bail-out. They are succeeding just fine, thank you.