Less spending, more jobs
Published: Monday, December 3, 2012, 12:01 a.m.
Updated: Tuesday, February 19, 2013
Both Kathleen Bollinger's letter that “it takes private sector jobs, not public sector spending to fix the economy,” and George Wesolosky's letter that “wealthy creators, American small businesses” need government support to stimulate the economy, can be better appreciated when you understand President Obama's economic policies.
He basically follows the Keynesian economic beliefs that a government can spend its way out of a recession. This prolonged recession — the four-year, 8 percent unemployment, the doubling of gas prices and the drop of middle class income — has again proved that this “print more money” approach does not work.
Neither will the simplistic belief that raising tax rates will automatically increase tax revenues to the government. Further increases from our present tax rates will only further slow our already weak economy. Job producers will be less likely to expand and hire under the burden of higher tax rates and more regulations. Fewer workers and less expansion will produce less, not more, tax revenues to our government.
Only the cutting of government spending and the removing of unnecessary regulations and taxes on job producers will help balance the federal budget and avoid a greater recession.
- NHL insider: Penguins’ Shero seems ready to move Letang
- Bethel Park offensive lineman Grimm picks Pitt
- Penguins notebook: Pens talking with Dupuis’ reps
- Pirates notebook: Beanballs escalate tension against Reds
- Huge sinkhole in West View detours Route 19 traffic
- Judge: Murrysville man deserves jail time for collecting child porn, threatening postal inspector
- Pitt gets commits from QB, local RB
- Firefighters quickly extinguish Downtown restaurant fire, no one hurt
- 3 former Carlow employees claim age discrimination in firings
- Pirates announce signing of first-round pick McGuire
- ‘Green thumb’ robber steals cash, greenhouse plants
You must be signed in to add comments
To comment, click the Sign in or sign up at the very top of this page.
Subscribe today! Click here for our subscription offers.