September 17, 2012

More Clear Thinking on the Economy, or Austerity is a Ruinous Plan Right Now

Robert Reich has it correct.  He reiterates much of what we said in this post.  Jobs will be created at a faster rate when consumers buy more stuff.  It's a virtuous cycle.  Moreover, austerity and the "fiscal cliff" will sink us into recession, leading to less spending and fewer jobs.  That's an un-virtuous cycle.

In a related story, are you wondering why the R's keep coming back to the fiscal policy of their demigod, Ronald Reagan?  Business Insider also has a great post by Joe Wiesenthal explaining why Romney has no answers for unemployment, because his retread of trickle-down policy won't help in the current market conditions.  The Reagan years are over. These are not the same economic conditions that we faced in the 80's faced, and a tired retread of that policy won't help us.

Think about that before you head into the voting booth this Fall.

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