Saturday, September 18, 2010
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2 comments:
Lets' turn Ryan's remarks around a bit to more accurately reflect the current reality. "If giving tax cuts to the wealthy (in effect since 2002) was the secret to creating jobs we’d be at full employment right now. It’s not working, we have to stop the madness. We have to get back to basics, we know what creates jobs, we know small businesses are the key to it, yet politicians like Paul Ryan vote against small business incentives."
Do you really believe that the problems we are having now are due to the Bush tax cuts? That is insanity. There are many reasons, but chief among them are BOTH parties putting banks into the position of lowering the standards for mortgages. Even Barney Frank now says that is was a mistake.
It was pretty amazing that our economy stayed as stable as it did after 9/11. Our economy runs in cycles; always has and always will. Our economy's problem have much more to do with the banks taking unneccessary risks more than anything else. The lowering of the standards is part and parcel of them taking those risks.
There is no way to prove a negative. We will never know for sure if things would be worse had we done nothing. But to say that government involvement did not cause these problems is willful blindness. Get out of the way and let businesses take care of themselves, they normally work things out for themselves.
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