Bringing LIBERTY to
Capitol Hill -- 2008
Saturday Morning, January 19, 2008, 10:30am
A Discussion of The President's Saturday Morning
to listen to a replay of the January 19, 2008 Ozarks Virtual
Notes and Summary of the President's Address --
"Economic Growth Package"
THE PRESIDENT: My advisors and many outside experts expect
that our economy will continue to grow over the coming year, but at a
slower rate than we have enjoyed for the past few years. And there's a
risk of a downturn. After careful consideration, and discussion with
members of Congress, I have concluded that additional action is needed
to keep our economy growing and creating jobs. Congress and my
Administration need to work together to enact an economic growth
package as soon as possible.
How the President Differs from the American vision of
"Liberty Under God":
The Government does not create "economic growth" -- it is
a parasite on economic growth
- The President is proposing the very thing proposed by the
Democrats in their radio address last week.
- The only true alternative to the Democrats and Republicans is a
- Government does not produce, it taxes
- All money taken by the Government from the Free Market is mis-allocated,
by definition (nobody voluntarily allocates their money to the
- All money taken by the Government from the Free Market is mis-allocated
to special interests who resort to government force when
persuasion fails them.
- This misallocation is rationalized by promises which are
illusions; faith in government is like faith in Santa Claus.
- President Bush thus promises to be our Savior, and Taxes are our
offerings to a false god.
- America is, on the one hand, a nation "under
- America is, on the other hand, a nation that ignores God and
- Idolatry is when we fail to trust God (our national motto is
"In God We Trust")
and trust the Government to bring us "salvation."
- Americans must think about these issues, not just in terms of
the Constitution, but in terms of the values enshrined in the
Declaration of Independence -- the philosophy of "Liberty
|THE PRESIDENT: Good
morning. Yesterday, I visited Wright Manufacturing -- a business
in Frederick, Maryland that makes commercial lawn mowers. Businesses
like Wright are the driving force behind our economic success.
They create jobs and opportunities for millions of workers. And
entrepreneurs like those at Wright Manufacturing keep our economy
||This is true. The Government
does not keep our economy growing. But this is exactly what the
President is proposing: a government program to "keep
the economy growing."
|This is a challenging
period for our economy, and I know many of you listening are
concerned about the future. My advisors and many outside experts
expect that our economy will continue to grow over the coming
year, but at a slower rate than we have enjoyed for the past few
years. And there's a risk of a downturn. Continued instability in
the housing market, for example, could cause additional harm to
the overall economy, and put our growth and job creation in
||All of these problems are
created by government programs.
|In recent months, we
have taken steps to shore up the housing sector -- including
measures to help struggling homeowners avoid foreclosure and keep
their homes. I have also asked Congress to pass legislation to
modernize the Federal Housing Administration and enable it to
provide more assistance to struggling homeowners. Congress needs
to send me a bill with these reforms right away.
||The FHA is
- socialistic, and therefore harmful to the economy
It should be abolished for these two reasons.
consideration, and discussion with members of Congress, I have
concluded that additional action is needed to keep our economy
growing and creating jobs. Congress and my Administration need to
work together to enact an economic growth package as soon as
|As Congress considers
such a plan, there are certain principles that should guide their
deliberations: This growth package must be big enough to make a
difference in an economy as large and dynamic as ours -- which
means it should be about one percent of GDP. This
growth package must be built on broad-based tax relief that will
directly affect economic growth -- not the kind of spending
projects that would have little immediate impact on our economy.
This growth package must be temporary and take effect right away
-- so we can get help to our economy when it is needed most. And
this growth package must not include any tax increases.
||Tax relief is good.
But only if it is accompanied by cuts in government
Otherwise government programs will be funded by debasing the
currency ("monetization of debt"), making the money left
in taxpayers' pockets worth less.
growth package should bolster both business investment and
consumer spending, which are critical to economic growth. This
requires two key provisions: To be effective, a growth package
must include tax incentives for American businesses -- including
small businesses -- to make investments in their enterprises this
year. And it must also include direct and rapid income tax relief
for Americans like you.
||So far, all we've heard about
is tax cuts, which is good, but it seems as though the door is
being left open for increased spending to "stimulate"
|Passing a new growth
package is our most pressing economic priority. And when that is
done, Congress must turn to the most important economic priority
for our country -- making sure the tax relief now in place is not
taken away from you. Unless Congress acts, the marriage penalty
will make a comeback, the child tax credit will be cut in half,
the death tax will come back to life, and tax rates will go up on
regular income, capital gains, and dividends. This tax increase
would put jobs and economic growth at risk. So it is critical that
Congress make this tax relief permanent.
||There is a fundamental conflict
in government planning: on the one hand, Bush here says
"growth" is good. On the other hand, the government
wants to curtail growth because it's bad for the environment
and causes "Global Warming."
