ization of government services and more tax cuts. Administration officials call this the Ownership Society but most ofits central tenets have been staples of laissez-faire economics since at least the 1930s: abelief that a sharp reduction or in some cases elimination of taxes on incomes largeestates capital gains and dividends will encourage capital formation higher savingsrates more business investment and greater economic growth; a belief that governmentregulation inhibits and distorts the efficient working of the market; and a belief thatgovernment entitlement programs are inherently inefficient breed dependency andreduce individual responsibility initiative and choice. Or as Ronald Reagan succinctly put it: Government is not the solution to our problem;government is the problem. So far the Bush Administration has only achieved one-half of its equation, http://www.cheapvansshoessales.com - vans authentic ; theRepublican-controlled Congress has pushed through successive rounds of tax cuts buthas refused to make tough choices to control spending special interest appropriationsalso known as earmarks are up 64 percent since Bush took office. MeanwhileDemocratic lawmakers and the public have resisted drastic cuts in vital investments and outright rejected the Administration s proposal to privatize Social Security. Whether the Administration actually believes that the resulting federal budget deficitsand ballooning national debt don t matter is unclear, http://www.cheapevansshoes.co.uk - where to buy vans shoes in uk . What is clear is that the sea of redink has made it more difficult for future administrations to initiate any new investmentsto address the economic challenges of globalization or to strengthen America s socialsafety net. I don t want to exaggerate the consequences of this stalemate. A strategy of doingnothing and letting globalization run its course won t result in the imminent collapse ofthe U.S. economy. America s GDP remains larger than China s and India s combined, http://www.cheapvansshoessales.com - fake vans . For now at least U.S.-based companies continue to hold an edge in such knowledge-based sectors as software design and pharmaceutical research and our network ofuniversities and colleges remains the envy of the world. But over the long term doing nothing probably means an America very different fromthe one most of us grew up in. It will mean a nation even more stratified economicallyand socially than it currently is: one in which an increasingly prosperous knowledgeclass living in exclusive enclaves will be able to purchase whatever they want on themarketplace private schools private health care private security and private jets while a growing number of their fellow citizens are consigned to low-paying servicejobs vulnerable to dislocation pressed to work longer hours dependent on anunderfunded overburdened and underperforming public sector for their health caretheir retirement and their children s educations. It will mean an America in which we continue to mortgage our assets to foreign lendersand expose ourselves to the whims of oil producers; an America in which weunderinvest in the basic scientific research and workforce training that will determineour
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