Debt Crisis Sham

August 17, 2011

Debt Crisis Sham

The national debt has no bearing on the economy. National debt is not a factor in business investment. The ratio of National Debt to Gross National Product does not affect business confidence. National debt has little to do with new jobs, the stock market, or return from the depths of the Republican Great Recession.  The world’s leading nations have larger debts than ours.  American families average several times greater debt ratios to revenue. American business has always had greater debt to income ratios greater than the government.  Growth demands increased debt. Cutting debt, especially in a poor economy, worsens it. The Republican debt crisis is a sham. Cutting spending cuts jobs. Cutting jobs reduces consumer spending. Cutting jobs and reduced spending is the major reason for lack of consumer confidence. Lack of consumer confidence is the reason for lack of consumer demand. Lack of consumer demand is the reason businesses are not hiring. Cutting government spending is hurting the economy; Cuts make the Republican Great Recession worse not better. Why would Republicans want to hurt the economy instead of helping? Because Republicans want the Obama/Democrats to fail believing voters who are hurting will forget who caused the bad economy and reelect them. The debt crisis has been created by Republicans to distract congress from passing measures to speed recovery. Republicans are willing to let the nation’s fail, willing to default on national debt, and willing to defend corporate tax cheats as good business. Expert economists tell us the solution to recovery is: 1. Balance revenue to expenditures by reducing expenses, revising the tax code and closing tax loopholes.  2. Create new business and new jobs with joint government/private business ventures. Expert Republican manipulators, however, are selling No Compromise; don’t give an inch until Republicans are back in political power. Richard Dorsey, Hacienda Heights

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