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The Judge explains why Washington’s approach to economic stimulus will never work and how we can actually restore prosperity in America
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Does the government work for us and we worked for the government the president is still pushing his jobs bill.
Tonight if your question -- -- get a job than you would -- from a why take it.
President Obama has nearly added four trillion dollars to the debt on the backs of our children and grandchildren and the generations of Americans as yet unborn.
Republicans as well as Democrats in congress authorized him to borrow all this money and He has done so at a rate unknown in history.
In less than three years in office President Obama has borrowed more money.
-- all presidents from George Washington to George H.
W.
Bush combined.
In 13 day period last month He -- a 163.
Billion dollars a new record for three days because because of all that borrowed and spent money.
The cost for food clothing and fuel is about 25% higher today.
That -- President Obama took office unemployment which was at 6% when He became president.
Now hovers steadily -- higher than 9%.
That's about fifteen million American adults out of work -- looking for jobs.
And the president wants to borrow another half trillion and spend -- between now and Election Day.
The president has passionately argued.
For passage of his jobs bill He claims that the bill is enacted the government will create new jobs basically wants to borrow another half trillion dollars today.
And then and a few years when he's no longer president have the IRS tax the rich to pay back the -- money.
There are profound problems with this first government spending does not produce prosperity.
Prosperity real wealth real jobs real growth only comes about through real risk and real reward stated differently.
The government cannot make us prosperous if it could while the federal government would just have the Federal Reserve print cash for all of us some would all be rich.
Everyone knows that won't work we'll end up paying a thousand dollars for a loaf of bread.
Second you cannot make poor people rich by making rich people poor.
The richer the risk takers the investors and the employers they create -- they produce prosperity they create jobs.
Candidly I'd laugh whenever -- hear the president or his Republican critics point a finger at each other and ask the other side what it is done to create jobs.
The true answer is the government doesn't create jobs except for the bureaucrats and fires.
It doesn't produce wealth it consumes it.
The answer to what the federal government should do that only a few of articulated is get out of the way.
Lower taxes cut regulations.
Stop the bailouts stop picking winners and losers stop borrowing money.
And bring the troops home now.
Just like you and me.
The -- -- of the world should rise or fall.
On the skill of their work on the value of their products.
Not the strength of their political contacts contacts or the easy use of your hard earned tax dollars.
The federal government was really serious about creating jobs it would shut down the unnecessary parts of the government.
Like the energy commerce education.
Housing and urban development and interior department's all this would unleash the private sector.
With the cash that would otherwise go to the -- and that cash -- invested.
Would create jobs.
As for the president's jobs bill well the democratic controlled senate last week defeated.
It did so after the government's own research arm the Congressional Budget Office revealed that the cost to the government.
To produce a 100000.
Dollar -- your government job.
Would be about 200000 dollars.
Need I -- more yes.
And the -- and it now let the free market and cash determine interest rates the Federal Reserve has simply unleash the federal government to spend.
Whatever it wants and it has done so.
By -- the cash the government needs in keeping interest rates artificially low.
It's its cash printing.
Has devalued the dollar by 93 cents so what you could buy with a dollar a hundred years ago.
When the Fed came into existence costs 21 dollars today.
This was not always the case in the 125.
Years that America existed before the Fed the value of the dollar went up not down.
So what cost you a dollar and 1787.
-- ninety cents in 1913.
And it was all backed by gold -- the dollar had real value.
The gold standard we'll keep the government from spending what it doesn't that.
When you could take your dollars to the treasury and it would give you the fair market value of those dollars and gold the dollar was worth far more than it is today.
Today.
We don't know the government owns any more gold.
Now which of the presidential candidates understands all this and which will bring you differing versions of the policies that are brought us here.
The answers are obvious from New York --
