Tag: Supply Side Economics

Crossposted at Daily Kos and The Stars Hollow Gazette

I posted this on dailyKos last week, under my other handle I use there.  It passed by there as most diaries do.  This morning I woke up and started my weekly dose of opposition research and MSM lunacy.  I got 5 minutes of Fox News with Senator Dorgan arguing for taking 25-30 of the already allocated 700 billion to help the car companies (responsible for 3 to 5 million jobs).  Senator Kyl and Chris Matthews countered with the same supply-side crap and “blame the poor people” grandstanding that has gotten us in to this mess.  Then they asserted that the Democrats should “compromise” with the Republicans and not bail out the car companies (just the banks).  I got so angry, I turned the channel to ABC, where Ahnold was saying that Fannie May and Freddie Mac forced so many banks into loaning to people who had no business getting a home mortgage.  As a VP in a community bank, let me tell you that this is a baldfaced lie, but it is one of the somber “explanations” that the wingnuts peddle to again place the blame on “the poor”. (It is also designed to appeal to racists, BTW) I only got through about 6o seconds of Arnold’s  crap before I turned off the TV and decided to repost my rant here.

We’ve sold all the drywall and insulation out of the house that is the American economy, along with the siding, furniture (not the tv, of course), plumbing, and the “unnecessary” parts of the roof.  We’re down to the studs, people, and winter is coming.  What is left of the American middle class is about to be pushed forever into poverty, the the long term GOP-corporatist plan of feudalizing America is about to become complete, and the Sunday morning shills are suggesting we “compromise” with these thieves.  Its time to fight back.  We must obliterate supply side economics and expose it for the insidious farce that it is, with overwhelming force and all due haste.  Now, the repost:

This rant started in a bar in a 2700-person town, arguing politics with a mostly Republican group on the night after the election.  While (thankfully) they accepted the results of the election, and generally wished success for Obama, they also wished he would continue “supply side” and “free market” policies.  Our town, like most others, has been economically decimated the past 30 years.  It started a rap that is roughly transcribed here:

There are relatively few people who have benefited greatly from supply side economics, but if you live in a small town, the numbers are ridiculously skewed against you.  Supply side doesn’t have anything for your small town, except for job losses, poor quality products, the end of locally based businesses, and the erosion of community political and economic power.  These ill effects also spur on other problems such as bad customer service, lack of pride in workmanship, and lethargy in general.