There\u2019s the direct relationship between actions taken or otherwise by politicians that carve or dictate their political demise. The future of an imperiled Fund\u2014payless paydays for retirees, loss of health care, brutal austerity, killer surcharge fees, spikes in price of basic consumer goods, among others\u2014are issues that voters will definitely recall when they next visit polling places. A good majority of them would be very unhappy campers.<\/p>\n
Inconsequence and inactions plus bad policies do not make for good economics. It rushes further south as politicians watch in awe how their zero-sum performances have literally fallen below mediocrity. Well, you were given the baton to run yet you were confused of your goal post when you hit ground. Follow us, we\u2019ll show you the way\u2014out! Consider the evidence:<\/p>\n
\u201cWhen President Gerald Ford entered office, the economy was in the midst of the serious 1974-75 recession. Responding, he offered income-tax rebate. Congress added a one-time, $50 increase in Social Security benefits and, to bolster the sagging housing market, a one-time tax credit for new homebuyers. The rebate caused only a temporary blip in consumer spending. Economic growth rose to 9 percent in the first quarter of 1976 but then dropped to only 2 percent in the third quarter, and unemployment started rising.<\/p>\n
\u201cCongress enacted a second stimulus plan in July 1976 over Ford\u2019s veto. It authorized grants to state and local governments designed to prevent layoffs of public employees or tax increases. This plan also failed to produce the promised stimulus. The economic pause of 1976 was enough to swing the election to Jimmy Carter and cause more incumbent senators to lose their seats than in any election in nearly 20 years.<\/p>\n
\u201cPresident Carter took office and by the end of his first month proposed another stimulus plan, which he said would \u2018restore consumer confidence and consumer purchasing power.\u2019 His plan called for another round of one-time tax rebates and Social Security bonus payments, federal public infrastructure grants and countercyclical aid to state and local governments.<\/p>\n
\u201cThe recovery was not sustained and the economy fell into recession in January 1980. The failing economy combined with rapidly rising inflation doomed Mr. Carter\u2019s re-election chances, along with the Democratic Party\u2019s control of the Senate and 33 Democratic seats in the House.<\/p>\n
\u201cPresident Reagan rejected temporary stimulus measures and instead proposed permanent income-tax rate reductions. His tax program, in conjunction with steady monetary policy begun by Paul Volcker, produced the promised results.<\/p>\n
\u201cBy late 1982 the recession was over and in early 1983 employment and investment began to rise rapidly. In 1984, it was \u2018Morning in America\u2019 and Reagan was overwhelmingly re-elected. Nearly two decades of strong, steady, noninflationary economic growth ensued.<\/p>\n
\u201cThe success of Reagan\u2019s permanent tax-rate reductions, juxtaposed against the clear failure of his predecessors\u2019 temporary Keynesian stimulus measures, put the Keynesian approach on the back burner. The extent to which temporary stimulus measures fell into disfavor is evident from President Bill Clinton\u2019s first year in office.\u201d<\/p>\n
Mirroring the national political landscape with local conditions, there\u2019s nothing here to adjust in hopes of spurring economic recovery or growth. Ours is a near-total loss of foreign capital that has gone home or south permanently. The apparel industry is history while tourism is swaying dangerously at the base. Caught with our pants down, there\u2019s daze and gray haze everywhere.<\/p>\n
It\u2019s a bit too late to attempt making a difference even with real cooperation. The situation simply deteriorated consistently and doesn\u2019t offer much hope for career recovery, especially for current politicians. People won\u2019t forget what they had to endure under your charge and several elections isn\u2019t going to change the powerful stench of neglect from you and the consequence of having to force your people to live in apocalyptic abject poverty. In brief, you\u2019ve turned paradise into a hellish hole. We\u2019re ready to reciprocate with the tip of our pencil soon!
\n* * *
\nA couple was dragged into court for failure to make payments on a loan. Neither one of them is working having been axed by the company when the rough got going. The couple lived on $100 food stamps with their kids. In court, they were asked to pay $50 per month to clear their utility bill. The husband conveyed that $30 is a more reasonable figure for he does lawn mower service on weekends. Asked if he could continue paying for his power bill, he related that he doesn\u2019t have any power for the last two years. Friends, this is an example of life in paradise that makes you wonder if this is what our destitute people bargained for\u2014joblessness and misery. Think about it. Si JR.<\/p>\n
[I]DelRosario is a regular contributor to the Saipan Tribune\u2019s Opinion Section.[\/I]<\/p>\n","protected":false},"excerpt":{"rendered":"
There\u2019s the direct relationship between actions taken or otherwise by politicians that carve or dictate their political demise. The future of an imperiled Fund\u2014payless paydays for retirees, loss of health care, brutal austerity, killer surcharge fees, spikes in price of basic consumer goods, among others\u2014are issues that voters will definitely recall when they next visit polling places. A good majority of them would be very unhappy campers.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-155650","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/155650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=155650"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/155650\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=155650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=155650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=155650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}