Is it too much to ask that the government serve the people, as was intended by the Constitution? That’s an important question upon which to reflect ahead of this year’s election and with this alarm:
When you combine this budgetary power with the separate powers of taxation and regulation, the federal government wields significant influence over the economy, both directly and indirectly. It is not an overstatement to say that right now, the U.S. economy operates significantly at the direction and behest of the U.S. government, not the other way around.
That was the warning last week from former Florida Gov. Jeb Bush, who testified before the US House Budget Committee. Along with warning that the economy “is stalling again, and growing well below its historic potential,” Bush’s testimony also reflected this key worry we hear every day from Main Street:
The kind of snap-back we have seen in every previous post-war recovery simply has not happened. Many people who lost jobs in the last four years have not returned to the workforce – millions have given up trying altogether and have withdrawn from the labor market.
Unfortunately, economic recovery is tied to getting the government out of running the economy through its increasing taxation, regulatory burden, and lavish spending. The only way to get things right again is to halt this assault on common sense.