ILMA Compoundings October 2016 - 59

LEGAL EASE

Get Out and Vote
in November
Jeffrey L. Leiter

W

ith the lead times for publication, I am writing this
column over the Labor Day weekend. While the
traditional presidential campaign moves into high
gear on Labor Day, this year seems different, largely because
of Donald Trump's candidacy. The electorate seems to have
been paying attention for months to both Mr. Trump, who has
flooded the media, and Hillary Clinton, who has been in the
public eye for 25 years.
However, paying attention and voting are two different things.
Looking at the tightening polls this weekend, not everyone is
sure how he or she will vote this November. The critical thing
is to exercise your franchise and vote next month. Encourage
your colleagues and employees to go to the polls as well.
As a political science student, deciding who to vote for in
November is a curiosity for me. To the extent that people
historically vote their pocketbooks, it is interesting to consider
the effects that Secretary Clinton and Mr. Trump might have
on our economy if elected. The economic recovery since the
Great Recession in 2008 is one data point to look at.
According to the government, there have been 30 economic
contractions in the U.S. since 1870. With the exception of the
Great Depression and the Great Recession, the economy

strongly rebounded each time. Digging a little deeper, between
the end of World War II and 2007, the U.S. economy grew at an
average annual rate of 3.5 percent. In 2015, adjusted U.S. Gross
Domestic Product increased only two percent, while the GDP
increased at an annual rate of only 0.8 and 1.1 percent in the first
two quarters of this year, respectively. Government economists
had predicted a 3.1 percent growth rate this year.
I don't have to tell most of you that the sluggish recovery
from the Great Recession has resulted in large increases in
federal spending, rising national debt, higher tax rates and
a slew of new laws, regulations and executive orders. The
Obama administration has asserted more government control
over health care, financial services, energy production and
manufacturing with more than 600 major rules, each with an
annual impact on the economy of over $100 million. ILMA
members are still reeling from the costs of OSHA's 2012 GHS
rule.
I don't have an axe to grind. But, to me, when making your
choices for president, members of Congress, and all the way
down the ticket to state and local offices, it is important as
manufacturers to consider which candidates are most likely
to continue the policies of higher spending, higher taxes and
more regulation versus those candidates who are most likely
to control government spending and allow companies such as
yours to innovate and grow without more restrictive and costly
rules.
I often see references in the
media to people staying home
and not voting in November. Each
individual can make a difference
and should participate in the electoral
process. Making a difference also means
ensuring that your colleagues and
employees understand the importance of
participating, too, and that their votes mean
something.

Compoundings October 2016 * 59 * Vol. 66 No. 10
ILMA Compoundings October 2016

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