Steve Forbes was in town recently as the keynote speaker at the annual Washington Day banquet hosted by the Creve Coeur Club of Peoria.  Mr. Forbes encouraged the audience to think globally saying we live in a global society and businesses have to tap into the global market if they want to succeed.  He congratulated the Greater Peoria Area, saying we exemplified globalism, highlighting the many companies, big and small, doing business around the globe.  He also touted the region’s ability to diversify and become a more progressive market. 

His message turned to a more serious tone when he dove into the nation’s current financial crisis.   He said we should rest assured that the county will pull out of this financial situation, but there are some hard lines that we need to take if we want to get out of it more quickly.  He made it clear this is not a partisan issue but rather an American issue. 

We need to deal with our monetary policy.  He said if the fed doesn’t create enough money our economy will stall out, if it prints too much we’ll flood the market, so it’s a very delicate balancing act to create the right amount so that we can move ahead.  Taxation needs serious overhaul according to Forbes.  The federal tax code includes over 9 million words and he suggested it needs to be simplified so that the American public can understand it.  He reminded the audience that taxation is not only about raising revenue but it can also be a serious burden to the public.  Forbes also indicated a serious need to cut government overspending and pension reform while also dealing with regulations and entitlements. 

On the topic of healthcare, he said we don’t have a real “free market system” in the healthcare industry because of a disconnect between the provider and the consumer.  He warned without reform the healthcare crisis will grow.  
He urged us all to get involved in making changes now or be advised that we are going to create more serious issues for generations to come.  He said if people (especially the younger generations) get involved and take pride in what they do it will help to create a totally new mindset that will help us avoid situations like this in the future.  

Forbes is editor-in-chief of Forbes Magazine as well as president and chief executive officer of its publisher, Forbes Inc. He was also a Republican candidate in the U.S. Presidential primaries in 1996 and 2000.