After Dispiriting Year in Washington, Reasons for Optimism in 2012

The ball has dropped, the last verses of Auld Lang Syne have been sung, the last hint of smoke from the fireworks has drifted to nothing, and party favors litter the floor. Another year is in the books. And frankly it was one many of us would as soon forget.

A year when Congressional Democrats likened spending money to saving the world; the national debt topping the $16 trillion dollar mark; the US credit rating downgraded after the debt limit debate yielded no substantial reforms; and President Obama abandoning any notion of governing, opting instead to focus on his reelection.

Yes, it was a dispiriting year, filled largely with worries of a double dip recession, and only spotty speculation about a recovery. It was another in an ever-growing timeline of high unemployment, sluggish growth, and lingering housing problems.

Worse still, it displayed once again Democrats’ utter aversion to solving the looming fiscal crisis that hovers ominously over America’s collective heads. Rather than agree to sensible reforms, or even engage in the conversation, they have taken to attack ads – setting back the reform process and potentially damning the solvency of the programs they claim to love.

That is not to say that no rays of light found their way through the dark clouds. Although no large cuts were made, newly elected Republican majorities in the House of Representatives were able to stem the tide of red ink that threatens to drown future generations. In doing so they were able to shift the national conversation away from “how much can we spend” to “where can we sensibly cut.” That is a question that should bear more fruit in the new year.

A conversation has also been started over how best to reform our broken tax code. According to the latest studies, the code takes 7.64 billion man-hours to comply with at a cost of $227.1 billion and does little to make us competitive in the world. All told, America continues to have the second highest corporate tax rate in the world, bucking the global trend of lowering rates. But there are signs that could change. Every Republican candidate for president has made it a key plank of their platform and even President Obama has indicated his willingness to pursue the issue.

Although Congressional Democrats remain staunchly opposed, the President has also hinted at a willingness to tinker with entitlements. Most recently, Rep. Paul Ryan, a Republicans, and Sen. Ron Wyden, a Democrat, have put forward a bipartisan plan to reform Medicare. As the debt looms larger and the fate of Greece becomes all the more real, there is reason to believe that the spark of reform could finally catch in 2012.

But perhaps the biggest reason for optimism is the election that will take place in a little more than 10 months.

Our nation has stagnated under Obama, crushed beneath the weight of an ever-growing federal government that spends our money with impunity. The national debt, the uncertainty of rising taxes, and burdensome federal regulations have served to yoke our once vibrant economy.

But that could soon change. 2012 will bring the chance to elect a new President, one who understands what it takes to succeed in a global economy, rather than one who has merely read about it within the ivy walls of academia. It brings an opportunity for a smaller, more responsive, more effective Washington that spends every dollar with the same care as a struggling family would. And finally, it offers hope of a new administration committed to helping the private sector thrive without the Solyndra-like scandals that have made many question the prevalence of crony-capitalism.

Sadly, 2011 brought far too little for far too many. Too little jobs, too little money, and too much Washington. But with hard work, a successful election, and a dash of hope, that could all change in 2012. Here’s to a Happy New Year…