Government deficit spending is a central point of controversy in economics and politics, with many differing viewpoints. And while debate about its pros and cons is likely to continue, Ag Retailers Association president Daren Coppock says one thing is for certain in his recent blog, “Our nation has made deficit spending a habit, and has become addicted.”
He adds: “The addiction leads to two painful consequences: (1) the next dose of stimulus must be increased to have any effect, and (2) kicking the habit and going through withdrawal is difficult and painful. The path to fiscal sobriety will not be easy or short.”
Coppock says President Obama’s executive order for an improved regulatory system on January 18 — which called for a renewed focus on jobs, higher wages and faster economic growth — was a step in the right direction.
“Now, it must be aggressively and comprehensively enforced, together with necessary statutory changes by Congress, to more appropriately balance regulatory burdens with the goal of economic growth,” he says. “Rather than impose more taxes on our struggling economy to cover the nation’s fiscal gap, or hope for another ‘fix’ of deficit-financed stimulus, let’s release the energy and job creating ability of the private sector by getting government off its back.”
To read Coppock’s entire blog entry, “Help for the Fiscal Addict,” and/or to post a comment on the subject, visit ARA’s Web site here.