Once in a while you meet an individual whose values and ethics restores your faith in mankind. I have recently met such a person and I am pleased that he has allowed me to ask him a series of questions pertaining to some of the most important issues facing America today. In my next two articles we'll get up close and personal with potential presidential candidate, Dr. Ben Carson. Be sure to share this with your friends, family members, and anyone else who would either appreciate or benefit from a dose of common sense.
Mike Patton: There has been much debate about the role of the federal government. At one end of the spectrum are those who believe Washington should be smaller and more efficient, providing a framework which enables businesses, charitable organizations, and individuals to prosper. At the other end are those who believe we should increase the size of government and the welfare state. Realizing that socialists and non-socialists alike share a common goal of providing assistance to those who are truly in need, the socialist wants to feed everyone while others want to teach men to fish. How would you attempt to bridge the gap between these two opposing schools of thought?
Dr. Ben Carson: The government plays a very important role in our society. It is important however to remember that our system of government was designed around the people. Our government was to conform to the will of the people and be subject to the people. Its primary role is to facilitate life, liberty and the pursuit of happiness for the American people. By striving to create an environment that is conducive to economic growth, the government provides a mechanism whereby citizens become self-sufficient as well as becoming contributors to society. This is significantly better than making people dependent on government by just giving them increasing numbers of handouts. It is also important that the government provide a safety net for those who are truly unable to support themselves and have been abandoned by their communities.
Mike Patton: Many Americans believe the federal government wastes a great deal of money. What type of program, process, system, etc., would you consider implementing to address this inefficiency?
Dr. Ben Carson: There is a great deal of waste and fraud (italics mine) in government programs. Because the government is supported by taxpayer dollars, it is essential that we find ways to make it efficient. We need to modify government programs and make them conform to business models which work very well in the private sector. That means there must be accountability and results have to be the basis on which advancement and rewards are given.
Mike Patton: Since the Fed was installed in 1913 - largely as a result of the Bank Panic of 1907 - the exaggerations of the business cycle have been much less than during the 1800s. Are you generally "pro-Fed" or "anti-Fed" and why?
Dr. Ben Carson: There are both good and bad things about the Fed. It certainly is a stabilizing force for financial markets and has been helpful in averting panic in many situations. The big problem today is that its artificial suppression of interest rates through monetary policies changes circumstances that people used to count on for retirement and small business opportunities. When reasonable interest rates were in place, a person could work steadily for decades putting aside 5 to 10% of their weekly income into a retirement account and expect a reasonable return. That is no longer the case and many people who were formerly hard-working and self-sufficient are looking for other ways to ensure their long-term security. Furthermore, with such low interest rates, banks have no real incentive to make loans to individuals and small businesses. The interest rate of return is so low that they are likely to focus their efforts on much larger transactions. We need to enact Fed policies that take these situations into account.
Mike Patton: Several studies have been conducted to analyze the optimal size of government with respect to maximizing economic growth. The conclusion is that the larger the size of government, the more tax dollars it requires which reduces the amount of capital available in the private sector, thereby stifling economic growth. What are your thoughts on the optimal size of government?
Dr. Ben Carson: The size of our government is so great that it has a negative impact on economic growth and on the independence of American citizens. Our founders predicted that the government would grow to an unmanageable size if we were not vigilant. I believe it should be reduced by attrition. Thousands of government workers retire each year, and we simply should not replace them. Critical positions can be filled by moving people from one government agency to another. In about four or five years, I believe we would have a manageable sized government.
Conclusion
Many believe that our nation is on an unsustainable path. If so, we will hit an inflection point where we must act or forever endure the consequences. In part two of my interview with Dr. Carson we'll discuss the ailing Social Security system as well as other issues facing America today.
