Wednesday, August 3, 2011

My Country, A.D.D...

When you have Attention Deficit Disorder, your interest and priorities are for whatever the shiniest object is at the moment. It's hard to multitask with any efficiency or consistency.

That's how our country seems to be governed at the moment.

Unemployment Creeping Back Up (Data from BLS)...
It's as if our leadership can focus on only one "crisis" at a time, in sequence, without "putting the pieces" together. So, while the country was held hostage by not-smart freshman "representatives," Europe is in  crisis, last quarter US  economic numbers were depressingly low, and unemployment continues to creep up. Our approach to economic priorities is like some sort of old fashioned keystone cops-style fire brigade. "Okay, that's got it, now that the debt ceiling and deficit reduction fires have been put out...wait! What's that bright ascending trend line over there??! Great scott, it's rising unemployment! Man the buckets, boys, we're going in again!"

...while the DOW is Lurching Downward.
It's as if no one could possibly think about the underlying issue in the first place--the actual US economy--while they were considering the very policies that impact it. The right wants to get Paul Krugman off their backs? Well, that's funny. If they followed the basic principles of macro economics, Mr. Krugman wouldn't actually *be* on their backs. I'm no Nobel prize winning economist, but i know (and apparently Wall Street knows too) that you don't cut spending in a down economy).

Ultimately, the Problem is one of "Beliefs" vs. an Understanding of How the Economy Actually Works

The right is wrong in believing that the government shouldn't play any role in the economy, because that amounts socialism. Of course, government *has* to have a role in the economy, especially in a recession (and yes, we're still in a recession, right?). Also, who's going to run the Federal Reserve? Bank of America? Well, at least it has "America" in its name, and that's good enough for me!

And lastly, would someone, for the love of any deity you choose, please tell me exactly *when* the Bush tax cuts are going to kick in to save the economy and increase jobs? I'd love to know, because while corporations enjoy record profits, the new debt deal would cost up to 1.8 million jobs. That doesn't make a lot of sense to me...

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