Starving the beast

Another recent letter to my Maryland representatives (with edits and modifications):

Honorable Senators and Representative,

Please keep in mind Reagan OMB chief David Stockman's reason for the excessive tax cuts and resultant deficits during the Reagan administration. The policy was called euphemistically: "Starving the beast".

Generating structural long term economic failure by sending our hard earned cash into stuff we can't see (derivatives and option's that can expire with zero value) is just another "Starving the beast" strategy. This will tie the hands of many future administrations.

Use the 700 Billion for a comprehensive "Industrial Policy" that will rebuild America's capacity to build items of real tangible value: Computers, Automobiles, Telecommunications hardware, Pharmaceuticals, Bio-Engineering, and derivatives that have real value: Software, Education, and an Educated population. Lets stop importing high school teachers from the overseas at low wages. Pay elementary and high school teachers a wage higher than the 70 percentile of the population. You will then never have a discussion again about the quality of the schools due to the competition by qualified candidates for those jobs. You usually get what you pay for!

Concentration of wealth in the financial sector is a sign of a society entering a major declining phase.(Kevin Phillips, Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism)

If you vote for this bill and others like it without considering the entire "Industrial Policy" issue, this go around won't be called "Starving the Beast", it will be known as "Killing the future". If our decision makers continue with the current "lack of industrial policy", this will certainly be known as the China Century.

Sincerely,

<anon>