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Barack Obama  |
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Rob Kailey is a working schmuck with no ties or affiliations to any governmental or political organizations, save those of sympathy.
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Fri Jul 02, 2010 at 08:44:46 AM MST
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| The voices are getting shriller.
Paul Krugman, Nobel prize winning economist: We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost - to the world economy and, above all, to the millions of lives blighted by the absence of jobs - will nonetheless be immense.
And this third depression will be primarily a failure of policy. Around the world - most recently at last weekend's deeply discouraging G-20 meeting - governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending.
[...]
And who will pay the price for this triumph of orthodoxy? The answer is, tens of millions of unemployed workers, many of whom will go jobless for years, and some of whom will never work again. Richard Trumka, President of the AFL-CIO:Face it: The private sector's job-creating machine is dead in the water. The private sector created only 83,000 jobs last month. That's better than losing 700,000 jobs a month, as we were when Bush left office, but it's not enough to put America back to work. And unless Americans are earning paychecks and spending to pump fuel into our economy, there's not going to be a continued recovery.
But every effort to dig us out of our 10.5 million jobs hole is being stymied by budget hysteria. And it is hysteria. I'm not saying the federal budget doesn't need attention--it does, but over the long term. Right now we have an immediate jobs crisis. And unless we address it now, we'll only make the nation's economic conditions worse. Members of Congress who pay lip service to the deficit, undermine stimulus, and create long-term holes by supporting things like the elimination of the Paris Hilton Estate Tax (e.g. Stephanie Herseth Sandlin) do our country a grave disservice. You couldn't address your household budget by taking your new 4-wheeler and boat off-budget (wars) and quitting your second job (estate tax) while cutting out fresh vegetables (infrastructure and education) in the name of austerity.
This is rambling now, but the bottom-line is the same: the political philosophy of the TEA Party, copied by so many members of our Congress currently, is a recipe for the destruction of our nation in both the short- and the long-term, as it drags out our current recession and lays the groundwork for the decline of our nation by failing to make the basic investments in our people and our infrastructure that we will need to have a competitive economy.
Despite winning everything over the past several years, too many Democratic leaders still act like sad sack losers who got the shit kicked out of them. They've been predicting their own defeat for every election of their lives. And the started anticipating defeat this fall basically when the last Congress started. |
| Matt Singer :: Getting America Back to Work |
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