As for my sources, in the case of “The American Challenge Revisited” I used the author’s bibliography to verify certain economic statistics or statements attributed to other persons. Any economic statistics I quote myself are taken from my own readings. Since my writing is mainly an outlet for my own frustrations I am guilty of failing to provide footnotes and bibliographic references that would be required of a professional writer.

In any case, it’s nice to know that someone else is reading my posts. Thanks again

Conservatives, like myself, believe that regulation to a certain extent serves a purpose and agree that the government does play a role in providing oversight of certain industries. The size and scope of these regulations is what “free market” advocates most commonly debate.

By using the Massey Mining Disaster as an example of the disasters caused by under-regulating businesses is very deceiving. Events like this, and the oil spill debacle, are often caused, not by a lack of regulation, but a lack of enforcement. I don’t mean to excuse the mining company from any blame but only to point out that your admission of regulatory failures further demonstrates my point.

Our federal government, much like private industry, is overburden by the costs of too much regulation (ObamaCare’s impact on small businesses is a prime example). Although I agree that regulation is important, we would be better served by reforming and reducing the large number of regulations already put in place.

Perhaps you would be best served by reviewing the large number of frivolous regulations proposed and instituted by this administration (and the Bush administration). Maybe you will then see that is my generation, and our children, that will be burdened with these costs. The Tea Party people you like to criticize recognize that the reach of the federal government continues to expand and opening the door to increased regulation will only exasperate our country’s problems.

The main issue on which President Obama was elected was the economy. He insisted that the Republicans and President Bush were mainly responsible for increasing our deficit and plunging us into this economic crisis. He calls this his “inherited problem.” I agree that Bush and the Republicans played a part with their out of control spending but they were and are not solely responsible for this deep recession. However, as we’ve seen throughout the beginning of Obama’s term he has shown no concern for our Federal deficit. According to recent CBO projections, the cumulative federal deficit, under the President’s budget, will reach $9.3 trillion. This estimation by the CBO was made of course before Geithner’s plan was revealed.

Now, Obama is trying to sell this “toxic assets” plan by claiming it will involve a combination of public and private money to buy these toxic assets off the books of the troubled banks. My understanding is that there is only about $100 billion or less of the original $750 billion left in the TARP fund which will wholly be used to buy up the assets. The remaining funds will be depleted and there will be nothing left to deal with any future “crises” that may pop up. This, of course, means that the President and Democratic Congress will have to spend us further into debt and continue to increase the risk of someday bankrupting our country. We’re giving these investors taxpayer money to buy up the toxic assets and guaranteeing that they cannot take a loss. If the plan falters, they lose nothing and if they take a profit, they keep it. None of the profit will be shared with the taxpayers. We can do nothing but hope this plan gets our markets moving again and, in turn, pulls us out of the economic crisis. Obama and Geithner are, again, relying on very rosy scenarios and don’t really seem to be dealing in reality. The taxpayers are the only ones in this new deal that run the risk of losing another trillion dollars.

I’m not sure you will agree with everything I wrote above but I did agree with most of what you had to say…minus the final shot at Republicans. I don’t understand how anyone with any minuscule understanding of economics can still support this President and his financial policies. My only request, regarding the description or disclaimer attached to your new blog would be that you also indicate that your views don’t necessarily reflect those of your family members…especially your son-in-law. I’m looking forward to reading many more posts in the future.