Manufactured Deficit Nonsense

Manufactured Deficit Nonsense

 

Increasing the deficit in a fragile economy is no more “Pro-Debt” than a family taking out a thirty-year mortgage. Budget cuts, on the other hand, are the major reason for our slow-growth economy. Republican austerity is sabotaging economic recovery. All previous recessions were reversed by government spending––including under Reagan. Only against a black man like Obama could crisis after crisis be manufactured by just to gain political power even if it results in American economic failure. Economists agree only a strong stimulus will effectively jump-start the economy after a recession. But Republicans continue to march in lock step to cut workers, reduce unemployment compensation, and stymie critical spending thus ensuring all efforts at stimulus will fail. Under the guise of good business practices, Republicans have done their best to hurt not help the economy. Republicans don’t want jobs; they want greater profits and greater productivity. Business profits are at all time record high. Trillions of dollars in profits are sitting waiting for Republican congress to remove taxes and regulations, while corporate profits are hidden overseas. Traditionally, in a poor economy, business fires employees, squeezes workers, cuts benefits, and offers lower wages. Workers suffer while management reaps bonuses for greater productivity. Production is already 33% higher in 2012 than in 2008. Despite Republican obstruction, the deficit has fallen every year for the past decade. Despite Republican budget cuts, employment has risen steadily since Obama took office. Talk about balancing the budget is just a distraction. Business does not operate on a balanced budget and neither do consumers. The only people who profit in today’s economy are those ready to borrow and spend. 

 

 

 

Richard Dorsey, Hacienda Heights, CA

 

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