AFF Chicago Celebrates the Inauguration
The Chicago chapter of America’s Future Foundation hosted their first roundtable of the year on January 21st, 2009. The roundtable addressed the question of what an Obama administration will mean for the U.S. economy. Our panelists covered an array of economic lessons, perspectives and current event related legislation that, as lovers of liberty, we need to watch out for.
Giving the conversation a global perspective, Phil Wilhelm started the discussion with an ear to how Obama’s policies will affect currency. Giving examples from his own work, Phil emphasized the importance of maintaining sound economic, global trade and government debt policies so the U.S. dollar does not collapse, and cause a global currency crisis.
Gus Makris highlighted the threats to health care that could be on the horizon since the swearing in of our 44th President. Gus walked us through the typical situation of an American family, and although most of their views might be interpreted as conservative, their views on health care are most likely shifting to the left. Gus called on the political right to become the modern day equivalent of the trustbusters, noting how history has proven costs and expenses fall when we remove obstacles to the free market.
Alex Makris then provided some current event themed analysis of the economic bailout plan. Alex focused on the banking and real estate markets and made the point that many of our legislators are under the delusion that “you can get something for nothing.” Alex also provided an ample amount of examples highlighting how the “Troubled Asset Relief Program” is already failing to fix the problems it was designed to provide solutions to.
Professor Todd Henderson summed things up by stating we need to “revitalize ourselves” in order to get the U.S. economy back on track. The solutions government has tried to install, even given the good-hearted nature of them, have not worked and instead caused “a bi-partisan phenomenon of disaster.” Professor Henderson called on us to remember the words of Adam Smith and rediscover “productive activities,” and not wait for a government handout.
For the full conversation, please listen to the audio of the event available here.