
 |
|
Feb. 8, 2013
|
| |
Jewish World Review
June 27, 2011 / 25 Sivan, 5771
America: Greece With Better PR
By
Arnold Ahlert
| 
|
|
|
| |
|
http://www.JewishWorldReview.com |
There are two ways of pulling a band-aid off a freshly-healed scab. One way is to grit one's teeth and give it a good yank. The other is to pull it off bit by bit. The first method is more painful, but the duration of the pain is short. The second method is seemingly less painful, but it takes far, far longer to achieve the same result.
Most Americans don't know this country had an economic depression from 1920-1921. In fact, by the middle of 1920, the downturn had become so severe that America's Gross National Product had declined by 17 percent, even as unemployment tripled from 4 percent to 12 percent. At the time, Secretary of Commerce, Herbert Hoover, pleaded with President Warren G.Harding to get the government involved in saving the economy.
So why are so few Americans aware of this particular downturn? Because Harding ignored Hoover. Between 1920 and 1922, Harding cut the federal budget in half, reduced the national debt by a third, and slashed taxes for every income group. The Federal Reserve? "Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction," is how one economic historian described their actions. By 1921, the unemployment rate was 6.7 percent. By 1923, it was 2.4 percent.
In other words, Harding decided to rip the band-aid off the scab quickly.
Why can't we do the same thing today? In his speech accepting the Republican nomination for president in 1920, Harding declared that "[W]e will attempt intelligent and courageous deflation, and strike at government borrowing which enlarges the evil, and we will attack high cost of government with every energy and facility which attend Republican capacity. We promise that relief which will attend the halting of waste and extravagance, and the renewal of the practice of public economy, not alone because it will relieve tax burdens but because it will be an example to stimulate thrift and economy in private life."
| RECEIVE LIBERTY LOVING COLUMNISTS IN YOUR INBOX … FOR FREE! |
| Every weekday NewsAndOpinion.com publishes what many in the media and Washington consider "must-reading". HUNDREDS of columnists and cartoonists regularly appear. Sign up for the daily update. It's free. Just click here. |
|
When was the last time you heard any progressive or "compassionate" conservative characterize government borrowing as "enlarging evil," declare themselves willing to practice "public economy," "relieve tax burdens," or set an example of "thrift and economy" among the American people? As far as Obama and company are concerned, and that includes Fed chief Ben "economic headwinds may be stronger than we thought" Bernanke, the solutions to our current economic plight are the antithesis of everything that worked in the 1920s. They want to pull the band-aid off the scab atom-by-atom, even as those headwinds battering our so-called recovery get stronger and stronger, and the pain of high unemployment lasts longer and longer.
And you know why they can get a way with it? Because the word evil, with respect to massive amounts of deficit spending, or just about anything else for that matter, no longer has relevance. Because just under half of America (you'd better pray) is as addicted to government handouts as any crack addict looking for his next high. From the crony capitalists to the welfare miscreants and everywhere in between, the self-entitlement crowd is lining up at the government trough, in a complete mockery of anything resembling "thrift and economy in private life."
Right now America is nothing more than Greece with better PR. And note I said right now, because at the rate we're going, we're well on our way to making that country look like amateurs by comparison. I said it before and I'll say it again: if the Democrats insist on crashing the economy because they can't get a tax increase as part of the deal for raising the debt ceiling, Republicans, who are still out-numbered two-against-one in this game of fiscal chicken, should agree to a modest increase in income taxes on the so-called rich provided that income taxes are also imposed on the 47 percent of Americans who pay no income taxes at all.
Make it one percent. You make 10 grand, you pay a hundred bucks for the upkeep of the greatest nation on earth. America can no longer tolerate a permanent "free lunch crowd," and if Democrats refuse to go along, at least they'll be exposed as the vote-buying, class-warfare frauds some of us know they truly are. Let the same bunch who rails about giving "tax breaks to billionaires and millionaires to balance the budget on the backs of the poor" explain how a hundred bucks out of every 10 grand someone earns is "too much to expect" when the country is staring at fiscal Armageddon.
