In all the fire and fury over whether we should raise or cut taxes, or how we can pound the deficits and a monster national debt into submission, the role of economic growth doesn’t get the attention it deserves.
President Obama rarely mentions the term. Probably because the gross domestic product, the broadest measurement of all goods and services that the economy produces, has been so weak under his administration that he is embarrassed to talk about it.
Democratic leaders in Congress have all but dropped economic growth from their vocabularies because they don’t understand what it means or what policies affect its growth or contraction. The nightly news shows, and the national news media in general, deliver reports on the battle over the looming “fiscal cliff” without uttering the term.
It’s the critical factor, however, in a prosperous, expansionary, wealth-creating economy. Wealth — it’s another term you don’t hear much from the president because the people in his party consider it a naughty, illiberal word that draws boos from his Democratic base.
In fact, wealth creation is at the center of a healthy economy because it provides the resources needed for venture capital investment in new industries and businesses, large and small, that open employment opportunities for a growing, vibrant nation.
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REVEREND C.L. BRYANT: By telling the truth about who they’ve been historically. That has been distorted. The truth of the matter is this – and Mr. Reed did in fact say well, the president did well through the south – but the truth of the matter is this: take away this president’s skin color and take away the race card that is played so often with this president and there’s really no reason for black people to vote for him or Latinos in that frame as well, because when you look at the unemployment rate among those two demographics, when you look at the poverty rate among young white females, there is no reason for anybody to have re-elected this president in those demographics except for the emotional issue of race.