The progress and problems have been driven by Big Money. The expansion of the US in 1804 required $15 million we didn’t have, but the banks had it, so we borrowed it. That investment turned out well, because we bought valuable land at a bargain price. Government grew its tax base, stayed small and paid off the loan easily. Few government “investments” since have offered that kind of value. US federal debt was $71 million in 1790. It bounced around in the $80 million range and dropped to $33 thousand in 1835.
The industrial revolution was funded by bankers like JP Morgan who lent millions to inventors and industrialists like Edison, Tesla, Carnegie, Rockefeller, Ford and others. They produced electric power, automobiles, gasoline, the telephone, radio and television.
The industrial revolution continued with computers, radar and software and all of the devices we use every day continue to be upgraded. That’s the good news.
But Big Money also entered our political system and we’ve been shaking our heads ever since. Big money now includes political operatives, who collect contributions to fund politicians to do their bidding. These politicians no longer work for us, except maybe Trump. But even Trump knows that we need these corporations to continue to drive our economy and without our economy, we will decline.
Big Political Money drives legislation and Big Government wants Socialism. We can’t have it both ways. The free market system that followed the laws of economics built the country. Socialism will end with starvation; look at Venezuela. The US now has a $20 trillion national debt and that is unsustainable. In order to reduce this debt, we need to work our way out of it. We can because we developed fracking to get to the $18 trillion worth of oil and natural gas we have in the US
There is a case to be made for the free market system applied to healthcare and education. Both are underperforming and overpriced because of excessive government subsidies. We should have kept government out of healthcare and education long ago.
We need to end Obamacare and insurance regulations and let the free market find the right price-points. Consumers need to be free to buy insurance or not. If it is too expensive, they won’t buy it.
Norb Leahy, Dunwoody GA Tea Party Leader