"A victory for social democracy even after most of Europe has come to the painful conclusion that social democracy leads to mediocrity, failure, unemployment, inflation, higher taxes and economic stagnation."
This is how some in the UK viewed BO's victory.
We agree with them.
Let's say "cheers" for the House Republicans. We are very happy to see Rep Paul Ryan preview the Republican budget:
"House Republicans will offer an alternative plan.
This too is no ordinary budget.
As the opposition party, we believe this moment must be met by offering the American people a different way forward -- one based on our belief that America is an exceptional nation, and we want to keep it that way.
Our budget applies our country's enduring first principles to the problems of our day.
Rather than attempting to equalize the results of peoples' lives and micromanaging their affairs, we seek to preserve our system of protecting our natural rights and equalizing opportunity for all.
The plan works to accomplish four main goals:
1) fulfill the mission of health and retirement security;
2) control our nation's debts;
3) put the economy on a path of growth and leadership in the global economy; and
4) preserve the American legacy of leaving the next generation better off."
Rep Ryan's post in The WSJ is very thoughtful.
It clearly provides the alternative.
We continue to say that Pres BO's deficits are unsustainable. You can not run federal budget deficits of 10% of GDP for years without serious consequences.
The Republican budget proposal also addresses two important things:
1) it cuts the corporate tax rates;
2) it rewards people who pay taxes rather than those who don't!
We have a choice.
We can be the US or we can be socialist Europe!
