Obama returns from vacation, Heller focuses on economy

President Obama cut his vacation short not to focus on jobs or the economy but to head up the emergency response to Hurricane Irene. In his weekly address, Obama didn’t address Irene or even pivot to jobs or the economy, like he has said before; instead he took the time to call for the nation to visit a government website and volunteer to honor those who lost their lives during the horrific events of September 11, 2001. Hurricane Irene was big enough to shorten his vacation, but not big enough to mention in his address, he claimed his focus was on jobs after vacation but did not mention jobs or the economy in his address.
Senator Heller was tasked with the GOP response and quickly delved into issues that are facing many Americans in this economy, especially in his home state of Nevada; which has the unique distinction of leading the nation, not only in unemployment but also foreclosures and bankruptcies. Senator Heller took time to address the real issues that are hitting our state the hardest.
Why does Nevada have the highest unemployment rate in the nation? Nevada Policy Institute has released a study that might help us understand. One problem that leads to systemic unemployment lies in understanding of simple economics and that has to do with the supply and demand of credit, which is manipulated by the Federal Reserve and the banking industry. False credit creates bubbles and unemployment persists when those bubble burst. Misrepresenting capital savings isn’t the only thing that creates unemployment, government meddling helps to prolong the problem. Capital expenditures show consumer demand and when the government decides where the money goes instead of the consumer; it misdirects the use of the capital, instead of directing capital where it is needed, it goes to prop up a bursting bubble. Not only does the government misdirect funds, the massive spending actually prolongs the problems they created. When the government redistributes funds to spur growth it is actually taking money out of the economy. If you look at the government spending done during the Great Depression, most economists concur that government spending done during the Great Depression actually prolonged the misery. The only way for sustainable growth, which would increase employment is through savings. The credit market must be built on the economic laws of supply and demand, not on the manipulation of money done by the Federal Reserve, the banking industry or the political elite.
Nevada has been hit hard by the Great Recession, double digit unemployment for nearly two and one half years and bankruptcy and foreclosure rates that lead the nation. Our economy has been based on tourism and construction; we were hit hard when the housing bubble burst. It hit not only the value of our homes but also the construction industry and with the economy dragging not only in the United States but worldwide can be attributed to the decline in tourism. What needs to be done is to get the government out of the way, let the laws of supply and demand straighten out the mess so we can get on the road to recovery.

Please see my examiner article for links to sources.