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In the aftermath of the debt default drama, leading Republican presidential candidates are painting clearer pictures of what their positions are on major economic issues and it ain’t exactly pretty....   >>>

In the aftermath of the debt default drama, leading Republican presidential candidates are painting clearer pictures of what their positions are on major economic issues and it ain’t exactly pretty.



A closer look at these positions would betray radically conservative positions that have not been heard of since the candidacy of Barry M/ Goldwater in 1964. That may be an exaggeration perhaps but it looks like the key positions of these candidates involve significantly reigning in the federal government’s capabilities by cutting down on spending, cutting down on taxes, and stopping or repealing existing regulations. There are no new initiatives or positive agenda that is being offered, only repeals and retrenchments it seems.



Michelle Bachmann and Ron Paul have staunchly refused to raise the debt ceiling in spite of the disastrous after effects of a possible debt default and an American economy that can drop like a box of rocks. Bachmann has also sdeclared her opposition to extending unemployment insurance for the jobless and that she’d push for the repeal of both the Obama health care plan and the Dodd-Frank financial reform law. She has also been widely quoted as saying that Citigroup and General Motors should have been allowed to go bankrupt without government help -- something that could have sent the economy reeling if Michelle Bachmann was in power to get her way implemented.



Meanwhile, Texan Rick Perry has shared his brilliant idea of repealing the 16th Amendment which would in effect eliminate income tax. Income tax, incidentally, accounts for 80 percent of government revenue. How the government would function under such conditions has yet to be explained by Perry but it is fairly easy to understand why the idea could be found appealing. Imagine how “Look Ma, no income tax!” can become a popular slogan, if ever.



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