Ronald Reagan

[randolph]

"How my G.O.P. destroyed the U.S. economy." Yes, that is exactly what David Stockman, President Ronald Reagan's director of the Office of Management and Budget, wrote in a recent New York Times op-ed piece, "Four Deformations of the Apocalypse." Get it? Not "destroying." The GOP has already "destroyed" the U.S. economy, setting up an "American Apocalypse."
Jobs recovery could take years

In the wake of Friday's disappointing jobs report, Neal Lipschutz and Phil Izzo discuss new predictions that it could be many years before the nation's unemployment rate reaches pre-recession levels.

Yes, Stockman is equally damning of the Democrats' Keynesian policies. But what this indictment by a party insider -- someone so close to the development of the Reaganomics ideology -- says about America, helps all of us better understand how America's toxic partisan-politics "holy war" is destroying not just the economy and capitalism, but the America dream. And unless this war stops soon, both parties will succeed in their collective death wish.
But why focus on Stockman's message? It's already lost in the 24/7 news cycle. Why? We need some introspection. Ask yourself: How did the great nation of America lose its moral compass and drift so far off course, to where our very survival is threatened?
We've arrived at a historic turning point as a nation that no longer needs outside enemies to destroy us, we are committing suicide. Democracy. Capitalism. The American dream. All dying. Why? Because of the economic decisions of the GOP the past 40 years, says this leading Reagan Republican.
Please listen with an open mind, no matter your party affiliation: This makes for a powerful history lesson, because it exposes how both parties are responsible for destroying the U.S. economy. Listen closely:
Reagan Republican: the GOP should file for bankruptcy

Stockman rushes into the ring swinging like a boxer: "If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation's public debt ... will soon reach $18 trillion." It screams "out for austerity and sacrifice." But instead, the GOP insists "that the nation's wealthiest taxpayers be spared even a three-percentage-point rate increase."
In the past 40 years Republican ideology has gone from solid principles to hype and slogans. Stockman says: "Republicans used to believe that prosperity depended upon the regular balancing of accounts -- in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses too."
No more. Today there's a "new catechism" that's "little more than money printing and deficit finance, vulgar Keynesianism robed in the ideological vestments of the prosperous classes" making a mockery of GOP ideals. Worse, it has resulted in "serial financial bubbles and Wall Street depredations that have crippled our economy." Yes, GOP ideals backfired, crippling our economy.
Stockman's indictment warns that the Republican party's "new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one:"

[Enoch Root]

Yes, austerity and sacrifice indeed. That is to say: austerity and sacrifice for the working people of America. The toilers be damned! But those nice rich people, we can't very well take them to task can we? After all, it is not the case that they are rich because they take from their workers, those who actually do something for a living other than cashing a fat check at the end of the month. No, not at all.

Capitalism dying? Not a big deal. The American Dream never really existed if by American Dream you mean real freedom. Democracy dying on the other hand--yes, very big deal. Not that America is truly a democracy.

[TracyCoxx]

Originally Posted by Enoch Root

After all, it is not the case that they are rich because they take from their workers

Take what? The rich have given the workers jobs. What did the workers have that the rich took?

[randolph]

Originally Posted by TracyCoxx

Take what? The rich have given the workers jobs. What did the workers have that the rich took?

Labor, the basis of all wealth.
Someone somewhere has to do something to create wealth.

[TracyCoxx]

Originally Posted by randolph

Labor, the basis of all wealth.
Someone somewhere has to do something to create wealth.

Yes, labor is a part of it, but I thought it usually started with an idea. You can't just blindly work without a direction. You get an idea, then you work on it. Eventually, if your idea is profitable then your work will pay off, and you can afford to hire workers to help with increasing demands. If you do it right, you can continue to profit, and use those profits to continue to grow the company. If the company is successful enough, then yes, you can afford to keep some of those profits yourself. And why not? It was your idea that started the whole thing. It was your sweat that turned it into reality back when you worked much longer hours than your workers do now and for free because it all went into the company.