You should be permitted to spend your money and invest it the
way you see fit.
|I am optimistic about
our economy, because people like you have shown time and again
that Americans are the most industrious, creative, and
enterprising people in the world. That is what has made our
economy strong. And that is what will make it stronger in the
challenging times ahead.
||This is nice rhetoric.
Nobody in Washington really believes it.
|Thank you for
Neal Boortz has suggested
attaching "The Boortz Addendum" to every appropriation bill
offered in Congress. This addendum would read something like this:
Every sponsor or co-sponsor of this legislation hereby affirms his
or her belief that the need for the federal government of the United
States to spend taxpayer funds on the purposes outlined herein is of
greater importance and urgency than any spending needs which the party
or parties who actually earned these funds may have; such needs being,
but not necessarily limited to, spending for medical care, child care,
housing, food, clothing, transportation, education, insurance, savings
and retirement planning, and religious tithes or conscientious
It became common during the Clinton Administration to speak of
government spending as an "investment." Congress might also
therefore attach the following to each spending bill:
By voting for this legislation I hereby affirm my belief that the
information and knowledge possessed by me and 434 other
Congressman-"investors" is greater than the collective
knowledge and information possessed by a Free Market of 150 million
individual investors, pension fund managers, insurance company
executives, mutual fund administrators, and brokers, all of whom do
not have the luxury of obtaining investment funds by passing a law,
but must earn their investment dollars.
Kevin Craig's platform:
Communicating with Government and Media
- Contact Congress -- this
is from the JBS website, powered by "CapWiz," from Capitol
Advantage. Lots of organizations use capwiz. If you don't want to go
through the JBS, search for capwiz
on Google and find another organization that uses it.
Notice that you can also contact media through this webpage.
- Action E-List
Sign up for the JBS Action E-List and be notified when you can
make a critical difference on important issues.
John Adams once wrote that the American
Revolution began in 1761, when Massachusetts attorney James Otis
began legal challenges to the Writs of Assistance. He lost the case, but
"American independence," Adams wrote, "was
then and there born." Now do the math. That means it took 15
years to convince the rest of America to declare Independence (1776).
Then another seven years of war was required before a Peace Treaty was
signed (1783), and then six years before the Constitution was finally
ratified (1789). That's almost 30 years. (And Jefferson said we
shouldn't go 20
years without another rebellion!) How can we hope to convince
Americans to fight for principles they were never taught in government
schools? We need to be in this battle for the long term. "Eternal
Vigilance is the Price of Liberty."
The Democrat Party Radio Address:
Massachusetts Congressman Barney Frank delivered the Democratic
"Get the economy moving."
As we work on the details of a proposal, we are also guided by the
need for increased assistance to those who are unemployed, to those
hit hardest by the increases in food and energy costs, and,
importantly, to those who have lost their homes or are struggling to
avoid foreclosure. We should also address the problems faced by state
and local governments who may be forced to reduce vital services as
their tax receipts decline.
Democrats believe that an active government role is needed to
maintain confidence in the integrity and fairness of markets for
consumers, homeowners, workers, and investors.
The free market system is the foundation of our prosperity, but as
we confront the damaging consequences of irresponsible mortgage
lending, all but a few zealots now understand that enforcement of
standards of honesty, openness, and responsibility is necessary to
prevent the sort of abuses that have brought us to the present crisis.
It appears that this anti-regulatory tide may, at long last, be
turning. In 1994, a Democratic Congress passed the Homeowners Equity
Protection Act, giving the Federal Reserve the power to regulate all
home mortgage loans. Alan Greenspan, a staunch advocate of
deregulation and then Chairman of the Federal Reserve, flatly refused
to use any of that authority. In contrast, today's Federal Reserve
will soon issue the rules called for in that legislation. While they
are not as strong as many of us would like, this still represents an
important repudiation of the hands off view that has dominated in
While some continue to argue that government efforts to address
problems in the marketplace will damage the economy, the evidence is
quite clear that growth in the private sector is consistent with a
great variation in many aspects of public policy, such as taxation and
regulation. In fact, appropriate intervention not only promotes
economic growth, its absence - as we have learned - can slow it.
Today our nation faces a test. We must cooperate to enact
immediately aggressive measures that respond to the economic downturn,
while we simultaneously continue a healthy debate about the role of
government in a modern economy. I am confident we will succeed.
This is Congressman Barney Frank. Thank you for listening.
Nothing new here.
Note the progression: Last week the Democrats demand a "stimulus
package" to "help the economy." This week Bush complies.
Now the Democrats are turning the screws, demanding a repudiation of the
philosophy of a Free Market. Bush will tone down his anti-tax rhetoric,
and sign a bill with massive new government spending and a few tax cuts.
for a replay of this edition of the Ozarks Virtual