Published:
June 15, 2012
The president said the U.S. economy is
doing fine. How far out of touch with reality can he be? He wants to put more
borrowed money into public-sector jobs. While many of them are necessary, they
don't produce income for the economy. My Economics 101 professor told our class
that new wealth came from the minerals (coal, petroleum, iron, etc.), soil
(wheat, corn, cattle, hogs, lumber, etc.) and the sea (fish and other aquatic
life). The president and his administration (like the EPA) throw obstacles in
the way of bringing this new wealth into the economy. This basic new wealth
would result in thousands of jobs as it's produced, refined, transported and
provided to the people to buy and use. These activities would provide tax
revenue to pay down our debt, and hire firefighters, police officers, teachers
and health care providers. We might even be able to buy a “thingamajig” to
stimulate Obama's economy.
Hadley Meinders
But the
problem with Mr. Meinders analysis is it is simplistic. His world of economics is
to live of the earth’s resources. Pollution and population growth are of no
concern. No need for innovation, just dig deeper.
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