Meanwhile, with respect to the 2012 election, Americans themselves are going to have to decide how much longer they want to put up with Keynesian economic "headwinds" whose existence remain puzzling to those directly responsible for creating them. Progressive ideology, whether it is practiced in the name of tax-and-spend liberalism, or compassionate conservatism, is utterly bankrupt. The national credit card is maxed out. When Greece implodes and it will implode take a good, long look. It's not the canary in the coal mine. It's the Ghost of Christmas Yet to Come. And the name on that headstone isn't Ebenezer Scrooge.
It's Uncle Sam.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
Comment on JWR Contributor Arnold Ahlert's column, by clicking here.
Previously:
06/23/11: NBC-ya Later
06/19/11: One Man's Conversation About Race
06/10/11: An Exhibitionist in an Exhibitionist Age
06/07/11: NAACP Betrays Black American Schoolchildren
06/02/11: For the First Time in My Adult Life . . .
05/31/11: If I Were President
05/25/11: California Dreamin'
05/23/11: On Wisconsin!
05/20/11: Obama's Farewell to Israel Speech
05/16/11: Krauthammering Amnesty
05/11/11: Bounce, My Backside
05/09/11: The Epicenter of Progressive Contempt for the Rule of Law
05/03/11: SEALing Osama's Fate
05/02/11: The Education plantation
04/24/11: The Bell May Toll for Jersey Toll Collectors
04/19/11: From Medical Dependency to Dependency on the Welfare State
04/14/11: Trumping the Debate
04/06/11: It Takes a Bigot to Expose a Death Cult
04/04/11: Charlie and Snookie --- and Barack
03/30/11: Disabling America, One Lawsuit at a Time
03/28/11: The MSM Kills the Kill Team Story
03/23/11: Another Military Scandal
03/21/11: Barry, Joe, Helen and Wisconsin Teachers
03/16/11: The Inevitable Viability of Conservatism
03/14/11: Progressives in Their Own Words
03/09/11: $61 Billion in Cuts --- Vs. $223 Billion in One Month of Spending
03/07/11: Bean Bag B.S.
03/02/11: A Green Catastrophe in the Making
02/28/11: Ain't Noting Like the Real Thing
02/23/11: Progressive Rot vs. the ROTC
02/21/11: Wisconsin: Progressivism in All its Ugly Glory
02/18/11: News reporters --- or Narrative Shapers?
02/16/11: The Presidents Budget Proposal: An Obamination of Progressive Profligacy
02/14/11: Only Another 9/11 Will Alter the Illegal Immigration Status Quo
02/10/11: Is O'Reilly losing his touch or is he just irresponsible?
02/07/11: Tossing Britain Under the Bus
02/03/11: Starving the World In Order to Save It
01/31/11: Walking the Middle East Tightrope
01/27/11: Small-scale Terrorist Attacks: Big Strategy?
01/24/11: Jeffery Immelt: A Crony Capitalist In Charge of Job Creation
01/20/11: An Intimate Prime-time Interview
01/17/11: Progressives: Always Angry, Newly Desperate
01/12/11: Twain vs. the Totalitarians
01/10/11: Politically Correct Passports?
01/05/11: Showdown at the Fiscal Corral
01/03/11: Reading the Constitution Aloud is a Good Start
12/30/10: Getting Our Moral Mojo Back
12/27/10: PC Airport Safety is an Oxymoron
12/23/10: Getting America Back On Track
12/20/10: A Collectivist Coalition of Convenience
12/15/10: The President Who Wasn't There
12/13/10: Tech-No!
