The Time Is Ripe for a Third-Party Presidential Candidate

Donald Trump essentially represents an independent third-party candidate, since he is a self-financed, non-ideologue, who seems to believe as I do that neither political party has a monopoly on poor public policy.

While never a politician or government employee, Trump brings transferable skills and experiences to the table: an innovative, creative and productive entrepreneurial record.

The following article was originally published on Friday, November 15, 2013.

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By Barry Elias | Friday, 15 Nov 2013 07:17 AM

The credibility and trustworthiness of both political parties have waned significantly over the past few decades.

Extreme political polarization in Congress and recent polling that indicates many people would not elect their current Congressman suggests the time is ripe for a centrist, third-party candidate for president.

Republicans and Democrats created the public policy landscape that caused the financial crisis, which continues to this day.

After a $29 trillion Wall Street bailout, Main Street has barely felt a nudge, and Obamacare and the government shutdown have further eroded the future of our fiscal integrity.

Andrew Huszar, a former Federal Reserve official in charge of administering the massive bond-buying program labeled quantitative easing (QE), suggested in a Wall Street Journal op-ed piece that this was the first time in the nearly 100-year history of the Fed in which mortgage bonds were purchased from banks.

The result was a huge windfall for banks. They received nearly $4 trillion in capital over a five-year period from the Fed and recorded massive profits as a result of low-borrowing costs, bond capital gains and brokerage commissions for the bond-purchasing transactions.

However, this $4 trillion expenditure created only $40 billion in economic growth, or 1/4 of 1 percent — a very poor return for the American people indeed.

Further, Democrats are beset by Obamacare and Republicans by the government shutdown and intransigent social policies.

The Real Clear Politics eight-poll average indicates Congressional net disapproval has grown from 22 percent to 75 percent over the past four or five years (a 53-point negative move). Since the beginning of his term, the president’s net approval has fallen from 44 percent to -11 percent (a 55-point negative move). Net approval of their own Congressperson fell from 47 percent in 1990 to 1 percent today (a 46-point negative move), according to the Gallup.

In 1992, Ross Perot won nearly 19 percent of the presidential vote when the political chasm was much smaller. Eighty years earlier, Theodore Roosevelt captured more than 27 percent of the vote in the 1912 presidential election running as the Progressive “Bull Moose” candidate, garnering more votes than his Republican counterpart, William Taft.

Today, a third-party presidential candidacy can be viable, since both party brands have been severely tarnished in recent decades.

This independent candidate must embrace the best of both parties — a fiscal conservative who demonstrates compassion toward the indigent and a social moderate who empathizes with the vast complexities of the human condition.

New Jersey Gov. Chris Christie will have a very difficult time surviving the Republican primary despite his social conservative credentials, and Hillary Clinton is beset with huge policy failures that will hurt her at the national level.

The issues surrounding Hillary Clinton include the Benghazi debacle and her overwhelming support for the sinking Obamacare legislation. The Affordable Care Act (ACA) is eerily reminiscent of the massive universal healthcare overhaul in 1993 that she chaired under President Bill Clinton, which was jettisoned in bipartisan fashion.

Recent efforts by Bill Clinton to remedy the ACA may prove insufficient in salvaging her reputation. Bill Clinton has recommended that President Obama fulfill his powerful, oft-repeated promise that you can keep your doctors and insurance plan if you so choose.

There is a tremendous void in the center that awaits an independent, third-party candidate for president — one who can champion a clear path toward economic prosperity, individual responsibility, equal opportunity and respectful empowerment for those facing tough times.

If ever there was a time for an unprecedented independent win, this is it.

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