We have been on a spending spree since the thirties, building roads, bridges, dams, schools, interstate highways, computer networks, and rockets to the moon. The conservatives are absolutely right about one thing. Countries that used Keynesian stimulus policies, like ours, saw dramatically better results.Ĭompare that to the United States since the Great Depression. Countries practicing austerity saw their economies collapse. They slashed public spending, to stop that economic anchor, or so they called it, from dragging down the economy. European countries like Greece and Spain, among others, practiced neo-liberal austerity. It turns out that this theory was tested in the wake of the economic crisis of 2008. Stop taxing the wealthy, and let them invest in the private economy. Neoliberal theory says that government spending is a drag on the economy. I think progressive economics simple work better.īut wait, maybe there is a more recent test. I frankly do not believe that a clear pattern that has lasted for seven decades is mere happenstance. Maybe conservatives really do know more about economics.
Perhaps it is simply a coincidence like the fact that the stock market rises when original NFL teams win the Super Bowl. Why do Democratic economies work better? I cannot say that I know for sure. Those fast food joints were begging for workers, paying above minimum wage because there was a labor shortage, and wages were rising for everyone. But I remember 19 when fast food joints were serving burgers on placemats that were job applications. Bill Clinton's economy offset those losses by creating 22 million jobs. According to the progressive Economic Policy Institute, NAFTA cost 650,000 jobs between 19. Which brings us around to the last Clinton to occupy the White House.
Democrats are better at economics and that's a fact. Whatever your reasons for voting Republican, please do not tell me your reasons are economics. Democratic administrations outperform Republican administrations. GDP growth rates, the Dow Jones Industrial Average, even the size of the federal deficit. Democrats create jobs and prosperity, historically as far back as we have statistics. the unemployment rate in January of the year the White House changes parties. Look at the closing unemployment numbers. There are several tests, but my favorite is to simply look at what unemployment does depending on who is in the White House. The data shows overwhelmingly that a strong public sector produces prosperity. Since the end of World War II, you have been living in a vast economic experiment testing whether a progressively taxed, strong public sector produces prosperity or stagnation.
How do I know it's wrong? Look at the numbers. If you would start repeating this data, and we could get a few million people to join us, we might one day defeat neo-liberal ideology which is both wrong but widely believed especially in the media. data I have repeated over and over again, ad nauseum. The place to begin is with the basic economic data. Some of you, particularly the hard line leftists, may be surprised that I am voting for Hillary Clinton. My other friends, some of whom are Republicans, the other of whom are hard line leftists, may be voting for Trump, or Johnson, or Jill Stein. They are not the primary audience for this endorsement. In fact, I have a large number of friends, family, and supporters, many, but not all of whom, are also voting for Hillary Clinton. Few will be surprised to learn that I am voting for Hillary Clinton.
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