Friday, December 4, 2009

Dust Storms and the Economy

Well, here's a broad topic. The U.S. economy. We all know it's not going in the direction we want it to. Everyone has their own ideas about how to improve it. Here's what I think we should do.

First of all, we should lower taxes. Feeding the government money, and counting on it to force the economy into shape, isn't helpful. The economy thrives on opportunity, and if we really want to see it improve, we should give it as much space to grow as we possibly can. With lower taxes, the citizens will have more money, more opportunity, and the economy will improve. It's also been argued that, historically, the economic benefits of tax cuts are powerful enough that tax revenues don't decrease in the long-term.

Second, we should reduce government spending. The federal deficit is greatly increasing and I believe the national government is overextending itself. This goes beyond the economy for me as I believe the government is getting too involved in things that may be best left to the public: health care, network neutrality, and so on. Keep it simple.

Finally, we should not hinder new economic opportunities, such as oil development in Alaska. We do want to get away from oil dependency in the future, but holding oil supplies and the economy back is not the right approach. We need to develop alternatives first. For now, though, oil development in Alaska is an economic opportunity that we should take advantage of.

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