by:
Michael Corcoran, Truthout | News Analysis
Obama's dead-on-arrival jobs bill, which followed trillions in
spending cuts that were made during the debt ceiling controversy, remind
us that politicians have stopped seriously trying to save the economy
through job creation and government spending. The protests on Wall
Street show that the public recognizes that change will only come when
the people take matters into their own hands.
It is quite remarkable, given the nature of the recent debate over economic policy in Washington, that a Wikipedia article exists today called, "2008-2009 Keynesian resurgence." Today, both political parties have had an obsession with "austerity measures" for at least last year or so - which includes putting Medicare and Social Security
on the chopping block. Barack Obama's weak job bill, which was dead on
arrival, only further demonstrates how twisted priorities are in
Washington. So, it is actually hard to believe that, in the aftermath of
the near-collapse of the economy in 2008, Maynard Keynes, who advocated government intervention in the economy to increase demand during downturns, was making a comeback.
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