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Letter: It’s just as bad here

I was listening recently to Rep. Paul Ryan on NPR, saying he does not want America to be in the same situation as Europe.

Hello! We are in the same situation, all of it caused by unregulated banks and banksters who have used our money to pay themselves high salaries and make risky loans that were paying big interest rates on houses of cards. Their cronies in Congress and the Department of Justice will not prosecute them, but they should be jailed and made to pay restitution. A good read on all of this by Matt Taibbi, an investigative reporter who understands this mess.

And by the way, have you heard of Congress tying retirement benefits to the “chained CPI” ?



Legacy Comments8

a lesson in democrat liberalism......Hiroshima and Detroit.......Detroit after the war was a bustling urban landscape and Hiroshima was a wasteland. ......to see what democrats have done to you....... Detroit is a waste land and Hiroshima is a gleaming city

Bill...you may not see that Ryan's statement belies how little he understands the problem. Nor do you. HOW our economy got into the horrible shape it is in is less important NOW than getting it back into well managed growth. Ryan seems to ALMOST understand that cutting government expenses really doesn't do nearly as good at growing the economy as pumping money into it. We really can't expect the GOP to admit how wrong it has been to cut taxes and expenses-this has shown, repeatedly, NOT to help grow the economy. We have to accept that the GOP may try to ignore its past positions; the positions which got the economy into the trouble it is now in !! Ryan may be sending up a trial balloon. Lets hope.

The best way to "pump money" into the economy is to allow businesses to create jobs and they are not going to do that when you have an administration in Washington which is punitive and only thinking about taxes.

The evidence from our own economic history to support your claim is shaky at best, to almost nonexistent. You have to ignore the decades from the 1930's to 1970, when government partnered with, and helped create, via government spending and progressive taxes, 4 decades of prosperity out of the depths of the Great Depression and the failure of laissez-fair Capitalism. Since then, the application of libertarian principles to the economy has shrunk the middle class, caused wages to stagnate while productivity has soared, permitted outsourcing and capital flight, created a permanent underclass, abetted illegal immigration to help keep wages low and assist in union-busting, and promoted 3 economic bubbles followed by crashes, each more severe than the preceding one. The most recent one nearly destroyed the entire world's economy. What will the next one do?

Does the fact that Europe and Japan lay in ruins have anything to do with our growth from the 30's to the 70's? Apparently not even worth a mention.

what created a permanent underclass is the disastrous government education institutions from head start to the universities that has been dominated by the liberal democrat unions and produced the low information democrat voter

Reply to GWTW below: The years between 1933 and 1939 were years in which the U.S. economy experienced the fastest peace-time economic growth in our history. Tell me again that government spending doesn't create jobs. Also, read about the Rogoff-Reinhardt "study" on the benefits of austerity--frequently cited by Republicans and Libertarians--that is rife with basic math errors, and disproves what the authors intended to show--the wonders of austerity for promoting growth. More snake oil from the snake oil salesmen of the right.

Reply to Bruce below. We have spent over $6 trillion more than we took in in tax receipts since 2009. Where are the jobs?

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