America Has a Bright Future, Despite Our Current Problems

Perseverance and spirit have done wonders in all ages.
-General George Washington¹

I believe things are slowly getting better in the United States. I know that there’s a lot of doom and gloom around, but I see signs of improvement and hope for the future. The economy is growing—not nearly as fast as it usually does after recessions—but the trend is positive. Unemployment is unacceptably high, but this year about 200,000 net new jobs are being created each month on average. Housing prices are probably within a year of bottoming, in my opinion. Government spending and debt are still out of control, but voters are starting to demand that politicians come up with a plan to fix it. I’m cautiously optimistic that over the next two to three years Congress will agree on some new ideas that will result in some beneficial cuts in spending. I believe it’s also possible that Washington may adopt more pro-small business, pro-growth policies that will unleash the economy for strong expansion. If that happens, tax revenues will go up because of all the new economic activity. A combination of spending cuts and strong economic growth will reduce the annual budget deficit substantially. I think it’s likely to happen, because I believe that’s what we Americans want to happen.

Despite living in tough economic times, each of us has a lot to be thankful for, including the fact that we live in this great country. I think about the blessing of being an American citizen almost every day. We could have been born in a part of the world where living conditions are harsh, where people don’t have the opportunity to pursue a better life, or even where human life is not valued. But instead, we live in a place where the people who came before us sacrificed greatly to build a country where we are safe to be free. I believe America is a special place, with an exceptional national character that will enable us to overcome current and future problems and build a better life for the generations that come after us.

We all know we’re living in an era of problems. The worst ever, if you listen to some of the pundits. In fact, some people think America is on the decline and that we are destined to be a “has been” country that was once great, but has become just another European style welfare state.

I don’t share that point of view. I believe that the American “can do” spirit is still beating in the hearts of most of our fellow citizens. We’ve had problems before, and we’ve overcome them. Remember the high inflation-low growth “stagflation” of the 1970s? That decade ended ugly, with 13% inflation, sky high interest rates, and a deep recession. Then, in the early 1980s, we changed our economic and tax policies to promote growth. As a result, we had an economic rebirth in the 1980s and 1990s. Further back, we survived and recovered stronger than ever from the 1930s depression and World War II. In our 223 year history as a nation, we’ve had many examples of severe problems that we’ve overcome. Most of those problems seemed almost insurmountable at the time, but we eventually figured out what to do. We argued, voted, overcame setbacks, sometimes changed course, worked hard, served and died in the military, started businesses, sacrificed, and built this great country stronger than it had been before. I believe that the willingness of Americans to work hard and overcome our current economic problems is still there.

I don’t know what all of the solutions to our current problems of a slow growth economy and overspending government will turn out to be. We’re having a national debate about what the role and size of government should be. It’s not over, but neither is our future. We’ll figure it out, and come out of these times with a vibrant economy and a feeling of national purpose to lead the world in the direction of freedom by setting the example. I’ve always believed in the strength and goodness of America. It’s why I decided when I was a ten year old boy to serve in the Marine Corps when I grew up, and it’s why I’m an entrepreneur now. It’s also why I’m optimistic about our future.

This isn’t a prediction of what the stock market will do, where interest rates will go, or who will win the next election. It’s my vote of confidence in America.

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¹ Quoted in David McCulloch, 1776 (New York: Simon & Schuster Paperbacks, 2005).