Strong Economy for All
During the 2008 economic crisis, instead of addressing the enormous trade deficit and unfair business practices in China and other countries, our leaders took the easy way out – they just printed tons of money. They called it Quantitative Easing (QE) or bond buyback with the Federal Reserve, pumping as much as $85 billion a month into US banks for over six years. As a result, big banks became wealthy and recovered their losses while the middle and lower classes suffered. Furthermore, student loans now have interests rates of 6% to 7% at virtually no cost to the issuing bank, making it increasingly difficult to achieve higher education.
Many are advocating to increase government involvement, but bigger does not always mean more efficient. Instead, we need to look at the cause of our unstable economy. We need to renegotiate trade agreements with China and other countries that have been using unfair business practices. We need to stimulate American manufacturing with tax credits and fair business regulations. We can further stimulate our economy by reducing taxes and wasteful government spending, thus reducing our debt. If we address the cause of our economic decline by promoting US manufacturing and stimulating real job creation, we will create a healthy economy and a strong America for us and future generations.