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More evidence that Republicans have intentionally sabotaged the U.S. economy

Michael Cohen ARGUES that Republicans have turned against policies they once supported for fear that they might improve the U.S. economy on President Obama’s watch:

Republicans have opposed a lion’s share of stimulus measures that once they supported, such as a payroll tax break, which they grudgingly embraced earlier this year. Even unemployment insurance, a relatively uncontroversial tool for helping those in an economic downturn, has been consistently held up by Republicans or used as a bargaining chip for more tax cuts. Ten years ago, prominent conservatives were loudly making the case for fiscal stimulus to get the economy going; today, they treat such ideas like they’re the plague.

Traditionally, during economic recessions, Republicans have been supportive of loose monetary policy. Not this time. Rather, Republicans have upbraided Ben Bernanke, head of the Federal Reserve, for even considering policies that focus on growing the economy and creating jobs.

And then, there is the fact that since the original stimulus bill passed in February of 2009, Republicans have made practically no effort to draft comprehensive job creation legislation. Instead, they continue to pursue austerity policies, which reams of historical data suggest harms economic recovery and does little to create jobs. In fact, since taking control of the House of Representatives in 2011, Republicans have proposed hardly a single major jobs bill that didn’t revolve, in some way, around their one-stop solution for all the nation’s economic problems: more tax cuts.

(Snip)

[O]ne of two major political parties in America is engaging in scorched-earth economic policies that are undercutting the economic recovery, possibly on purpose, and is forcing job-killing austerity measures on the states. And they have paid absolutely no political price for doing so. If anything, it won them control of the House in 2010, and has kept win Obama’s approval ratings in the political danger zone. It might even help them get control of the White House.

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5 Comments

  1. wilson

    Well at Least the Private sector is doing well.

  2. expdoc

    Wait, I am confused. I thought the Republicans were the party of rich guys? Why would the rich guys want to destroy the economy and cost themselves profits?

    Could it be that the Republicans idea of job creation legislation is different than the Democrats idea of job creation legislation?

    Certainly here in my humble state of Wisconsin Democrats and Republicans have very different ideas on the matter as well as on most other topics.

  3. wilson and expdoc: Let me know when either one of you comes up with something that actually refutes the points made in this post.

  4. expdoc

    Let me know when you can discuss my post.

    It directly refutes yours.

    The Republicans disagree with the Democrats about how to “fix” the economy. In fact, getting the hell out of the way of job creators might be the best way to “fix” it.

    You are saying the Republicans are intentionally destroying the economy to hurt Obama. I am saying that on the face of it you are wrong or at least confused.

    Either Republicans are rich guys who only care about making more money or they are intentionally destroying the economy and hurting the businesses they own and run.

    You can’t have it both ways.

  5. wilson

    Well they opposed “stimulus” that provides temporary employment for public jobs.
    http://blogs.e-rockford.com/bobtrojan/2012/06/09/private-sector-is-doing-fine-obama/
    The issue being that the public sector is suffering. We don’t need stimulus for the private sector because it is doing just fine.
    The GOP wants to bring some certainty to the table, remove regulations and get the Keystone pipe line approved. (to name a few)
    The Democrats want stimulate the public sector taking money away from the private sector which will reduce economic growth and the private sector.

    Maybe we can reach 100% employment by eliminating the private sector.

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