Seriously; Why I am no longer a Republican after 35 years.
Reader comment on: Why I Am Not a Republican
Submitted by donald larson (United States), Aug 7, 2015 21:44
Permit me to forego the small talk & the occasional joke. Specifically, I am no longer a Republican after awakening from a deep sleep; thinking, as a Republican; I was a True Conservative; one, who was loyal to the cause of Fiscal Conservatism and Balanced Budgets.
After the Crash of 2008; I sensed that something was terribly wrong. It was a wake-up call; and, one that got my Research Juices flowing. What I discovered was the GOP was not who they say they are! Far from it! In fact; my five years of Study led me to the Conclusion; that the GOP over the years; has been anything, But, Fiscally Conservative! In fact; the evidence is convincingly clear; that it was the GOP and their Presidential Leadership that has brought this Country to it's Financial Knees.
The Conservative Fiscal Orthodoxy was abandoned in 1971; when Nixon took the Country off the Gold Standard; thereby destabilizing the World's Financial System; and, stabbing our WW II, Allies in the back. One of the Reasons our Nation was accorded the Status of World Reserve Currency following the War; was, because we - - and other Nations agreed to a Standard of One Once of Gold = $35 an ounce. That Standard stayed in place and was effective for nye on 20 years.
In 1971; facing a Re-election Campaign; and, at a time when fears of Recession were surfacing; Nixon had to Loosen things up a bit; freeing up Dollars to help the Economy - - and, his Re-Election Bid. To be fair to Nixon and the Context of his Actions; the President was feeling great Fiscal Pressure from the Cost of Johnson's War on Poverty; and, the Vietnam War.
What immediately followed was an Economic Nightmare for the American People. Now, that the Dollar was being floated; the Question of the Day at the time; was/is, the same Question being asked - - Today! Simply, "Hey Buddy; what's the Dollar Worth Today?" Same response then AND now: "Hell if I know, Mister!"
The 1970's was a Lost Decade. Nixon's actions weakened the Petro Dollar; caused Oil Embargos; and, led to Food and Price Controls; as Inflation ran rampant. The Nation was mired in Stagflation for much of the 1970's; and, the Stock Market seemed essentially frozen.
Many of Carter's troubles resulted as a spill-over from Nixon's Trashing of the Gold Standard. Inflation went through the Roof; and, Interest Rates were off the Charts. Yet, when Jimmy Carter left Office in 1980; the National Debt was well under a Trillion Dollars.
The pace of Fiscal Betrayal picked up with the Election of the Great Communicator. Yet, for all his tough talk on Big Government and high taxes; Reagan Tripled the National Debt; and, raised Taxes at least a half-dozen times. Cap Weinberger, Reagan's Defense Secretary; played Ronald for $1.4 Trillion Dollars. During the 1980's; the popular Pentagon Refrain was, "the Russians are coming; the Russians are coming!" Reagan thought the large increase in Defense Spending was going to be used for something called, SDI - - Strategic Defensive Initiative. Sounded great; knock those ICBM's out, while they are still in Space; before, they even reach our Shores. Sounds like a Plan! Or, so the President believed.
Instead; Weinberger used the $1.4 Trillion to purchase WW II type of additional equipment; like, ships, planes and tanks. Now, those Rust Buckets are sitting collecting dust; and, at a very high maintenance cost. Then, who will ever forget the often-spoken phrases; "Trickle Down Economics; and, Deficits Don't Matter?!"
Or, don't U worry about the off-shoring jobs; "a rising tide raises all boats!"
Other Decisions that Reagan made that had undesirable consequences for the U.S.: Busting Unions & upsetting the parity between Management & Labor at the Bargaining Table; Deregulation; and, appointing Alan Greenspan as Fed Chief. Greenspan helped to Deform both our Monetary and Capitalistic Systems in the U.S.
Back at U soon! Need a break! Don't stray too far.
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