The Fed contributed to the financial crisis, keeping interest rates too low for too long. I give them credit for responding and stabilizing the economy and the financial sector during the crisis. But then they tried to do too much with quantitative easing that went on forever, just dramatically exploding their balance sheets.
When American workers are losing their jobs to people in other countries, Washington cannot afford to ignore this disturbing trend any longer. While Democratic presidential candidates want to just blame U.S. corporations, the reality is that their strategy won't help protect American workers or save their jobs.
No one has yet convinced me a dollar stranded overseas is better than a dollar brought back home here to America for any reasons. So, if a company needs it, whether it's to do research, buy another business in America, grow jobs or try to become more financially strong, that is good for the United States.
The harsh reality is that we simply cannot tax our way out of our overspending and debt problem. We need a balanced approach that includes both a stronger economy to generate new tax revenues and bipartisan guardrails, which will help ensure that future presidents and congresses spend within our means.
One of my most rewarding congressional duties is nominating future military leaders to study at America's service academies. The exceptional young men and women who receive these coveted nominations earn a top-of-the-line education and the opportunity to serve their country as a military officer.