Austerity

austerity

austerity (Photo credit: 401(K) 2013)

Give me that old-fashioned austerity
Give me that old-fashioned austerity
Give me that old-fashioned austerity
It’s good enough for me.
Who gave us the old-fashioned austerity?
Grandpa Herbert Hoover gave austerity to our grandparents
Father Ronald Reagan gave austerity to our parents
GOP leaders are giving austerity to you and me, saying
Give them that old-fashioned austerity
Give them that old-fashioned austerity
Give them that old-fashioned austerity
It’s good enough for them, but not the 1%.

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I accuse

The red "GOP" logo used by the party...

The red “GOP” logo used by the party for its website (Photo credit: Wikipedia)

I accuse the Current Leadership of the GOP (CLOGOP) of knowing better when it comes to the austerity they want to impose on the country. They know that Keynesian stimulus works to boost employment and GNP. The GOP has used stimulus repeatedly in the past to win elections when they were in power, and they followed re-election with a mild recession to offset the previous stimulus. They know it works. Herbert Hoover did not know it worked, and austerity in the 1930s made the Great Depression longer and more severe.

Now the CLOGOP are using the threat of more austerity to prolong the Great Recession for political gain. They don’t care about the suffering of Americans losing homes, jobs and access to health care. They intend to punish us until we vote to return the GOP to power in Washington, DC. The Great Recession is only an inconvenience to their masters, the 1%. The stock market is at record highs, reflecting the state of mind of the 1%, who own most of the stock.

Debt and deficits

The red "GOP" logo used by the party...

The red “GOP” logo used by the party for its website (Photo credit: Wikipedia)

What do debt, as in national debt, and deficits have in common, besides both beginning with the letters “DE?” I think that many Americans are confused about the difference and the media and the GOP are doing nothing to clarify the difference. If the Federal government spends more than it takes in in revenue, the difference is a deficit and that adds to the national debt, which we owe mostly to ourselves. The only way to reduce the national debt is to take in more revenue than we spend as a nation, run a surplus in other words.

The best way to reduce deficits and thereby reduce the national debt is to stimulate the economy to produce more jobs and thereby more tax revenue. Austerity does not work, just ask the European nations who have tried it since the crash of 2007, England, Ireland, Portugal, Spain, Italy and Greece. The nations of the Common Market, European Union, that embraced austerity as a solution did so at the urging of German bankers who wanted their loans repaid in full. Now Germany is finding that austerity by its customers reduces its ability to sell German products and that hurts Germany itself.

Here in the US, the GOP are selling austerity because some of the most conservative among them believe that it is morally the correct solution. In other words, don’t help the less fortunate among us because their misfortune is their own fault. They chose to be born to poor parents or they decided to be poor in New Orleans or they decided to live along the New Jersey shore and should have been better prepared for a hurricane. They are the true believers.

Those members of the GOP who are not true believers, but are more politically motivated, are selling austerity as a solution to the nation’s problems because it will only hurt the 99%, not themselves or the 1%. They believe that another 2 or 4 years of economic pain will cause American voters to turn to the GOP for relief. In other words, they expect voters to reward them for all the grief that they have caused or will continue to cause if we let them. And the corporate media are shirking their responsibility under the Constitution to inform the electorate. Shame on them.

Austerity and confidence

austerity

austerity (Photo credit: 401K)

The GOP are peddling austerity as a means to promote job creating confidence in the business community. They believe that Germany and Europe are on the right track and want the US to join them. All the austerity-produced confidence in the world will not produce any jobs if you and I lack the income (purchasing power) to buy what business is selling. Confidence and $5 will buy a burger and fries; confidence alone will buy nothing.

Leadership

Austerity

Austerity (Photo credit: GoatChild)

 

A true leader leads from the front, not from behind the lines. Now that he has the nomination sewed up, it is time for Mitt to show us what his administration would look like. He intends to give us austerity per the Ryan budget. I disagree with the prescription that the 1% gets tax cuts while the rest of us share the austerity. However, if that is what Mitt wants, then he should lead the way. He can start by refusing the President’s salary, he doesn’t need it, and he can pay for some of the perks of his office. Mitt, it is time to stop trying to be all things to all men/women, and start showing some leadership. Being President requires more than looking presidential.