We are less than six weeks from the upcoming presidential election on November 6th. As we approach Election Day, we continue to be inundated with information in unprecedented volume. With political ads, the major networks, 24 hour cable news, television talk shows, talk radio and the Internet, it is nearly impossible to separate facts from spin and truth from deception. But most importantly, the critical issues on which our votes must be based have become obscured. Of course this happens every election. But this year is different. I believe the survival of our country as we know it hangs in the balance. It is my opinion that all the critical issues of this election fall
under two areas: the economy and international affairs. In this article I will attempt to simplify the decision we have to make.
THE ECONOMY
We have been inundated with endless plans, facts and figures, most of which cannot be validated or confirmed. This confusion can be eliminated with the answer to one simple question: Is our Federal Government spending more than it takes in? I believe every rational person in this country, regardless of political philosophy, can answer this question with a resounding, Yes! In the end the Federal Government is no different than you. If you spend more than you earn, you will eventually go bankrupt. Sure, you can take out loans and charge your credit cards to delay the inevitable. But, eventually, the day of reckoning arrives, and the bills come due.
Our government has been doing the same. It has been spending more than it takes in. Just as individuals put off their day of reckoning by borrowing uncontrollably, our Federal Government has been doing the same by floating bonds. When the government floats bonds, it is borrowing money just as an individual borrows money from a bank when he secures a loan or purchases with a revolving credit card. When it floats bonds, our government is simply borrowing from those who purchase them with a promise to pay back the principal with interest in an agreed time, exactly as an individual does when securing a loan. As we all know, if we fail to pay those loans and interest on time, we default.
Our Federal Government has another tool it can use to put off the inevitable. It can print money. This process is called Quantitative Easing (QE). As an individual, you cannot print more money to pay your loans if you spend more than you earn. The Federal Government, however, prints money to keep interest rates artificially low and to buy back bonds it cannot pay for. On the surface this may seem like a very clever plan. However, eventually, the rest of the world realizes that rather than paying its loans (bonds), the Federal Government has just flooded the international market with more paper, thus devaluing the dollar. Since the purchasing power of the dollar is decreased, more dollars are required to purchase products and services, resulting in inflation. On September 13th, our Federal Government authorized QE3, a third
round of Quantitative Easing. This round will flood the
international market with 40 billion newly printed dollars per month! QE1 and
QE2 established fixed limits for the billions of dollars printed. But,
alarmingly, QE3 was passed open ended, allowing the Federal Government
to print as many dollars as it wishes for as long as it wishes!
When a country continues following this path, eventually the international community loses complete confidence in its currency. The result is economic collapse! Several European countries have reached this point. Greece and Spain have overspent to this point. Since these countries have merged their currencies with the Euro, things are different. The remaining European countries, in an attempt to save the Euro (their common currency) from failing, have demanded Greece and Spain reduce their spending to stay within their income. This has resulted in huge cutbacks in government programs and very painful adjustments by their citizens. So where does this leave the United States of America?
If we continue to overspend as we have, the international community will lose confidence in the dollar. Hyperinflation will result, and the dollar will be nearly worthless, resulting in economic collapse. We have gotten away with this so far, because our economy is so large that the rest of the world economy would be hurt if we collapsed. Sooner or later, however, our day of reckoning will come. If you don't believe this can really happen, note that, for the first time in history, two credit agencies have downgraded the debt rating of the United States! And a lowered credit rating will require the Federal Government to pay higher interest on our debt (bonds), further accelerating the accumulation of our debt. If we don't want this to happen, we must get our spending under control!
This brings us back to the choice of the upcoming election. Since our government is spending more than it takes in, we must find ways to reduce spending. Our overspending has been going on so long that it will require reductions to all government programs. We simply cannot afford them in their current forms. This will be painful to all Americans. Social Security, Medicare and other programs are bankrupt. We must find ways to reduce spending in these and all government programs or face certain disaster. President Obama has not only continued these programs, but he has immensely increased our spending and plans to continue to do so. He has increased our debt from the 10 trillion dollars accumulated by all the presidents before him to 16 trillion dollars in just 4 years! This pace cannot be sustained! It will result in Total Economic Failure!
Governor Romney, on the other hand, is a businessman and, therefore, understands the perils of continuing to overspend. He and Congressman Ryan will reduce our spending to save the dollar and our economy. Make no mistake. Should they win this election they have a very difficult road ahead to reduce our spending. All Americans will feel the pain. But one thing is certain. If President Obama is reelected our economy will surely fail!
INTERNATIONAL AFFAIRS
We are living in complicated and dangerous times, perhaps the most complicated and dangerous in our history. With the terrorist attacks of 9/11, the United States for the first time in its history became vulnerable to attacks within its borders. The situation in the Middle East is extremely complicated and dangerous. Millions of extremist Muslims believe it is their duty to take over the world, impose Sharia Law and kill all infidels! That means anyone who is not a Muslim (Christian, Jew, Buddhist, etc). Their tactics include attack from without as well as attack from within (sleeper cells within our borders). If there were a time in our history when we needed a clear, strong international strategy, now is the time. Its absence only encourages our enemies. Our allies need to be certain the United States will stand with them, and, equally importantly, our enemies need to know we have the will as well as the capability to deliver overwhelming destruction to those who would harm us. The radical slashing of our military budget by our President threatens our very ability to defend ourselves.
Since he took office nearly four years ago, Barack Obama has shown weakness to our enemies and confusion and nonsupport to our allies. He went on a world tour where he apologized for 220 years of U.S. transgressions. He bowed to foreign dignitaries. He failed to define any international policy. He failed to support a democratic uprising in Iran where the people were begging for our support. Instead, he pandered to the Iranian leaders. He insulted our British allies when after his inauguration he returned a statue of Winston Churchill from the White House that was given as a gift. He has withdrawn support from our staunchest ally in the Middle East, Israel. He supported the ousting of Egypt's Mubarak, paving the way for the takeover of Egypt by the Muslim extremist group, the Muslim Brotherhood. Our allies have seen the intentional leaking of top secret information for political gain that embarrassed them and put the lives of their people and ours in danger. The examples are countless, and I will not discuss all of them here.
The result of President Obama's naivete and lack of foreign policy is simply that no one knows where the United States stands any longer. Apologies merely make us look weak to our enemies. Our allies do not know if we will support them, and our enemies do not believe we have the will to retaliate or attack them if they hurt or threaten us. This situation leads to incredible instability throughout the world and encourages aggression. Iran continues to develop nuclear weapons unabated, and Israel finds itself on its own in its fight for its very survival. Terrorist sleeper cells continue to propagate within our borders due to the Administration's failure to acknowledge the existence of the global war on terror and an ongoing failure to protect our own borders. The policies of the current Administration have put us on the precipice of unbelievable carnage around the world and at home!
Governor Romney, on the other hand, has stated he will support our allies and has the will to commit our military if necessary to protect us and our allies and stay the course until we win. He further stated he will reinvigorate our military and ensure it will remain the strongest in the world.
Once again, I believe the choice, here, is obvious. The dangers around the world require a strong, clear leader in the White House. Barack Obama does not provide this. Governor Romney does. Our country and the world cannot afford another four years of President Obama's lack of international leadership and direction.
SUMMARY
The election is less than six weeks away. With inundation of information and constant spin, the issues can seem overwhelming and impossible to evaluate. I do not believe the decision is that complicated. Ask yourself who can turn around and save our economy from certain collapse and who will be a stronger leader with a clear foreign policy that supports our allies, defends us from our enemies and strengthens our military. Then, vote carefully. When this election is over there will be no turning back, and the survival of our nation rests on our choice!
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