Thursday February 4, 2021
There is a package in Congress to fix the economy. It’s price tag is 1.9 trillion dollars. Republicans want it to be more like 600 billion. Why? No reason. Just like the last time with Obama they wanted a smaller number. Obama gave it to them and then they didn’t vote for it. Hopefully, we’ve learned our lesson.
Paul Krugman says that 1.9 Trillion is the minimum we need. Who are you going to trust the world’s leading economist or Susan Collins/
Krugman doesn’t stop there. He says this is not a package to goose the economy. It is a package to save us.
What do the Republicans recommend? Less. Why? They don’t know. They feel uncomfortable.
Let’s review.
When Trump came in the economy was doing well. When he left it was a shambles.
When W came in the economy was okay. When he left it was a shambles.
Reagan inherited an economy that was on the upswing due to the valiant efforts of Paul Volker and Jimmy Carter. Reagan proceeded to put us in debt but the economy was doing okay. Yeah, he screwed over the unions and the middle class hasn’t recovered but you can argue the economy was doing okay. Same for Papa Bush but when Bill Clinton took over he had to do some major cost cutting and actually balanced the budget and left a surplus. A surplus that could have been used to put Social Security on a firm footing but instead was squandered by W.
Carter inherited the tanked economy from Ford and Nixon. Inflation had been running wild. The Republicans couldn’t stop it. Carter did.
It doesn’t matter how far back you go the lesson is the same. Republicans screw up the economy. Don’t do the basic things you need to do to fix it, and they put us deeper in debt. They claim to be conservative, but they always ALWAYS spend more than Democrats.
Lesson – If you want the economy fixed and working put a Democrat in the White House. (And give them a Democratically controlled House and Senate.)
Zactly!