BoatBanter.com - View Single Post - Why Republicans Have it Wrong on the Economy

X ` Man[_3_]

On 5/29/12 10:30 AM, wrote:
On Tue, 29 May 2012 09:47:10 -0400, wrote:

Simply and well stated facts.

Why Republicans Have It Wrong on the Economy
Guess what? Europe is officially back in a recession. Unemployment is
up, profits are down. But not here in America. Not yet anyway. And the
reason? While European countries inflicted huge cutbacks in government
jobs and services, American government invested in the private sector.

True, government jobs and services are on the downturn in the US, but
the difference is that while Europe exercised austerity measures,
America had a stimulus package.

Despite the hand wringing and protests from the right, the federal
government single-handedly saved the American auto industry. Had the
Republicans been in power in 2008 we would no longer have an auto
industry in America today. And millions more would be out of work.

What concerns me is that this could have a ripple effect on our economy.
Will Europe?s economic woes, based on Republican ideals of economic
austerity, translate into a recession here, despite our best efforts to
create an economy that is slowly but surely improving?

And Americans need to ask themselves if they are better off now than
they were at the end of the Bush regime. A regime that seems to have
brought down the world economy in the blink of an eye. They need to ask
themselves that question, because the answer is invariably ?Uh?.yeah.?

Europe resorted to austerity because they ran out of other people's
money to spend. That is going to happen to us too.
Entitlements and interest on the debt consumes every dollar we take
in. The rest is borrowed

There used to be a sort of equilibrium between the right wing's
rapaciousness and the determination of the lower and middle income
classes to climb up the ladder of success. But the rich have, for the
most part, cut the rungs off the bottom and middle of that ladder.
Without a strong middle class and the ability of the masses to achieve
it, there's little reason for this country to exist.