If you don’t agree with this, you are, as a matter of fact, wrong:
The Republican message is bloated government is responsible for the lousy economy that most people continue to experience. Cut the bloat and jobs and wages will return.
Nothing could be further from the truth….
The truth that Obama and Democrats must tell is government spending has absolutely nothing to do with high unemployment, declining wages, falling home prices, and all the other horribles that continue to haunt most Americans.
Indeed, too little spending will prolong the horribles for years more because there’s not enough demand in the economy without it.
The truth is that while the proximate cause of America’s economic plunge was Wall Street’s excesses leading up to the crash of 2008, its underlying cause — and the reason the economy continues to be lousy for most Americans — is so much income and wealth have been going to the very top that the vast majority no longer has the purchasing power to lift the economy out of its doldrums. American’s aren’t buying cars (they bought 17 million new cars in 2005, just 12 million last year). They’re not buying homes (7.5 million in 2005, 4.6 million last year). They’re not going to the malls (high-end retailers are booming but Wal-Mart’s sales are down).
Only the richest 5 percent of Americans are back in the stores because their stock portfolios have soared. The Dow Jones Industrial Average has doubled from its crisis low. Wall Street pay is up to record levels. Total compensation and benefits at the 25 major Wall St firms had been $130 billion in 2007, before the crash; now it’s close to $140 billion.
But a strong recovery can’t be built on the purchases of the richest 5 percent.
The truth is if the super-rich paid their fair share of taxes, government wouldn’t be broke. If Governor Scott Walker hadn’t handed out tax breaks to corporations and the well-off, Wisconsin wouldn’t be in a budget crisis. If Washington hadn’t extended the Bush tax cuts for the rich, eviscerated the estate tax, and created loopholes for private-equity and hedge-fund managers, the federal budget wouldn’t look nearly as bad. (Link. Of course, no one who matters listens to Reich.)
Just if you need some proof how completely anti-American Republicans policies and goals are, there’s this.
This won’t stop Walker. Maybe if the Big Media bothered to start sounding the tocsin (actually, they’re misrepresenting things*) that what he’s trying to do is a) fiscally irresponsible and b) the legalization of simple corruption, maybe. On the other hand, these are sick people. Took World War II (and the disaster of the Nazis’ fiscal irresponsibility) to bring down the Nazis. (*And here the Times fails to note that part of the problem with the Wisconsin bill is the fiscally irresponsible corruption.)
Of course, actual reporting is being discouraged by our government — so much for a free press.
Bailing out speculators and cutting public sector spending gets you this is Ireland. Laws are in fact laws, contrary to Republican lies; if it happened like this in Ireland, it’ll happen here:
Unemployment is up to 13.8 percent (it was as low as 4.2 percent as recently as 2005); public spending has been savagely and repeatedly cut since 2008; the deficit has risen to 14.3 percent; and current predictions suggest that 100,000 people will emigrate in the next several years, from a population of 4.3 million. The bill from the struggling banks may, in the end, total upward of $135 billion 100 billion euros, in an economy with a G.D.P. of $220 billion 160 billion euros. (Link.)
Atrios errs again: Hoover was far more progressive than the current Republicans.
Josh Marshall is doubly-wrong here: There are no Republican “first line” candidates for president because the entire party’s pretty much sociopathic and/or completely corrupt and b) history, before it died, said you didn’t have to be a first line candidate to get elected.
President Huckabee is essentially a racist. He defends the indefensible.
Anyone want to defend the Republicans’ hatred of knowledge?