David Schussler

Even Barack’s friends and acquaintances do not know who he is. Just read the following article written by Barack’s acquaintance Richard A. Epstein Senior fellow at Stanford’s Hoover Institution and professor of law at the university of Chicago. Epstein’s article on Forbes.com asserts:

“[Barack Obama’s] program has three
key components, which, taken together, can convert a shaky financial
situation into a global depression. The first of these is his anti-free
trade attitude that loomed so large in the primaries. But even Obama
cannot repeal the principle of comparative advantage. Any efforts to
scuttle NAFTA, deny fast-track approval to other agreements, or limit
outsourcing will not be as dramatic as the Smoot-Hawley tariff. But
combined, they would act as a depressant on general economic growth.
Everyone would suffer.

Second, Obama is committed to strengthening unions by his
endorsement of the Employer Free Choice Act, a misnamed statute that
forces union recognition without elections and employment contracts
through mandatory arbitration thereafter. That one-two punch could tie
up the very small businesses that Obama seems determined to help. Tax
relief won’t work for firms that won’t get formed because a labor fight
is not in their initial budget.

And third, he is in favor of progressive individual taxes and high
corporate taxes. It is as though the U.S. does not have to compete for
labor and capital in global markets. My fear is that with his strong
egalitarian bent, he has not internalized the lesson that high rates do
not offset declining revenues.

Thus, even before we get to the added bells and whistles of the
modern welfare state–windfall profits taxes, ethanol subsidies, health
care–an Obama administration could lock us into a downward spiral by
ignoring the simple fundamentals of sound governance. Boy, does this
stalwart libertarian ever hope that his friends are right and his
gloomy prediction is wrong!”

As does many of us, Epstein seems to view Obama’s presidency as a crap shoot with our economy in the balance. If only Obama would firmly state his ideology and true intentions for his governance of this country we would all be able to make a more informed decision on election day.

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