12/08/10: A Lethal Military, Inclusive or Not
12/06/10: The Unexpected Consequences of Progressivism
12/01/10: Leakers and Losers
11/29/10: We Won, Part One
11/22/10: Keep Your Hands Off My Constitution
11/17/10: Grope and Change
11/14/10: Taking Back Our Country, One School At a Time
11/11/10: Checks (and Balances), Please
11/08/10: Curtain Up, Progressives Down
11/04/10: Last Chance, Republicans
11/01/10: By Their Own Words Shall Ye Know Them
10/28/10: Progressive Determination to Undermine American Elections
10/25/10: Shock, but more importantly, action: De-Unionize Public Schools now
10/20/10: Multiculturalism? Check, Please
10/18/10: Healthcare: Alice in Wonderland vs. The Constitution
10/11/10: Vote for Restoring the Rule of Law in November
10/11/10: Dems: Running From Clarity
10/07/10: Hypersensitive Hogwash
10/04/10: Comprehensive Con Artists
09/29/10: Why Dems Are Going Down in November
09/27/10: The Unholiest of Unholy Alliances
09/22/10: Two Words for Republicans to Remember: I Won
09/20/10: Purging Me First Politicians
09/17/10: No More Lesser of Two Evils
09/15/10: Recovery Arms Race
09/13/10: Bigots in the Majority --- Again?
09/09/10: Giving Voters Something to Vote For
09/07/10: Irresponsible Dems, Incomprehensible Bills
09/02/10: War Weary Americans vs. Implacable Islamists
08/31/10: A Dream Debased
08/25/10: American Bigots Versus Media Propagandists
08/23/10: Recovery Bummer
08/19/10: An Unholy Alliance of Radicals
08/16/10: You've Lost America, Mr. President
08/13/10: The Twin Towers of Progressive Disconnect
08/11/10: A Far Better National Discussion
08/09/10: It's Only One Dead Nun
08/06/10: Incremental Tyranny
08/04/10: Ground Zero Mosque: Context Counts
08/02/10: The Arizona Ruling: a Gift for November
07/29/10: The United Cities of America
07/26/10: JournoList: Coordinated Ideological Bankruptcy
07/20/10: Go For Broke Or Get Out of the Way
07/14/10: You're a Liberal/Progressive if You Believe…
07/12/10: $33-an-hour--For Sleeping On the Job
07/08/10: Extortionist Government
07/06/10: Commerce Clause Totalitarians
07/01/10: Another Public School Travesty in MA
06/30/10: Calling YOUR Bluff, Mr. President
06/28/10: A Trifecta of Progressive Corruption
06/23/10: Plug the Darn Hole --- In Our Border
06/21/10: Our Empty-Suit-in-Chief
06/16/10: Betraying Our Children
06/14/10: Who Gets the Benefit of the Doubt?
06/07/10: Politically Correct Warfare
06/01/10: Bill Maher's Black President
05/25/10: A Mosque At Ground Zero
05/23/10: Libs Stand Tall --- For Mexico
05/19/10: The 'Unintended Consequences' of Liberalism
05/17/10: 'Los' Suns: Stuck on Stupido
05/12/10: Union Audacity: Yes We Will!
05/10/10: Greeks, Leaks and and Double-Speak
05/05/10: Twelve Million Illegals --- or Thirty?
05/02/10: Republicans: Playing Not to Lose Doesn't Cut It
04/28/10: Arizona: Progressivism's Waterloo?
04/26/10: Son of Amnesty
04/22/10: Mortgages and Moral Meltdowns
04/20/10: Bashing Christians Or Gays?
04/15/10: Personal Integri-tea
04/12/10: Fools, Tools and Ghouls
04/08/10: (Tea) Party On
04/05/10: The Triumph of Mediocrity
04/02/10: Two For the Road
03/29/10: The Innate Immorality of Liberalism
03/24/10: The Art of War
03/22/10: I Want My Country Back
03/18/10: A Perpetual Process
03/17/10: American Exhibitionists
03/15/10: A Light Bulb Moment of Clarity
03/10/10: Little Things Mean A Lot
02/03/10: Budgetary Fork in the Road
02/01/10: Liberal Economic Illiteracy
01/27/10: Roe-ing and Wade-ing Back to Reason
01/25/10: Arrogance When Up, Denial When Down
01/20/10: Connecting the Educational Dots
01/19/10: The Next Tea Party?
01/15/10: The Myth That Keeps on Giving
01/13/10: Airport Security Begins Away From the Airport
01/11/10: Secrets and Lies
01/08/10: Embracing Bigotry or Rejecting Bullying?
