House Speaker John Boehner (R-Ohio) declared that he has been in the House for 22 years and that we have never cut spending. This from the man who tried to spend $3 billion on an alternative jet engine the military did not want, and never specifies any of the cuts he says are required. Now, it appears, Republicans will get their sequester. They will also, in the process, shatter any doubt that government spending indeed creates jobs, the only remaining myth that has not been thoroughly debunked by events, at least since 1937-8. Republicans have perpetrated four major myths about economic policy, aka "RepubliCONomics." These myths have served their paymasters' interests, but have brought down a once prosperous country with a large, strong middle class to a nation beset with a shrinking and struggling middle-class and increased concentration of wealth and power at the top. Myth #1 Cutting taxes on the wealthy fostered economic growth and job creation. Myth #2 Tax cuts pay for themselves. Myth #3 Removing regulations would spark a flurry of economic activity, job creation and growth. Myth #4 Government spending not only does not create jobs, but is actually inimical to it. As job losses rise and economic growth slows, and as key programs -- e.g., the National Institutes of Health will lose $2.5 billion, rental assistance for the poor $2.3 billion, nutrition for women and children $0.5 billion, and so forth -- that Republicans assume no one cares about getting the axe, and real pain in individuals' lives is felt, not only will the final nail-in-the-coffin of RepubliCONomics have been hammered, but the Republican Party will have sealed its fate. What, after all, remains for them to yammer about? Full Article: http://x2t.com/reps
Posted by wisemagic