With T-minus 7 days until the Super Committee's deadline to find $1.2 trillion in deficit reduction, the countdown has begun and Republican Presidential candidate and businessman Herman Cain today asked, "Where is the presidential leadership?"
The President's lack of leadership and obvious failure to reduce the nation's debt in half, as promised, has exacerbated our debt crisis to $15 trillion - over $48,000 of debt for every American man, woman and child.
It's very unlikely the Super Committee will achieve anything meaningful with respect to budget discipline. While there are many reasons for this, the biggest is the lack of presidential leadership.
"President Obama hasn't demonstrated an understanding of how far beyond its means the federal government is living. Consider: The president touted $1.2 trillion in slowing the rate of government growth over 10 years as a major achievement but thought nothing of perpetrating an $862 billion 'stimulus' package just months after taking office. And when it didn't stimulate any economic growth, he asked Congress for another spending extravaganza worth more than $400 billion," said Cain.
While President Obama sits on the sidelines and career politicians fight over what programs to cut, the American people are suffering and demanding new leadership in the White House. Of course, all of this requires an understanding of the problem, and the political will to actually solve it. And that will require new leadership, because we already know the current leader has failed on both accounts.
"We must immediately cut spending - for real, not the Obama way - and remove the barriers to growth. We must simplify the tax code, which my "9-9-9 Plan' does. According to former Reagan Treasury official Gary Robbins, of Fiscal Associates, the '9-9-9 Plan' will expand our GDP by $2 trillion, create 6 million new jobs, increases business investment by one-third, and increase wages by 10 percent," Cain said.