Wednesday, September 5, 2012

Depression Or Growth, You Pick.

It's hard to imagine just how close America came to a second Great Depression in 2008. Our economy was losing 750,000 jobs a month by the time the elections rolled around. We came about as close to Great Depression II as I'd care to see. Depression 1 started in 1929 and didn't end until the mid 40s. But this time we went from minus 750,000 jobs to plus 150,000 average per month, in three and a half years. And let's not forget it took WWII to get us out of the Great Depression. This time we're getting out of two wars and still growing. I'd call that a success story. All that is not to say the job is done. Look at all the people still out of work. But if we can keep up that pace, it would mean an increase of 900,000 new jobs per month for the next three and a half years. Almost three million new jobs? And with no wars to fight, maybe we could concentrate on creating even more. And remember, we did that without raising taxes on the middle class or lowering them on the rich. Oh, I know, if you're still unemployed or underemployed, then to you, we're still in a depression. But the question is; are we better off now then we were three and a half years ago? Well, there has been the economic turn around. Osama BinLaden is dead. The stock market is back. We're on our way to  having healthcare for every American. That ain't half bad. But there's still a long way to go. So the question comes down to whether you want to continue on this course or do you want to try a policy that has failed in the past and failed again. Can reverse robin hood economics work? Should we give to the rich and take from the poor? Here's a hint; the poor don't have anything to give. That's why they're called poor. That leaves the middle class. But the middle class is the economic driver. Without middle class spending, no growth. No growth, no jobs. The only folks with any money are the rich. No class warfare, just facts.

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