truth-has-a-liberal-bias:

Obama’s Private Sector Jobs Record


Thanks for half of the truth. Robert Reich is looking at whole picture:

In their haste to cut the public debt, Europeans have overlooked the denominator of the equation. By reducing public budgets they’ve removed a critical source of demand — at a time when consumers and the private sector are still in the gravitational pull of the Great Recession and can’t make up the difference. The obvious result is a massive slowdown that has worsened the ratio of Europe’s debt to its total GDP, and is plunging the continent into recession.
A large debt with faster growth is preferable to a smaller debt sitting atop no growth at all. And it’s infinitely better than a smaller debt on top of a contracting economy.
The second lesson Merkel and others have overlooked is that the social costs of austerity economics can be huge. It’s one thing to cut a government budget when unemployment is low and wages are rising. But if you cut spending during a time of high unemployment and stagnant or declining wages, you’re not only causing unemployment to rise even further. You’re also removing the public services and safety nets people depend on, especially when times are tough.

Reich’s point there is that the folly of Merkel, Cameron and Sarkozy, et. alia. will be a drag on the U.S. recovery. That could be said of any state government in the USA that is slashing costs, too. It doesn’t matter if it is a neo-fascist like Michigan’s Rick Snyder or another neo-liberal like Kalifornia Über Alles Jerry Brown. Public sector employment creates income as good as or better than the private sector. It’s spending of all kinds that will but the recession away. If the USA wanted to put a dent in the recession, we’d be stealing pages from FDR’s playbook. It’s a given that Obama can’t get that done with right wing reactionaries in congress nor with centrists constantly trying to placate them.
It’s one thing for political campaigns to crank out half-truths like that. Honesty and complex thought have left politics long ago. But it’s different to regurgitate a half-truth from a campaign to be consumed by people with critical thinking capacities; the offense is compounded when said half-truth is presented by someone who has the word “truth” in their URL.

truth-has-a-liberal-bias:

Obama’s Private Sector Jobs Record

Thanks for half of the truth. Robert Reich is looking at whole picture:

In their haste to cut the public debt, Europeans have overlooked the denominator of the equation. By reducing public budgets they’ve removed a critical source of demand — at a time when consumers and the private sector are still in the gravitational pull of the Great Recession and can’t make up the difference. The obvious result is a massive slowdown that has worsened the ratio of Europe’s debt to its total GDP, and is plunging the continent into recession.

A large debt with faster growth is preferable to a smaller debt sitting atop no growth at all. And it’s infinitely better than a smaller debt on top of a contracting economy.

The second lesson Merkel and others have overlooked is that the social costs of austerity economics can be huge. It’s one thing to cut a government budget when unemployment is low and wages are rising. But if you cut spending during a time of high unemployment and stagnant or declining wages, you’re not only causing unemployment to rise even further. You’re also removing the public services and safety nets people depend on, especially when times are tough.

Reich’s point there is that the folly of Merkel, Cameron and Sarkozy, et. alia. will be a drag on the U.S. recovery. That could be said of any state government in the USA that is slashing costs, too. It doesn’t matter if it is a neo-fascist like Michigan’s Rick Snyder or another neo-liberal like Kalifornia Über Alles Jerry Brown. Public sector employment creates income as good as or better than the private sector. It’s spending of all kinds that will but the recession away. If the USA wanted to put a dent in the recession, we’d be stealing pages from FDR’s playbook. It’s a given that Obama can’t get that done with right wing reactionaries in congress nor with centrists constantly trying to placate them.

It’s one thing for political campaigns to crank out half-truths like that. Honesty and complex thought have left politics long ago. But it’s different to regurgitate a half-truth from a campaign to be consumed by people with critical thinking capacities; the offense is compounded when said half-truth is presented by someone who has the word “truth” in their URL.

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  1. freethinker20am reblogged this from think-free
  2. think-free reblogged this from fuckyeahliberalatheists
  3. tatrtotz reblogged this from think4yourself
  4. deepseafission reblogged this from truth-has-a-liberal-bias
  5. osuphantom reblogged this from lightand-shadow and added:
    I still disagree. I feel like his policies haven’t helped. They’ve put government at the front of the charge in this...
  6. lightand-shadow reblogged this from osuphantom and added:
    I’m not sure if I agree that Obama is “anti-business”, but I mean, wouldn’t anyone in his position be a little bit in...
  7. leaping-of-a-lion reblogged this from destroythegop
  8. fuckyeahliberalatheists reblogged this from destroythegop
  9. destroythegop reblogged this from obama2016
  10. aynesa reblogged this from obama2016
  11. obama2016 reblogged this from truth-has-a-liberal-bias
  12. diegueno reblogged this from think4yourself and added:
    Reich’s point there is that the folly of Merkel, Cameron and Sarkozy, et. alia. will be a drag on the U.S. recovery....
  13. think4yourself reblogged this from truth-has-a-liberal-bias
  14. fortimesareachangin reblogged this from reagan-was-a-horrible-president
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  21. crockohdialrock reblogged this from truth-has-a-liberal-bias and added:
    But Obama hasn’t done shot for this country though
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