We're from the government, and we're here to help...
Down the road from Hagerstown about 15 miles, the city of Connersville is bracing for the closing of it's Visteon plant, and the loss of the remaining 900 jobs. Everybody could see it coming, except for the city council, that just built a $1.8 million dollar swimming pool, while counting on Visteon's continued 'contributions'.
One of the lead stories in the the local paper stated that the governor and our local representatives were concerned with the closing, and that they were on their way to help out.
Now there's some good news......
This is how the government handles things....
From David Walker, U.S. Comptroller...
"The largest employer in the world announced on Dec. 15 that it lost about $450 billion in fiscal 2006. Its auditor found that its financial statements were unreliable and that its controls were inadequate for the 10th straight year. On top of that, the entity's total liabilities and unfunded commitments rose to about $50 trillion, up from $20 trillion in just six years.
If this announcement related to a private company, the news would have been on the front page of major newspapers. Unfortunately, such was not the case -- even though the entity is the U.S. government."
And yet we continually look to the government to solve our problems. It's failed policies of artificial market supports, forced wealth distribution and strangling over-regulation will only continue to force businesses to close or relocate.
Politicians can be the most help by getting government out of the way, and returning to a policy of minimal taxes and minimal regulation that allowed businesses and the economy in this country to grow and prosper.
One of the lead stories in the the local paper stated that the governor and our local representatives were concerned with the closing, and that they were on their way to help out.
Now there's some good news......
This is how the government handles things....
From David Walker, U.S. Comptroller...
"The largest employer in the world announced on Dec. 15 that it lost about $450 billion in fiscal 2006. Its auditor found that its financial statements were unreliable and that its controls were inadequate for the 10th straight year. On top of that, the entity's total liabilities and unfunded commitments rose to about $50 trillion, up from $20 trillion in just six years.
If this announcement related to a private company, the news would have been on the front page of major newspapers. Unfortunately, such was not the case -- even though the entity is the U.S. government."
And yet we continually look to the government to solve our problems. It's failed policies of artificial market supports, forced wealth distribution and strangling over-regulation will only continue to force businesses to close or relocate.
Politicians can be the most help by getting government out of the way, and returning to a policy of minimal taxes and minimal regulation that allowed businesses and the economy in this country to grow and prosper.
posted by Rex Bell at 12:42 PM
3 Comments:
Rex- I find myself in debates with folks who endlessly find fear in corporations, but never in government. I won't say there is no reason to fear corporate power (especially when it can cozy with government), but this story shows why government must be regarded with the greatest suspicion and scrutiny.
At least with a corporation, I can choose not to do business with it. In the case of government, my "business" is forced upon me.
When the Visteon story broke on WHON the other day, the union prez commented on how he was going to set up meetings with Lugar, Bayh, Hill, etc., etc. to get their help. How many of these people really expect these politicians to wave a magic wand and create a market? Then again, are they really looking for some kind of handout.
I find that there is plenty to fear from both corporations and government. Many of the problems mentioned in your article are caused by the contracting of government business and oversight to outside interests.
Corporations per se are only as evil as government encourages them to be. The shortsighted outsourcing of American jobs for immediate returns is calculated to satisfy stockholders, but will, in the long run, damage our ability to earn a living and, more importantly, will--has--make us permanantly dependant on other nations for manufactured goods. Including national defense.
Government has turned into a bunch of international salespeople who think they are setting policy, but become evermore dependant on private enterprise for input on what that policy should be.
I do not advocate protectionism, but there must be limits.
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