In times of economic downturn, we must keep in mind a few important keys to help guide us through:
- Government does not make money. Government agencies only spend the money tax-payers provide. Therefore any increases in government spending will result in tax-payers paying more into the government in some manner.
- The economic backbone of a society is the community workforce. Workers at all levels and business owners are the key to having a prosperous society.
- Increasing taxes only hurts those who have the best chance of turning around the economy. Higher taxes put a burden on workers who produce the increase for society.
- Government needs to tighten its belt just like businesses and families do.
- Becoming more responsible is the positive side of an economic downturn. We usually find a variety of things we can do without. As we distinguish necessities from like-to-haves, we find that prosperous times have opened the doors to many things that we can do without if we need to.
- Good government leadership is able to separate the essentials from the non-essentials, and be willing to cut non-essentials.
- Tough economic times have historically only lasted for a season (although it could last longer due to bad decisions). Coming through such a time makes us appreciate the things that are truly important, our marriages, our family, our friends and our communities and businesses.
| |