Saturday, July 21, 2012

Failed Economic Policies?


The Republicans are constantly referring to “Obama’s failed economic policies” in their various appearances on news programs.  Admittedly, they sometimes replaced the word “failed” with “disastrous” or some other negative adjective, but they never mention just what policies they consider to have failed.  Of course they mention the unemployed rate, but neglect to point out the 28 continuous months of positive job growth nor do they mention the 4.5 million jobs created since Obama took office.  They also fail to note the loss of 600,000 public sector jobs lost in states and localities governed by Republicans.  Somehow, their “failed” policy fails to note that the stimulus program saved an estimated one million jobs.  Neither do they mention that the “failed” bailout of GM and Chrysler also saved millions of jobs and that the unemployment rate in states affected by the auto bailout is below 6%.  Some of the other “failed” policies that never get mentioned are the 179 filibusters on the part of the Republicans in the Senate that prevented the enacting of the American Jobs programs, the Dream Act, and the other legislative initiatives that would have added to the present 4.5 million jobs created by these “failed” policies. It is interesting that they do not include in the list of “failed” policies that cost of the Bush tax cuts nor do they speak in favor of extending these cuts for all but the top 2 tax brackets.  They also neglect to include in the list of “failed” policies the fact that government spending under Obama is the lowest of any of the last 6 Presidents.  So...just what policies do Republicans consider to have failed?  What do they propose as alternatives?  We know that tax cuts and less regulation only create recessions and deficits.  That is an experience we have already lived through.  Do Republicans have any other alternatives?

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