"Our national task today is to restore the conditions for economic recovery, without which our prosperity and our national security cannot be assured. We must restrain the headlong growth of the Federal budget; enact multi-year across-the-board tax reductions to spur new job-creating investment and productivity; roll back the tangle of regulations which needlessly hamper enterprises; and cleave to a sound monetary policy which preserves the strength of the American dollar. But even as we act boldly to achieve these goals, we most work to create the conditions for expanding the ownership of the nation's wealth, so that all Americans may have their fair chance to become true proprietors of their country." 

--Ronald Reagan, Letter to Pierre S. du Pont IV, Delaware, 1981
 
 
Provided courtesy of CTMSR.com

New York Magazine

Jonathan Chait

The real news in Mitt Romney’s interview with Mark Halperin, as Charles Pierce points out, is that Romney openly repudiated the central argument his party has been making against [Alleged] President Obama for the last three years: that he spent too much money and therefore deepened the economic crisis. Indeed Romney himself had been making this very case as recently as a week ago (“he bailed out the public sector, gave billions of dollars to the companies of his friends, and added almost as much debt as all the prior presidents combined. The consequence is that we are enduring the most tepid recovery in modern history.”) But in his Halperin interview, Romney frankly admits that reducing the budget deficit in the midst of an economic crisis would be a horrible idea:

Halperin: You have a plan, as you said, over a number of years, to reduce spending dramatically. Why not in the first year, if you’re elected — why not in 2013, go all the way and propose the kind of budget with spending restraints, that you’d like to see after four years in office? Why not do it more quickly?

Romney: Well because, if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression.  So I’m not going to do that, of course.

Read more at nymag.com ...
 
 

"The Founding Fathers knew a government can't control the economy without controlling people. And they knew when a government sets out to do that, it must use force and coercion to achieve its purpose. So we have come to a time for choosing."

-- Ronald Wilson Reagan

 
 
 
 
_ The Committee to Defend Private Property Rights

The Washington Times

by: Joe McDonald

The World Bank warned Wednesday of a possible slump in global economic growth and urged developing countries to prepare for shocks that could be more severe than the 2008 crisis. ...

Read this story at times247.com ...

 
 
_"It is the highest impertenence and presumption, therefore, in kings and ministers to pretend to watch over the economy of private people, and to restrain their expense...they are themselves always, and without any exception, the greatest spendthrifts in the society."

-- Adam Smith,  An Inquiry into the Nature and Causes of the Wealth of Nations, 1776