As we look forward to 2011 – with optimism or pessimism – a lot of how well we do economically will depend upon our personal and united actions as we deal with our individual and national debt.
We can make big differences, depending upon how we address our many challenges. What will “happen to us”? And “what can we do about it?”
As January begins, we must admit that our economy is not so good as we would like for it to be.
We have, for instance, far too much national debt – $13.9 trillion! We have to pay interest on it – hundreds of billions of dollars a year!
Isn’t this a time to try to avoid adding to the burden of debt and interest by reining in government spending?
Unemployment, meanwhile, is almost 10 percent. When we have all the jobs we need, we tend to get along pretty well. But joblessness is painful. We need to do more of the things that generate jobs and payrolls, and eliminate more of the things that tend to depress our economy.
We certainly don’t want to raise taxes, a prospect that so far Congress has rightly avoided. Rather, we need to do the things that can reduce governmental, business and personal inefficiencies.
We need real recovery from the recession. That’s not easy. But there are things that “need” to be done, and there are things we can “avoid” doing. We need to “accentuate the positive” – such as free-enterprise investment – and “eliminate the negative” – such as further unconstitutional spending.
Saying “build a better mousetrap” is trite, but if we don’t need more mousetraps, what do we need, and what can we produce economically – and sell advantageously?
Successful free enterprisers find and do the things that produce opportunities and meet needs for goods and services – generating jobs and benefits for all. But we tend to take free enterprise for granted, and sometimes we even hinder it.
Prosperity is not automatic. But neither is recession nor depression inevitable. Actions have “causes” and “effects.”
The economic principles that pay off are not really a secret. Look at our history. Producing goods and services that people need, want and can afford may speed us out of recession, with benefits for all, if it is accompanied by reduced government spending.
The challenge is to “sort out” the needs and opportunities and then to produce goods and services at competitive prices to meet those needs and thus take full advantage of those opportunities.
Frankly, we do not always like facing such challenges. But doing so can be the springboard toward innovation and, ultimately, a higher standard of living.
Chattanooga and Chattanoogans are very fortunate that we have several fine new industries and businesses coming here – joining many that are already here. They offer us some economic opportunities that can spread like ripples on a pool – when we “do the right things” to encourage success all around.
The year 2011 begins with something less than economic comfort – but with great economic promise for local free enterprise economic progress.
We have opportunities that many other communities do not have. We hope Chattanoogans will “seize the opportunities” to make 2011 a “boom year” for material, emotional and uplifting spiritual benefit for all of our people and our wonderful community.