To the editor:
As a former Ohioan based in Lewis Center, but a current student at a university in Montreal, I have been closely following the U.S. presidential election. As a current student in a class called the “Political Economy of Trade Policy,” I am very interested in the proposed economic policies of the numerous candidates.
Many know the Republicans tend to lean towards fewer taxes and less government involvement, where the Democrats tend to lean towards more taxes and a running a deficit, with a lot of government involvement.
Not distinguishing myself as a member of either party, I caution fellow voters to go back to the basics and consider the effects these policies would have on the economy. For example, it’s a simple rule that an increase in government spending will increase our GNP (gross national product) and GDP (gross domestic product), and supposedly create a multiplier that stimulates the economy … but one must also be aware that more spending will increase the interest rate, thus de-stimulating investment and potentially putting the economy right back to where it was before the increase in spending.
Hence, I want fellow voters to truly think about the economy and what their goals are for it. Would they rather have more public programs, but take the hit of a government deficit or more taxes? Would they rather have more freedom in the economy with less government involvement, but be less equal as an economy as a whole? Although very simple concepts, I certainly believe in the importance of understanding and appreciating the basics and the potential bounce-back effects from them not necessarily described in traditional discourse.
Therefore, I wish for fellow voters to sit down and think about how they want the economy to be run, while truly considering the effects of this economy and what trade-offs they’d be willing to make when considering who they’ll vote for this fall.