Super-Pinocchio alert!

What is this?  Why, it's our old friend, the inspiration for the Pinocchio series of posts, Senator Ron Johnson!  I'm going to have so much fun with his most recent newsletter! Blogger really sucks at copying/pasting, so I'm going to have to fix the formatting.  Do you suppose if I send him a note asking him nicely to put his newsletters online so it's easier for me to mock him, he'll do it?  I don't suppose so.

Senator Johnson Outlines Plan for Economic Recovery

In the Washington Times this week, I outlined my plan for economic recovery. Since taking office in admittedly tough economic conditions, the president has taken America 180 degrees in the wrong direction. His failed $825-billion stimulus, Obamacare,  Dodd-Frank and the explosion of his administration’s other  job-killing regulations have combined to put a stranglehold on our economy. Until these policies are reversed, the lack of confidence that dampens consumption, business investment and job creation will be the order of the day. Unfortunately, Mr. Obama is blinded by ideology and refuses to acknowledge the harm his agenda has wreaked on America and our economic future. Fortunately, some in Congress understand the harm his agenda is causing and are working hard to reverse course.

As the former chief executive officer of a midsized manufacturing business, I do understand the value of the real job producers in America.   I also understand how Mr. Obama’s policies affect their ability to expand their businesses and create new jobs. What we need to do to get our economy moving again is pretty obvious. Here’s a short outline of the necessary components of a solution:

• Repeal Obamacare and Dodd-Frank: Neither of these laws fixed the problems they were designed to solve, and instead, they do far more harm than good.
• Regulation moratorium: The $1.75-trillion-per-year regulatory burden is making the United States a very unattractive place for  global business investment. Imposing a moratorium on new regulations is a necessary first step in reversing the damage. A bill I introduced last month would do just that.
• Credible plan to control spending: The elements of the “Cut, Cap and Balance” plan had the support of 66 percent to 74 percent of the American people. Once consumers and investors are  convinced we have spending under control, confidence will return  to our economy.
• Tax reform: Our 70,000-page tax code costs taxpayers more than $300 billion in annual compliance costs to raise $2.2 trillion in revenue. It is riddled with special treatments that result in less efficient economic behavior. Reforms should make the system  more streamlined in a way that promotes rather than harms economic growth.
• Budget reform: I will work with House members to pass legislation that will:

              1. Replace “base-line” budgeting with “zero-based” budgeting.

              2. Require Congress and the administration to make all  entitlements structurally solvent for 75 years by fiscal 2014.

              3. Require all spending to be authorized regularly by Congress.  (Currently, 70 percent of the budget is on automatic pilot.)

              4. Replace the annual budget process with a biennial budget process that authorizes spending in Year 1 and conducts spending oversight in Year 2.

• Civil service hiring freeze: Controlling the size of the federal work force would be a powerful tool in limiting the size, scope and cost of government.
• Energy security: The United States should protect our national security and help ensure price competition by fully utilizing our own natural energy resources.
• Congressional “sunset” committees: Both the House and Senate should have permanent committees whose only focus would be on the elimination of unneeded laws and regulations. More often than  not, government has become part of the problem instead of the solution.

I am willing and eager to work with anyone who is serious about addressing the long-term fiscal crisis facing our nation. Hopefully, Mr. Obama will begin to realize the harm his agenda has caused and work with Congress to reverse course quickly.

Let's go through this step by step.

• Since taking office in admittedly tough economic conditions, the president has taken America 180 degrees in the wrong direction.  Below, courtesy of Steve Benen at Washington Monthly, a graph of monthly job gains/losses:

 

 Red is toward the end of the Bush presidency, when the economy crashed.  Blue is the Obama presidency.  Is the good Senator saying he wants a return to the direction of the economy under Bush?

• His failed $825-billion stimulus, Obamacare, Dodd-Frank and the explosion of his administration’s other job-killing regulations have combined to put a stranglehold on our economy. Whoa, that's quite a mouthful.  Let's unpack that a bit.
• Stimulus:  I don't know, this looks like the stimulus saved our butts.  Too bad we don't have another one for another jump-start.

• Obamacare: Does Senator Johnson understand that one cannot do a reform overnight?  That any reform takes time?  That it won't be fully implemented until 2020, with many of the major reforms occurring in 2013?  He brags about running a company, so even he should understand it takes time to line up all the elements.  He can't just go out on the floor and say, "You know what, toss those into the trash, we're going to do it this way instead."  No, he has to design products, line up new suppliers, figure a thousand details before the first new product rolls off the assembly line.
• Dodd-Frank: I'm frankly mystified by his, and other Republicans', position on financial reform.  Wall Street nearly trashed our country, and we spent massive amounts on bailouts.  Why wouldn't we, as taxpayers, want some kind of protection?  Just like health reform, it takes time to implement the financial reform.
• Explosion of his administration’s other job-killing regulations:  Republicans really love that turn of phrase, don't they?  "Job-killing regulations!"  They do toss it around at every chance they get.  Unfortunately for them, the truth is something else.  A survey of small businesses found that they weren't worried about regulations.  Indeed, some even welcomed them, and expressed a willingness to close some tax loopholes.  Guess who hates regulations?  Big corporations.
•  The elements of the “Cut, Cap and Balance” plan had the support of 66 percent to 74 percent of the American people.  Does Senator Johnson mean this CNN poll that, if you go into the gritty details, showed that 64% of respondents supported both spending cuts and tax increases?  The one that says 63% of Republicans have not acted responsibly in the debt ceiling debate?  The one where responses to Question #24 on potential cuts are virtually the opposite of Senator Johnson's positions?  Oh, that poll.
• Unfortunately, Mr. Obama is blinded by ideology and refuses to acknowledge the harm his agenda has wreaked on America and our economic future. Projection, baby, projection.
• Tax reform: Our 70,000-page tax code costs taxpayers more than $300 billion in annual compliance costs to raise $2.2 trillion in revenue. It is riddled with special treatments that result in less efficient economic behavior. We actually agree on the special treatments thing, although I imagine our definition is different.  After all, it was Senator Johnson's party that vigorously defended the tax loophole for corporate jets.  You know, the same corporate jets that corporate executives seem to be using as a personal perk for vacations rather than solely for business.
• Civil service hiring freeze: Controlling the size of the federal work force would be a powerful tool in limiting the size, scope and cost of government. The same federal workforce that's already at a relatively low level even though our population has grown?
• Energy security: The United States should protect our national security and help ensure price competition by fully utilizing our own natural energy resources. Well, perhaps companies should start fully utilizing the drilling permits they do have, rather than leaving 2/3 idle in 2010?
• Congressional “sunset” committees: Both the House and Senate should have permanent committees whose only focus would be on the elimination of unneeded laws and regulations. More often than not, government has become part of the problem instead of the solution.  Isn't plagiarizing unethical?
• I am willing and eager to work with anyone who is serious about addressing the long-term fiscal crisis facing our nation. I think the past few months have shown that Senator Johnson isn't. 

Phew!