Tuesday, August 28, 2012

The people don't buy Republican economics anymore

Signing the Affordable Care Act
In the September 3, 2012 issue of Time magazine, Rana Foroorhar ["It's the Stupid Global Economy"] argues that the "voters don't blame Obama for low growth--and prefer spending to cuts."

I hope she's right, because the Republican economic plan as present by Romney/Ryan would be even more devastating that the George W. Bush plan, and the latter put us so deep in the toilet we'll be shoveling crap for many more years.

Foroohar notes that we are very much part of a global economy and that that economy has become much more complex and difficult than it was even a few years ago.  Our citizens "know that many of the headwinds facing our economy aren't due to  any particular Obama policy but to problems abroad..."

Furthermore, it is obvious that the Ryan budget is a disaster and gives to the rich while taking away from the middle-class and the poor.  They know that Romney's personal tax rate of a mere 13% is a joke and an insult!  Not only so, but Foroohar thinks Romney's evasiveness, his vast amounts of money stashed away in devious overseas accounts, gives people the feeling the system is rigged against them.  How many typical middle class people would know how to begin hiding money even if they had some to hide?

Foroohar ends her article thusly:

"Americans simply don't buy into supply-side economics anymore.  An April CBS News/NY Times poll found that when it comes to deciding the best way to promote economic growth, most Americans prefer spending more on education and infrastructure while raising taxes on the wealthy and businesses to pay for it (56%) ... [...]

"Americans overwhelmingly want the government---the government!---to do more to help the financial situation of the middle class, and that desire cuts across party lines."

Foroohar then notes that many business execs think Obama would be better for the economy than a Republican president.

That's not surprising, says Foroohar:  "CEOs look across the Atlantic and see austerity as a failed policy in Europe.  A reading of economic history tells them that although tax cuts have never led to a growth boom, government spending on smart things like infrastructure and education has.  Voters seem to have treated Obama's first-term economy as a write-off---like the Romney's horse.  They're more interested in the future.

"That's why Obama may still have one."

I think a lot of folks are praying to their God she's right!  Even a bunch of Republicans.

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