Charter

                       

A) Economy

With a cognizance of our national security, an awareness of the scientific community’s research into global climate change, and a desire to create new jobs, we must as a nation bring to a halt our national dependence on fossil fuels and foreign oil. To this end, we call for a “Manhattan Project” or “Apollo program” level of national commitment and research into green energy solutions.

Another drain on our economy, that has so far yielded poor results with no abatement, is the “War on Drugs.” This party recognizes that the criminalization of drug use stems from a position grounded in religion. Free adults should be able to enjoy recreational drugs, provided that they do not abuse them in public or in a destructive manner. Therefore, the NAP advocates decriminalizing the use of drugs and instead find reasonable alternatives of taxation and regulation, creating jobs in the drug sector and eliminating vast drug cartels.

Balancing the budget is important, and finding programs among the Federal departments that can be downsized or eliminated is a difficult task. However, some programs, due to their nature as a lifeline for the disadvantaged, should never be cut. The NAP does not consider programs that contribute to the social welfare of our least wealthy citizens to be eligible programs for elimination.

For 55 years from 1933 to 1988, the US suffered no major banking collapses or financial crises. But in 1980, with the repeal of key provisions of the Glass-Steagall regulation along with other regulations, Savings and Loans were once again able to take undue risks outside the long-term public interest. Peaking in 1988, the US Savings and Loans crisis was the first major collapse of US financial assets since the great depression. But damage done by deregulation wasn’t finished. In 1999, another major provision of Glass-Steagall, which prevented commercial banks from acting as investment banks, was removed. Nine years later, due to a massive demand for commoditized, high-interest, mortgage assets resulting from this deregulation, the US and world economy collapsed under the weight of the worst economic crisis since the great depression.

In short, we need a return to the kinds of regulations that protected our economy against the worst market excesses and manipulations. Dodd-Frank did not go far enough and we are open to further and worse collapses unless we re-establish sound banking and investment policy. The NAP calls for the reinstatement of the Glass-Steagall Act.

 


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