WASHINGTON - Libertarian Party Executive Director Wes Benedict has released a video response to President Obama's jobs speech. The video is available here:
A transcript follows:
“My name is Wes Benedict and I'm the Executive Director of the Libertarian National Committee in Washington, DC.
I have a message for the American people in response to President Obama's proposal tonight for an American Jobs Act. I also have a few comments about last night's Republican Presidential debate.
Unemployment is at 9 percent. Four years ago, in late 2007, unemployment was less than 5 percent. Then in 2008, President Bush mailed out millions of 300-dollar government stimulus checks. Later that year, he supported the massive TARP bailout. Unemployment rose. In 2009, President Obama said if we passed another big stimulus plan, unemployment would stay below 8 percent. Now it's at 9 percent. Government spending does not help the economy, it hurts the economy.
Stimulus spending doesn't create jobs, it destroys them. When investors hear that the U.S. government is going to flush more money down the spending hole, they react immediately by cutting back on investments that would have created jobs.
Government stimulus spending benefits a few, but at great expense to everyone else. Politicians like to be able to say they're "doing something," but too often, "doing something" means handing out money to special interests. Often these programs are promoted with false claims that they will benefit the poor and middle class. Usually the opposite happens.
We don't need the government "doing something" if it involves more spending and new programs.
We'd be better off if the government stopped trying to help, and gave Americans a chance to recover, adjust their plans, and start solving economic problems themselves.
However, if politicians feel like they must be seen "doing something", then they should cut spending, bring our troops home from the Middle East, reduce Medicare and Social Security benefits, cut taxes, and eliminate burdensome licensing laws and minimum wage laws. Licensing and minimum wage laws take the bottom rungs off the economic ladder.
The President's tax cut proposals are good and bad. Libertarians always support broad-based tax cuts. But targeted special-interest cuts and loopholes just amount to social engineering, and they pit different interest groups against each other. And tax cuts without spending cuts virtually guarantee that future generations will suffer a heavier tax burden.
It's foolish to talk about increasing taxes on the wealthy. That would be a great way to destroy even more jobs. Libertarians want to cut spending, and cut taxes for everyone.
Last night, I watched the Republican Presidential debate, and it was the same old nonsense from Republicans. They sometimes say they are for free markets. Yet, Mitt Romney defended his Romney Care plan. Rick Perry boasted about his new 3-billion-dollar taxpayer funded medical research center in Texas. Newt Gingrich said we need to grow revenue. Mr. Gingrich, the last thing we need is to put more money into the incompetent, wasteful, and corrupt hands of the federal government.
Libertarians want less government, and more jobs. We support free markets, civil liberties, and peace.
You can find out more on our website at LP.org.
Thank you, and good night.”
For more information, or to arrange an interview, call LP Executive Director Wes Benedict at 202-333-0008 ext. 222.
The LP is America's third-largest political party, founded in 1971. The Libertarian Party stands for free markets, civil liberties, and peace. You can find more information on the Libertarian Party at our website.
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