James Lambert
It's time for 'key' Democrats & Republicans in Congress to do what's good for the country
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By James Lambert
July 14, 2011

Despite what the Dow Jones industrial average is telling you, the economy is in deep trouble. Unemployment throughout the country is much higher than bureaucrats tell us. (Fed analysts do no include those folks that have been looking for a job for more than 2 years or have just plain 'given up' in their figures). Further there are over 800 banks that should be officially closed by the FDIC but have not because bureaucrats fear that such massive closures would touch off a panic. All these banks are undercapitalized and according to traditional accounting rules should be closed.

Small business is simply having a tough time of making it in an environment where people are reluctant to spend their money. Public opinion surveys consistently tell us that over 60% of the public believe that the country is heading in the wrong direction. Today I spoke to a representative from the Harmon Company that manufactures the famous 'JBL' line of speakers. Sadly, they have moved their manufacturing of their well known high end audio speakers (from Los Angeles) to Tijuana and China. Clark foam, a well known foam board manufacturer, closed its California operation several years ago. Now a recent implementation of an Internet sales tax in California is driving out other well known businesses around my state.

Politicians on both sides of the isle need to understand that government needs to encourage businesses to grow instead of over regulating them. I'll never forget going to a car dealer about a year and a half ago and hearing a service manager complain of the twice weekly environmental inspections conducted by local and state regulators at his auto service business.

If Barack Hussein Obama is seriously interested in re-invigorating the economy he would follow the Texas model of business and encourage government cooperation with businesses instead of the model offered by my state of California. California's state government is over regulating everything. Is it any wonder why Carl's Jr. has recently discussed moving their corporate headquarters from Southern California to Texas? These are just a few examples of a state where over regulation has been pushed for years by liberal politicians in Sacramento. Washington should take note from California's dire example. Democrats and Rinos (Republican in name only) politicians in DC need to realize that we can't over regulate ourselves into prosperity. It simply doesn't work.

For the first time in my lifetime, there are now more people leaving my state of California than coming into it each year. Yet many local, state and federal government bureaucrats are clueless and continue to be out of touch with most of us. One example: the city of Vista (CA.) has raised its sales tax to high levels while demanding that local property owners be billed separately for street light and sewage expense. Meanwhile city leaders have built a new, multi million, state of the art city hall and office building.

As we continue to have this huge government spending crisis around the country, most government employees are, on average, being paid (and benefited) significantly more than those (with similar jobs) in the private sector. Their government (union negotiated) pension deals are generally viewed as financially unsustainable to us, the taxpayers.

It's time Mr. Obama wake up to the facts. This month our country is entering the 33rd straight month of federal deficits. That hasn't happened since record keeping regarding this statistic began in 1980. Our nation will cease to be a viable entity if these huge 1.5 trillion dollar federal deficits continue. Financial chaos will ensue unless drastic action is taken now. I encourage all of you to call your Congressional members and US Senators (at the Capitol switchboard: 202-224-3121) and voice your opinion today!





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© James Lambert

 

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James Lambert

James Lambert has a broad business background. After receiving his undergraduate degree from Linfield College (McMinnville, Oregon), Lambert pursued a career in banking by working in various management capacities for Crocker Bank, San Diego Trust & Savings Bank and First Interstate Bank (between 1973 and 1995). By 1990 Lambert received his Master in Business Administration from National University (San Diego). For 3 years, Lambert also taught Finance at Mira Costa Community College... (more)

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