01/06/10: Hanging by an Ideological Thread
01/04/10: Our Wonderama Bureaucracy
12/30/09: A Day Off
12/28/09: Dangerous Myths
12/25/09: I, Me, Mine
12/23/09: A Very Harry Christmas
12/21/09: My Opinon
12/18/09: The Party of Repeal
12/15/09: Privileged Exemption
11/30/09: Settled Science and Unsettled Children
11/30/09: American Sharia Law
11/23/09:The Trial (Travesty) of the Century
11/04/09: American Vampires and Their Political Enablers
11/01/09: Opting Out of Insanity?
10/28/09: Cell Phones Cause Brain Cancer. Brain Required
10/26/09: Communism: Nazism With Better PR
10/21/09: Just Asking
10/16/09: Cost Projections vs. Actual Costs, or Hope and Change vs. Reality
10/14/09: News you can use …
10/07/09: Incremental Insidiousness
10/05/09: MIA: Common Sense and Common Decency
09/30/09: Iran: Bad Options and Unpreparedness
09/21/09: Crying Racism: the Last Refuge of Scoundrels
09/11/09: 9/11 Cannot Be Sanitized
09/08/09: Truthers and Consequences
09/01/09: A Paper Trail Challenge for the Mainstream Media
08/31/09: Drowning in Amorality
08/26/09: The Republican Recovery Program
© 2011, Arnold Ahlert
|
|

Arnold Ahlert
Mitch Albom
Jay Ambrose
Michael Barone
Barrywood
Lori Borgman
Stratfor Briefing
Mona Charen
Linda Chavez
Richard Z. Chesnoff
Ann Coulter
Greg Crosby
Alan Douglas
Larry Elder
Suzanne Fields
Christine Flowers
Frank J. Gaffney
Bernie Goldberg
Jonah Goldberg
Julia Gorin
Jonathan Gurwitz
Paul Greenberg
Argus Hamilton
Victor Davis Hanson
Betsy Hart
Ron Hart
Nat Hentoff
Marybeth Hicks
A. Barton Hinkle
Jeff Jacoby
Paul Johnson
Jack Kelly
Ch. Krauthammer
David Limbaugh
Kathryn Lopez
Rich Lowry
Michelle Malkin
Jackie Mason
Ann McFeatters
Dale McFeatters
Dana Milbank
Jeanne Moos
Dick Morris
Jim Mullen
Deroy Murdock
Judge A. Napolitano
Bill O'Reilly
Kathleen Parker
Star Parker
Dennis Prager
Wesley Pruden
Tom Purcell
Sharon Randall
Robert Robb
Cokie & Steve Roberts
Heather Robinson
Debra J. Saunders
Martin Schram
Culture Shlock
David Shribman
Roger Simon
Michael Smerconish
Thomas Sowell
Ben Stein
Mark Steyn
John Stossel
Cal Thomas
Dan Thomasson
Bob Tyrrell
Diana West
Dave Weinbaum
George Will
Walter Williams
Byron York
ZeitGeist
Mort Zuckerman

Robert Arial
Chuck Asay
Baloo
Lisa Benson
Chip Bok
Dry Bones
John Branch
John Cole
J. D. Crowe
Matt Davies
John Deering
Brian Duffy
Everything's Relative
Mallard Fillmore
Glenn Foden
Jake Fuller
Bob Gorrel
Walt Handelsman
Joe Heller
David Hitch
Jerry Holbert
David Horsey
Lee Judge
Steve Kelley
Jeff Koterba
Dick Locher
Chan Lowe
Jimmy Margulies
Jack Ohman
Michael Ramirez
Rob Rogers
Drew Sheneman
Kevin Siers
Jeff Stahler
Scott Stantis
Danna Summers
Gary Varvel
Kirk Walters
Dan Wasserman

Mr. Know-It-All
Ask Doctor K
Richard Lederer
Frugal Living
On Nutrition
Bookmark These
Bruce Williams
|