Could that be because of the near total collapse of the national
economy, the loss of 40% of the middle class wealth, the attacks on
women, workers, elderly by the GOP since the late 80's?
>==============================================
THE BUSH ECONOMIC DISASTER
Perhaps it is a little unfair to George W. Bush to name it that,
perhaps a more accurate term would be the Reagan/Bush Economic
Disaster. Though the damage all came to a head this day one year ago,
it was set in place by the bill of goods sold to the American People
by smooth talking right wing pitch man Ronald Reagan in 1980.
Reaganomics once refereed to as "voodoo economics" by George H. W.
Bush was put in place that eventually lead to the disaster of last
year.
The Republicans sold the American people on a concept that if you take
away all regulations, all responsibility and all oversight, the market
will protect us naturally. That if you make the rich wealthier, the
benefits will trickle down to the rest of the nation. What happened
instead is the rich did indeed get richer. Meanwhile the numbers of
the poor increased, and the middle class shrunk. For the first time in
our nations history average incomes went down yet the wealth of he
nation was concentrated in fewer and fewer people's pockets. To
further complete the redistribution of wealth, those who's greed and
irresponsible behavior got rich, also were given tax breaks. The
burden increased again on the poor and middle class.
Then came George W. Bush. Not only did he continue the Reaganomics
policies but added to them. He passed laws to protect credit card
companies from its own customers allowing them unfettered control over
interest rates, fees and collections. The Bush Administration then
took away the teeth of the bankruptcy protection laws making it harder
for the middle class who came upon hard times to recover. Then the
death blow, George W Bush and a Republican Congress for 6 out of his 8
years in office took our budget from a surplus to a 17 trillion
deficit. Throwing away money on a war of choice, and more tax cuts for
the wealthy again leaving 95% of Americans behind.
Jobs left, opportunity left, false wealth exploded, risk exploded,
oversight and regulation was non existent. And as always happens
sooner or later when irresponsible behavior rules it came time to pay
the piper. So one year ago that was clearly evident to all with the
collapse of Lehman Brothers. \line\line So what has happened in the
year since. Well good news and bad news. George W. Bush is out of
office and our new President Barack Obama, took quick and decisive
action to stop the bleeding. Many banks were saved, The stock market
had recovered 50% of its losses since last September. The amount of
job loss has been reduced. An auto industry who's collapse would have
cost millions more jobs was averted. Home sales are up, home values
are up. Cash for Clunkers gave a huge shot in the arm to the auto
industry. Finally the middle class got a tax cut.
But now the bad news. The lack of rules and oversight left over from
the Reagan/Bush economic voodoo has not been corrected. Though we put
some oil in the car to prevent the blowing of the engine at the last
minute, we continue to drive and treat the engine the same way which
will lead to another disaster sooner or later. No new regulations have
been implemented, no major change in oversight, and the wealth is even
more consolidated then before. In fact 3 of every $10 invested in
banks or securities in this nation are held in one of 4 very large,
very risky institutions.
(
Life is for moral, ethical and truthful living.
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