Friday, June 1, 2012

Job Numbers Sign of Anemic Recovery

In response to "Mitt Romney Calls May Jobs Report 'Devastating News' For American Workers":

I am amazed that the economy improved at all. The Democrats in the Senate had only 59 votes 2009-2010 because the Republicans kept Franken (D-MN) from taking his seat until July of 2009, which was after Kennedy (D-MA) resigned due to his illness. Under the rules of the Senate, any legislation required a 60 vote majority, so the Republicans were able to kill 400+ bills passed by the House with the threat of a filibuster. After the 2010 elections, the Democrats had an even smaller majority. Republicans became the party of NO, and vowed to do whatever it took to make Obama a one-term president.

The wealthy pay an effective tax rate of 16%, the lowest in more than 50 years. Most of their income is not even subject to payroll taxes. Republicans have done nothing to improve the revenue side of the equation. Their prescription is for austerity for everyone except the super-rich. This policy is the same one hampering European recovery. With middle-class wages being stagnant, the demand for products is also anemic. Add to that state cost cutting measures that are still resulting in large numbers of layoffs.

Even Mitt Romney has admitted that continued austerity measures are likely to send us into another recession or depression.

So to blame the economy on Obama not only misses the point, but threatens to result in the election of even more conservatives with their disastrous policies.

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