Economy

Economy
Though government should have a limited role in the economy of a nation, it does have some important actions for which it is responsible. The first of these is to remove what economists call regime uncertainty. This government has failed in this primary task and, in fact, has added to the economic uncertainty of every American. To remove that uncertainty, the national government should restrict itself to only a few actions in a free market system.

First, the national government should guarantee a sound financial system. Today, the Federal Reserve is pumping dollars into the currency stream at an alarming pace. These actions waters down the value of the dollar and thus drains value from all savings and investment plans held by Americans. Without sound fiscal policy from Congress, the Fed is really left with few options.

Second, rogue agencies that produce regulatory regimes like the confetti in a New York City parade must be brought to heel. Any regulation issued by a department or agency in the national government should be, at a minimum, revenue neutral. Otherwise, the costs associated with compliance become nothing more than a tax levied without representation. Congress must increase its scrutiny of all agencies in order to inhibit such reckless behavior on the part of this or any other administration.

Finally, Congress needs to have the discipline to examine and then eliminate at least 50% of the grants and subsidies that comprise unnecessary and damaging market interference. There are over 2000 subsidies and 1000 grant programs that cost American taxpayers some $1.5 Trillion a year. Imagine the effects of allowing markets to work as they should. This corporate welfare, crony capitalism and unjust redistribution of tax dollars should be halted and is the primary responsibility of the Congress. As a senator, I will wage a tireless battle against these programs that reward special interests and punish the American people.