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A Predictable and Stable Legal Order
A government with moral and legal authority promulgates written rules and universally, impartially and uniformly enforces the rules providing a predictable and stable legal order on which to base economic and personal decisions. The law prevails, not the proclamation or arbitrary decision of a ruler, government bureaucrat, enforcer (e.g., policeman) or judge.America Must Establish a Stable Legal Order
Why are so many American out of work? Why is the economy wallowing? The answer is: arbitrary and impulsive governance. Rather than establishing a predictable and stable legal order, President Obama has fostered disorder. Americans and their businesses cannot anticipate future tax rates, health care costs and additional regulatory burdens. Without stable policies, Americans are extremely hesitant to invest their time and money, which would expand the economy and increase employment.
Monetarily, the Federal Reserve has pumped large amounts of dollars into the economy, and interest rates are currently about as low as they can possibly go. Banks are flush with extra cash, and most businesses have unused money in their pockets. However, America’s immediate problem is not the lack of cash, but incompetent governance.
Allan Meltzer, a professor of political economy at Carnegie Melton University, explains in the Wall Street Journal:
To get out of our bad economic situation, we need coherent long-term fiscal policy, especially entitlement reform.
… Business investment is held back by uncertainty. No one can reliably calculate tax rates, health-care costs, and the regulatory burden until after the election, if then. How can corporate officers calculate expected return when they cannot know these future costs?
At Real Clear Politics, Michael Gerson observes the regulatory chaos caused by ObamaCare and banking regulations:
Obama's major regulatory initiatives, particularly Obamacare and the Dodd-Frank financial reform, have added to economic uncertainty. Businesses are waiting for the implications of these laws to become clear, and federal rules to be written, before making investment choices.
Irresponsibly, President Obama has totally ignored government’s crushing debt (which must be paid by future workers) and an instable tax policy. Worse, the President refuses to utilize available energy supplies. Again, Gerson observes:
… the Obama administration has failed to make tough calls and secure legislative compromises on a variety of issues -- the federal debt, future tax rates, the Keystone pipeline -- that might remove sources of economic uncertainty. Instead, we get short-term policy extensions on large policy matters.
Instead of securing predictable and stable policies, President Obama imposed his legacy agenda – ObamaCare, solar panels, windmills, and increased regulations. All decreed by Obama’s czars and their bureaucrats. Consequently, the economy stagnated, exacerbating America’s unemployed plight.
Politely, Professor Meltzer makes a plea for good governance, specifically long-term solutions – balanced budgets, reduced spending and entitlement reform:
The policies that are really needed are on the fiscal side. Instead of more short-term stimulus, we need a government that puts us on a path toward a balanced budget over time, mainly by reducing spending. Instead of denigrating and then ignoring House Budget Chairman Paul Ryan's courageous effort at entitlement reform, the administration should put a program on the table to control our deficits.
Exactly! Stable and predictable policies, focused on less spending, a balanced budget and entitlement reform, are essential to reviving freedom and prosperity in America. So far, only the Republicans have made serious proposals to reduce the size of government and install a stable legal order. This is the essence of the Cut, Cap and Balance legislation passed by the House over a year ago.
Recently, Senators DeMint (R, SC), Lee (R,Ut), Paul (R, Ky) and Rubio (R, Fl) have proposed similar legislation in the Senate. So far, President Obama and Senate Majority Leader Harry Reid have stopped Cut, Cap and Balance. [Read: http://www.freedomworks.org/blog/teda/enact-cut-cap-and-balance]
America desperately needs to constrict arbitrary governance. This will only occur, when demanded by We the People. To enact major legislation, the politicians seeking reform must have strong and consistent support from voters.
This is the mission of FreedomWorks. With over a million members, FreedomWorks is the nexus between politicians and concerned voters - an inside and outside government coalition.
Working with the politicians – e.g., Senator DeMint and Representative Paul Ryan, FreedomWorks has actively supported entitlement reform, Cut, Cap and Balance as well as regulatory reform. Simultaneously working with thousands of concerned American voters, FreedomWorks also helped produce the Tea Party Budget.
This citizens’ budget reduces spending by nearly $10 trillion in 10 years, reforms Social Security with personal saving accounts and reduces the power of government. The citizens’ budget gives guidance and encouragement to the politicians. The coalition of politicians and strong citizen involvement is the only process which will reduce the size and power of government and help establish a stable legal order.
FreedomWorks is also joining local Tea Party activists to recruit and assist candidates dedicated to freedom. Senators Rubio and Lee are examples of politicians assisted by Freedomworks. These Senators and other Members of Congress were recruited because of their dedication to small and defined rules of governance, which establishes a stable legal order.
Now is the time to join FreedomWorks; help end arbitrary, impulsive and destructive governance and enact a predicable and stable legal order. With a predictable legal order, Americans will work, buy, sell, exchange, save and invest. Then, freedom and prosperity will thrive.