As the U.S. political season heats up to a climax of potential presidential party nominees and the forthcoming election Super Bowl on November 8, the major two party platforms are loaded with vote-getting rhetoric.
In the case of the GOP, the following promises are not only nonsensical, but militate against good economic judgment:
- Major tariffs against foreign imports, especially from China and Mexico, with whom trade balances with the U.S. are out of whack. This is primarily due to U.S. conglomerates having established low-cost manufacturing bases in these countries.
- Mass deportation of 11 million “illegal aliens” that have infiltrated over the years. This is not only impractical, but would play havoc with the already shaky employment situation, much of which is dependent on many of these undocumented refugees, especially in the retail sector of small business.
- Manufacturing job return. Bringing back tens of thousands of jobs that have been transferred to low cost production centers abroad, depriving the U.S. of manufacturing employment. This is now down to less than 10% of those fully employed in the U.S. overall employment segment, the lowest percentage since the mid-20th century. Much of this is also due to increased technology that is equally “guilty” in reducing hands-on jobs.
In the case of the Democrats, its platform recommendations are equally absurd:
- Free college tuition, and universal healthcare, as espoused by Senator Bernie Sanders (I-VT), are non-starters, especially with a runaway U.S. national debt approaching $20 trillion.
- Legitimization of sanctuary cities is not only un-American constitutionally, but invites a future “fifth column,” that could wreck this nation’s political/economic stability.
- A $15 or higher federal minimum wage. This could severely impact many small, independent businesses and instigate a new wave of unemployment.
- The practical elimination of fossil fuels (coal, oil, and natural gas) has already succeeded in killing off much of Appalachia, but is now in the process of shrinking oil and natural gas production, with the unproven theory that renewables (solar, wind, geodesic) can become a viable substitute.
- Giving a further free hand to the Environmental Protection Agency, whose regulations have already caused inestimable damage to employment and fossil fuel excavation, under the guise of “climatological stability.”
While both major political parties maximize those issues, most likely to instigate their electorate, their platforms, if eventually actuated, would prove deleterious to their electorate, the business sector, large and small, and the future of the U.S. as the leading, most respected global nation ever.
Q: Is increased politicization an economic stumbling block?