Here’s a comment this morning by “Reality Based” on Paul Krugman’s article. It about sums up what our problem has been in this country for many years.
Reality Based: Flyover Country
We now have thirty five years of financial/economic history that should have destroyed forever the Great Lie that Voodoo economics creates anything but deficit bubbles, which are then used to attack and destroy social programs for the poor and middle class. Reagan tripled federal deficits in order to cut taxes in half for the wealthy, while weaponry expenditures exploded. Bush One left office with historic deficits and a sinking economy, which Bill Clinton remedied by returning to progressive taxation on high incomes. Every Republican in Congress said it would destroy the economy, and instead we had 20 million new jobs and zero deficits by 2000. Republicans responded with smears and impeachment. Bush2 insisted upon a return to Voodoo Economics combined with huge upper end tax cuts and two wars, which along with a financial de-regulation frenzy re-created the same enormous deficits, which were then used to try and destroy Social Security. This idiocy nearly brought down the world financial system. Obama’s sane economic advisers restored job growth and eliminated most of the deficits, but sixteen Republicans are all ready to return to the same policies that have been failing for a third of a century.
The Republican Party exists to enrich the wealthy, and empower a tiny elite. It has been concentrating income and wealth, by redistributing it upwards for thirty five years. This, of course, is only possible with a politics based totally on deceit, which is the whole point.