This election is as much about two economists as it is about the parties. Freidrich Hayek was a supply-side economist; John Maynard Keynes believed in government stimulus. This administration has chosen the Keynesian model.
Both Hayek and Keynes believed that creating a lack of confidence is destructive. The current class-warfare scheme has vilified business and created that lack of confidence. The business community is unwilling to invest its hard-earned dollars in this environment. It's easy to blame those "greedy corporations," but without them there are no jobs.
Regulatory activism, coupled with high corporate tax rates and an unfriendly business climate, are some of the reasons why businesses go overseas. It's no surprise that the cost of complying with regulations and the highest corporate tax rate in the world result in fewer new hires. Business does not have the power to print money. A free market creates the opportunities that our ancestors came to America seeking. It is what made a country of immigrants into the most powerful, prosperous nation in the history of the world.
Government spending is being financed by deficits at historic levels. Just think, if the Federal Reserve were to raise the interest rate, we would not be able to afford the interest on our $16 trillion debt ($227 billion in 2011). This level of debt is the single biggest threat to our national security.
The 2012 election is pivotal. We will decide what kind of country we want to be - continuing down this path to European socialism (Keynes) or reverting back to the principles of personal responsibility on which this country was founded (Hayek).
Egg Harbor Township