The Four Horsemen of Economic Apocalypse

by Dick Armey, Real Clear Politics: Like most conservatives, I look at the looming November election with a certain sense of gloom. While Senator McCain has a good shot at taking the White House, Democrats look certain to expand their majorities in both the House and Senate by considerable margins. As the Democratic Party gathers in Denver this week, it will lay out an aggressive policy agenda worthy of Franklin Delano Roosevelt. The 111th Congress has the potential to pass legislation of the magnitude of the New Deal and Great Society; indeed, we may face a historic turning point in our economy in the wake of the 2008 election. Examining the legislative proposals laid out by Democrats for a potential Obama presidency, I see the four horsemen of the economic apocalypse gathering on our horizon.

The first horseman will bring higher taxation, which, as students of Economics 101 learn, destroys incentives to save and invest, reducing economic growth. . . .

The second horseman, seen lurking Capitol Hill for nearly a decade, is energy regulation. . . .

We can expect the third horsemen to unleash a new wave of union building legislation in the 111th Congress, beginning with "card check," a plan to boost sagging union membership by eliminating the secret ballot when it comes to the important decision of whether workers want to unionize. . . .

The fourth horseman first began to ride during the 1930s under President Roosevelt, and came of age during the Great Society. This horseman is government-run health care, and a new Congress provides the perfect opportunity to expand. Rather than harnessing the market and empowering individuals, expect to see policies that expand the role of government in the health care system, with more bureaucrats, more price controls, and more taxes to pay for it all. . . .

Our economy rewards entrepreneurship and investment, allowing all Americans to benefit. The policies of the four horsemen share a top down, command-and-control philosophy that is out of step with global economic trends and costly for America's taxpayers and consumers. In fact, the four horsemen have the potential kill the goose that laid the golden egg, shackling an economy that has allowed generations of Americans to prosper. Is this the legacy, high taxes and a stagnant economy, we want to leave our children? [Full Story: The Four Horsemen of Economic Apocalypse] Former House Majority Leader Dick Armey is chairman of FreedomWorks in Washington, D.C.

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Tags: Apocalypse, Dick Armey, Economics, economy, energy regulation, Four horsemen, government regulation, higher taxes, Real Clear Politics To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!