I suspected that the economy was unraveling before the election was over, but had no idea how bad it really was until Bush, himself, the Decider in Chief, asked for Billions to bail out his buddies on Wall Street, the very guys who got the big beefy tax breaks, and the obscene bonuses for ruining the economy, just as Bush himself was heading out the door, pockets bulging. That worked well, didn't it? The Republicans seemed to have no problem bailing out Wall Street, and then blaming Obama for TARP, but when it came time to hand out a few paltry dollars as a stimulus to the economy to bail out those of us, lowly middle class taxpayers who'd lost our homes, our pensions, our life savings in the Wall Street melt down, well that was a different story.
The Republicans are still at it. They don't give a flying fuck about the middle class. They keep voting against extending unemployment benefits for those hardest hit by this deep recession, the lowly middle class. They are telling the ignorant teagaggers that unemployment benefits are a form of welfare for the lazy. Once again, they are wrong. A wage earner who has worked his or her whole life and is now unemployed due to the contraction in the job market caused by the recession, has been contributing through payroll deductions to an account that is just for this kind of event, is now being insulted on a daily basis by the GOP. Unemployment Insurance is just that. It's insurance in the event that one will be unemployed due to no fault of one's own. If you don't know this you've never punched a timeclock.
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13 comments:
Amen! Excellent post!
Bastards! Who do they think pays their wages???
I just got a 401k statement. Lost $1000 bucks in an account so skimpy I could not last a year on it.
I put up a post about the BS w Goldman sachs.
a $550,000 million dollar fine?
the pay $16 BILLION in bonus money alone.
Bonus money!
$550 million does not mean shit to them. It's a joke. Country club pocket change.
Spending billions on an illegal war and bailing out Wall Street doesn't create debt, only stimulus spending creates debt!
If you want proof that truth and facts don't matter just look at the number of people that vote republicans. Republicans have nothing new. They continue to espouse the same policies that got us into this trouble in the first place.
Not only that,Repubs want to lay off govt (state/fed/local) workers to decrease the deficit.
HUH?
Layoff govt workers=more people on unemployment insurance + no tax revenue from those laid off people. The savings on federal wages will not be refunded to anyone, it just goes back in the pot. End result is the deficit gets bigger.
The only way to lessen the deficit is grow our way out of it. The private sector isn't spending, so it must be fiscal policy that makes up demand until at some point people wish to consume again.
Hell if someone who oughtta be deported to Baja California like me can see that, why can't our politicians ?
Wait a minute, Oso. The republicans say government does not create jobs, so laying off government workers cannot increase unemployment. I don't know what they (the government workers) were doing, but it was not jobs.
LOL Jerry you're correct, it's right there in Teabagger 101!
I'd forgot man!
The vote on H.R. 1424 (TARP) was 74 (40 Democrats, 33 Republicans, 1 Independent) to 25 (9 Democrats, 15 Republicans, 1 Independent). And much of the original 350 billion has been returned (some of it with interest) to the government. To say that this legislation was a partisan enterprise is ludicrous......Just for the record, Goldman Sachs political contributions over the past 20 years have been totally nonpartisan, too (64% to 36%, in favor of the DEMOCRATS). I really think we have to face it here, folks - both parties stink.
Certainly both parties have been "bought" by big business. Is there anyway out other than public financing of elections and getting the corporate money out of the mix?
Jerry, I've been an advocate of public financing for years. You're absolutely right. It truly is the only way that we can clean it up.
I've been saying all along that if it came down to it, BP would be bailed out by the European Union.
With each new instance of government being owned by corporations though, I now think the good USA will be a major contributor to BP's bailout.
Grassroots politics is dead. Long live corporate politics.
Will is 100% correct.TARP and pro Wall St anti Main St policy is a bi-partisan affair. Dems just as corrupt as Repubs. It's easy to blame the party of "No" but the fact is Dems had and still have a majority plus the executive. Were the Dems willing to offend financial and insurance interests we likely would have gotten effective healthcare and financial reform rather than the window dressing we ended up with.
100% right. I can't stand these people and their total hypocrisy.
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