The engine that built America is obviously the private sector. We provide the jobs, we provide the innovation and creativity, and we provide the products and services that have value in the marketplace all over the world. In history, there has never been such a job creating, revenue creating engine.
The world is both excited and troubled by the rapid growth of China’s economy. By the way, this growth is not coming from a communist inspired nation but by a nation that has embraced our example of free market capitalism. In other words, they were smart enough to copy us! They are on an annual run rate for their GDP at $5 trillion, passing Japan in the process.
This is a tremendous achievement by a country that just a few years ago was a communist run, communist inspired nation. However, even in a time in America when we are economically in the tank, and our financial system is near collapse, our run rate for our GDP is $15 trillion, three times that of China, and still bigger than China, Japan and Germany combined.
Our economy today, by all calculations and according to most every economist you ask, will most likely have a paltry growth rate of one to two percent for the conceivable future. That being the case, the private sector understands that the only way that we can survive and keep people employed is to operate our businesses more efficiently, and cut out the fat. And believe me, there is fat in every business, large and small, that serves no productive purpose. We understand that revenue is important, but profit is more important. A prime example of that is Wal-Mart.
Wal-Mart recently reported flat growth in revenue, but an increase of 7% in profitability. That’s because Wal-Mart, and every other business, looks at their expenses every single day to make sure that we are spending our money wisely, and investing our money to bring the best return so we can keep our businesses robust.
A rule of thumb is this – the more money you have, the more money you are going to waste. And no one has or wastes more money than the United States government. When is the last time you heard of any politician cutting any program that did not work, or eliminating any earmark from any bill, or stopped any pork project that built a bridge to nowhere that served no one? The answer to that question would be never!
Secretary of Defense Robert Gates is trying to cut fat from our military budget, and make it operate more efficiently, but he is running into stiff opposition. There are Republicans and Democrats who are not interested in streamlining the military and eliminating inefficient operations. They are primarily concerned with losing programs, as bad as they may be, that provide income for their constituencies. These politicians need to go! These are not political issues. They are not Republican or Democratic issues. These are American issues. If we are going to make changes in our government and demand that they stop the waste and cut the deficit, we are going to have to have the same resolve—as a country – as our forefathers had in fighting World War II. President Roosevelt did not commit the United States to the war until he was sure that this country had the resolve to stand together, committed to end the tyranny of Nazi control. Pearl Harbor served as the catalyst.
We, as Americans, have had a wake-up call in the last two years with the near collapse of our financial system and the ongoing problems of our brothers and sisters losing their jobs and facing months, even years, of unemployment and seeing their benefits exhausted. Tim Geithner and Ben Bernanke, and other “financial geniuses” cannot solve these problems, and government hand-outs will not be the silver bullet to solve these problems. There isn’t one silver bullet in the world that will be the solution to the financial crisis we find ourselves in. But the first thing we must do as Americans is find the resolve to stop the craziness in Washington, which did not start with the current administration or with the current Congress. This started a long time ago. But we – the American people – have let it go on long enough. We – the private sector, private citizens –are the customers of the United States government. We make the United States government possible. Our tax dollars run the country.
We have to demand accountability and results from whoever is in Washington, and we have to do it now.
If you agree with this message, please pass it on to everyone you can. We need to take our country back and make it great once more.