The Last Of The Millenniums

Just because it always has been, doesn't mean it always will be

A ‘Conservative’ vision for America – Austerity – ‘Bank shares jump on new business support plans’

Who should control America?

Mitt Romney, Republicans and business?

Or President Obama and the American people?

Cutting spending DOES NOT create jobs. By it’s very defination, it CUTS money available to hire, build, grow.

But that is exactly what Republicans (as President Obama said) want to do.
See : ‘Ryan Budget Cuts Spending by $6.2 Trillion’
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We are in a recession, trying to come out of it and Republicans want to CUT SPENDING. Selling us on the concept, proven wrong, that this will spur a surge in economic growth.

There can only be economic growth if MONEY IS SPENT. Private business WON’T.
See : ‘Companies Have Been Holding More Cash For Decades’
‘”If you think of the long-term trend, part of it that had to do with an increase in uncertainty at the firm level,” he said. “Obviously, the crisis led firms to feel very uncertain.”
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And with a CEO and President Romney, a Republican House and Senate, taxes will be cut, regulations will be cut. America will be for profit.

Taxes will be ‘burdensome’ to business, stiffling growth, so when we fight wars, the middle class will pay all of the bill. Need to repair roads? The middle class will pay for it. Police departments? Fire dfepartments? Public education? Health care?
Business can not be taxed as that would hinder growth.

And ‘burdensome regulation’?
Again these will only restrain growth as they cost business.
Labor laws. Minimum wage. 40 hour work week. Paid vacations. Paid holidays. Health care.

So if business WON’T, Government must. Either that or a ‘double dip recession :
See : ‘Rx for a double-dip recession: Cut government spending by 15 percent’
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We can learn by what is happening in Englans and the EU.

And cutting spending is making the recession worse.

‘The Bank of England’s announcement of the plans on Thursday comes in response to the worsening economic outlook, governor Sir Mervyn King has said’.

‘Together with the government, it will provide billions of pounds of cheap credit to banks to lend to companies’.
‘Banks will also have access to short-term money to deal with “exceptional market stresses”. The chancellor said the measures would “inject confidence”.

‘But Labour’s Shadow Chancellor Ed Balls said the measure would not be enough to help without the Government also changing course on its austerity plans’.

‘In his annual Mansion House speech, Chancellor George Osborne said the stimulus packages would “support the flow of credit to where it is needed in the real economy”.

‘The crisis had also created a “large black cloud of uncertainty” over the global economy, meaning companies and households were cutting back on spending’.

‘Signs of a slowdown in China, India and other “previously buoyant emerging economies” added to the “ugly picture” and meant further action was needed, the governor said’.
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