In the United States, protective measures were in place to protect not only Government, but most essentially, the public at large. However, the massive deregulation that began with the Reagan Administration and continued into the first Bush Administration, tore at the very core of the American fabric. Once of the first calamity was the Savings and Loan Scandal during the Reagan era. On January 20, 1981 when Ronald Reagan took office, America’s national debt was 930 billion dollars. But, despite Regan’s promise to wipe out the debt, by the time he left office on January 20, 1989, America’s national debt had tripled. Reagan like the Republican Presidents that followed after him, espoused Capitalism as the way forward, however, their idea of Capitalism trumped Democracy, and without true Democracy in America, only 2% of its  population are the benefactors!

Reagan and the Republicans became hell-bent on the destruction of the “Middle-Class.” Their deceitful means to a deceitful end was first and foremost to break the backs of the Unions, which was the Foundation and the catalyst that built America’s Middle-Class. To this very day the Republicans who are always quick to draw God and Patriotism as a 44-Magnum, are still hell-bent with the same objective. The most recent escapade is the situation with the Federal Aviation Administration, whereby the Republicans blocked the funding bill for the sole reason of “not allowing the workers to have collective bargaining powers.” They, the Republicans claimed that they were taking this action to save the tax payers 16 millions dollars annually. However, they left for vacation without passing the bill and the cost to the tax payers was an estimated 30 million dollars per day because of the Republicans wantonness. The Democrats caved in and allowed the bill to pass on Thursday August 4, 2011 for which President Obama promptly signed that would allow 80,000 people to return to work on August 8, 2011. Is the Republican/Tea Party a Party for 98% of Americans or a Party for 2% of Americans? (The temporary FAA Bill will expire on September 16, 2011)

Bush Senior who then became President took up the mantra and calling himself a technocrat, promised to reverse the national debt trend, but by the time he left office America’s national debt had doubled.

To Bill Clinton’s credit when he took office the national debt stood at 5.1 trillion and America was in a recession. Clinton implemented changes against all odds and by the time he stepped down from office on January 20, 2001, America’s national debt was 5.6 trillion dollars, but, we had a projected surplus of 5 trillion dollars. It was during Clinton’s Presidency that America’s jobs market created 22 million jobs.

Bush Junior took office on January 20, 2001 and within his 8 year Presidency, the surplus vanished and America’s national debt soared to a whopping 10.4 trillion dollars. It was then as it is now, Bush Junior made several capricious decisions; initiating the Afghanistan war that was necessary, but it was inept of him to also initiate a massive tax cut simultaneously. And, if that wasn’t bad enough, he initiated the Iraq war in 2003 and also implemented a second massive tax cut. The important factor to remember is that the two wars and the two massive tax cuts that were never paid for, combined together,  cost the United States close to 3 trillion dollars.

Despite the dark but honest picture painted above, I do believe that within the next two to three years, America would be well on its way to a full recovery, and as we all know, when America does well, so does the rest of the world. Do not allow the Political wrangling to impede on your ability to think “positive,” for it is a positive attitude backed up by constructive thinking, that would enable perhaps not all, but many, to accomplish their objective of financial stability.

 

- Sheriff G Ali

 

Email: info@nnnincoporated.com

(Hong Kong) 852-580-83179