TRUTH SERUM FOR THE LIARS CLUB

Today I will deal with two aspects only, (1) the misinformation campaigns organized by those who wine and dine on our dollar, and seem to suffer from an attention deficit disorder, the Liars Club who most recently seems to seriously consider the use of the N-Word, I'll come to that later and (2) I will shortly discuss another aspect of the donut representing the economy, though while semantic only it helps understanding the economy . First lets look at the Republican Choir Boys who all seem to have one thing in common, a severe learning disability, the disability to learn that this country facing the very real possibility of a depression - needs immediate action, not obstruction. According to the Bureau of Labor Statistics, the U-6 unemployment rate is not 8.1% but 16% as of February 2009. I will come back to the issue of tax relief as stimulus, a Republican strategy practiced for 8 years.
McCain claims that this years budget is the largest earmark case ever and Obama broke his promise of change. Lets see now, Obamas promise was to cut earmarks back to the level of 1994. As Keith Olbermann of MSNBC correctly points out, in 1994 the total of earmarks was $7.8 billion, the current budgets earmarks are $7.7 billion. Mission accomplished. As to Mitch McConnell, he used to brag about the earmarks he managed to get for his state, even ran his campaign on it. --- I have made my position clear on previous occasions. It is a well established fact that corporations, employees and the Government participate in the economy. From the point of view of the economist, it is irrelevant who contributes to the monetary flow, whether these are consumers, corporations or the government is irrelevant. Sure, the government may not be the ideal contributor - but then as the Germans say in an emergency the devil eats flies. For that reason alone I have no major problem with earmarks as long as they inject money into the domestic monetary flow. Our situation is too serious to listen to the Republican Choir Boys. Every unemployed not only means a loss of purchase power, which in turn reduces the cash flow to corporations, i.e. suppliers, but it relieves us from expending money on unemployment benefits. And that is serious. On the basis of the official unemployment rate of 8.1 percent, or roughly 5 million unemployed, we spend over the entitlement period alone over $15 billion in unemployment benefits.
Now to another subject: the Republicans being in total disarray - begin to use the N-Word ever more often: NEWT GINGRICH. Newt is another one of those who seriously claim that the FDR approach didnt work. I have news for Newt: Read my Math! And look at the number, first Hoover, then FDR.

Category:

News & Politics

Tags:

• MITCH
• MCCONNELL
• JOHN
• BOEHNER
• MCCAIN
• REPUBLICAN
• MONETARY
• FLOW
• ECONOMY
• UNEMPLOYMENT
• U-6
• U-3
• NWT
• GINGRICH