US Economic History

Our economic history needs to be studied in order to understand where we are now and why. Actions taken and not taken have consequences.

The meteoric rise in the cost of government in the last 100 years is due to wars, bad ideas, scams, inflation, power grabs, corruption and bloated bureaucracies.

War is being replaced by Trade and Sanctions. This should allow governments to cut spending and taxes.

Household incomes should be increased to exceed living costs, so that mortgages can be paid off early. The only good debt is a single family house for the family that will appreciate in value. It should be paid off as soon as possible.

Inflation in the Price of goods is created when demand exceeds supply. This applies to food, commodities and property. Labor is a commodity and wage increases require productivity increases or they create inflation. Inflation due to money printing lowers the value of the currency.

Debt must be limited to save interest expense. Government should not fund projects with Bonds that require interest costs. Credit Cards should be paid off monthly and no balances should be carried. Student loans need to be avoided. Cars last longer, but insurance is higher. Limiting overall expense is important.

The cost of government needs to be reduced through process improvements and automation. Government needs to publish its priorities and reduce spending on nonessential and unconstitutional activities and projects.

The federal government needs to reprivatize industries and sell its lending companies like Freddie, Fannie and Sallie and transition its unconstitutional responsibilities back to the States.

Education and Healthcare are overpriced and under-performing. These need to be returned to the “free market”, so consumers can control the costs. Government subsidies have ruined these industries.

Federal Lands need to be returned to the States and federal grants to States need to be reduced and eliminated.  States and Municipalities need to take over transportation maintenance and expansion. States need to build more hydroelectric plants to lower electric and water bills and increase water reserves to keep agriculture going during droughts. Students should be responsible for their own education.

The Federal government needs to pay down the National Debt back to $5 trillion. To do that, congress needs to cut spending in half. Non-citizens should not be eligible for government subsidized welfare, healthcare or education.

Norb Leahy, Dunwoody GA Tea Party Leader