GOVERNMENT, NOT BUSINESS, IS THE GREAT JOB-DESTROYER
- Rick Scarborough
- May 18, 2012
Often, Christians think of abortion and the sanctity of marriage as moral questions, but economic issues as just matters of common sense. In reality, both involve right and wrong. Economic issues have their own unique moral dimension.
To understand how this plays out in real life, consider President Obama’s new ads portraying likely GOP Presidential Nominee Mitt Romney as a greedy capitalist who’s destroyed the jobs of hardworking men and women for his own selfish gain.
The two-minute spot, which began airing on Monday, includes comments from workers who lost their jobs after Bain Capital (where Romney was a partner) bought GST Steel in 1993. The ads present the liberal cliché of the heartless corporate raider who takes over a company, sells off assets, and leaves workers high and dry.
To its credit, ABC News presented the other side, when it reported the views of Steven Rattner, a former Obama administration advisor on the auto bailout, who said the ad was “unfair.”
“I do think to pick out an example of somebody who lost their job, unfortunately, this is part of capitalism, this is part of life,” Rattner observed.” “And I don’t think there’s anything Bain Capital (which has an outstanding record as a net-job creator) did that they need to be embarrassed about.”
Those who’ve spent their lives in industry and finance understand this reality. Mr. Obama lacks such a perspective. Before becoming president at age 47, his was a public interest lawyer, community organizer and officeholder.
And so, it should not be surprising if the president doesn’t really understand the dynamics of capitalism. Sometimes jobs and businesses must be eliminated to free up capital for the creation of other – more productive – jobs and businesses. In 19th century Britain, the Industrial Revolution threw thousands of craftsmen out of work – and created jobs for thousands more in new factories.
Of course, it’s a personal tragedy when a man who’s worked for a company for 25 years loses his employment. But without the fluidity of capitalism, instead of an auto industry, today, we’d still be making horse-drawn buggies.
Capitalism made America the wealthiest nation on earth – one with a middle class whose growth is limited more by government intervention through taxes and regulations that any other factor
When President Obama came to office, the unemployment rate was 7.8%, which he said was unconscionably high. He rammed through Congress just short of a trillion-dollar stimulus package that he promised would get it unemployment below 7%.
For most of the past three years, it’s been around 9%. – but has gone as high as 10.2%. Now, it’s 8.1%, which many actually hail as a victory (though many economists insist that the true unemployment numbers are much higher when you factor in the tens of thousands of workers who have used up all their benefits and dropped out the job market altogether).
Any way you cut it, millions of jobs have been destroyed by a government determined to micro-manage the economy. The only growth under this administration has been a phenomenal growth of government – fueled by deficit spending.
The National Debt has increased by more than $5 trillion in the last 3 1/2 years. There are now more Americans living in poverty than at any time since 1993 (1 in 7 families). That’s debt that future generations will have to pay, and that’s theft.
Any company with a record like that would have fired its CEO, pensioned off its board of directors and filed for bankruptcy. Our politicians are now jockeying for political gain over the next round of borrowing as they dare each other to let the country default on its loans.
Meanwhile, Greece is on the precipice of a depression which could affect the entire European Common Market and the world. While most Americans fiddle with their remote-controls trying to find a TV program to anesthetize themselves from a world on the brink…its time for the true Church to stand up and say enough!
That’s why Vision America called more than 100 leaders to meetings over the past few weeks, asking them to join our national call to prayer and repentance called 40 DAYS TO SAVE AMERICA. God promises to hear from Heaven, forgive our sin, and heal our land…IF we will humble ourselves, seek His face, and turn from our wicked ways. (See II Chronicles 7:1).
We now have over 60 members in our Alliance of Participating Organizations. Together, we are attempting to launch the biggest prayer effort in our nation’s history, calling on 40,000 pastors to lead their respective congregations in a 40-ay season of prayer and fasting for America.
Will you join us? Please select here to find out more about 40 DAYS TO SAVE AMERICA.
God bless you. Rick Scarborough
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