-Libertarian National Committee (LNC) Chairman William Redpath released the following statement Wednesday:
“Americans have always bounced back from adversity by exercising the freedoms guaranteed by limited government, which is why Libertarians are so disappointed in the recovery-delaying policies laid out last night by President Obama.
“No nation has ever spent its way out of a recession. In fact, budget-busting policies, like those proposed by President Obama, and our society’s overreliance on debt, are largely what got our economy into this needless situation.
“Obama’s statement that ‘A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future’ was particularly disturbing. He wrongly assumes that tax money belongs to government, not the taxpayer it was taken from, and only government can create prosperity. The private sector’s investment, not government’s, is what is really responsible for the wealth of ordinary Americans.
“The American people know better. They know entrepreneurs, not government, create prosperity for all. That is why they agree with Libertarians that tax relief for employers and taxpayers must be at the center of any stimulus plan.
“Instead of an unceasing focus on ‘jobs’ the government should be creating the conditions for wealth creation for long-term prosperity. Government policies should be changed to stop rewarding debt incurrence and to promote private savings and investment.
“Sadly, President Obama is taking America in a different direction. His promise last night to raise taxes on employers will delay our eventual recovery, prolonging the suffering of the unemployed and underemployed.
“I hope President Obama is serious about ending ineffective programs. We shall see. I was also heartened by his call for Universal Savings Accounts for all Americans as part of Social Security reform, but future details will have to be carefully examined.
“I salute Governor Jindal’s opposition to the large stimulus bill, and his mea culpa on behalf of the Republican Party. Republicans have a well-earned reputation for expanding deficits, bloated budgets and government largesse. The Medicare entitlement expansion, ‘No Child Left Behind’ and TARP bailout are just a few of the Republican proposals responsible for our unsustainable budget. Hopefully, as the current opposition major party, the Republicans can return to the limited government beliefs that the Libertarian Party has never abandoned. President Obama last night simply promised to carry on the Republican legacy of explosive spending and expansive welfare that not only creates a generation of dependents, but also got us into this situation to begin with.
“America is unique in its greatness and the promise it offers it citizens to live their lives as they please, so long as they do no infringe upon the rights of others. The Libertarian Party stands alone as the only party that still believes in the protecting the civil liberties Americans have fought and died to protect, as well as the entrepreneurial spirit that creates prosperity and jobs. The American people agree, and we welcome them to join their friends and neighbors here in ‘the Party of Principle.’”