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Showing posts with label Great Depression. Show all posts
Showing posts with label Great Depression. Show all posts

Thursday, October 27, 2011

Fox News to GOP Candidates: 'No More Anti-Bailout Talk'

This video of Rick Perry being interviewed by Fox News' Neil Cavuto has been making the rounds, generally as evidence of how unprepared Perry is for anything in the neighborhood of a tough question. In the clip, Perry's regurgitating the typical GOP mumbo-jumbo about certainty and "investor confidence" being the most important thing for economic and job growth, while completely ignoring the indisputable fact that no one's going to invest in a business that has no customers. Supply and demand is set on its head, as always.

But of course the interesting part is when Perry starts ripping on the bailouts -- previously a fairly typical Republican line. And, until just a few weeks ago, a perfectly acceptable and politically correct one. But after the Occupy movement, it's apparently now verboten.



Yes, Perry's tiny little brain was incapable of processing what had just happened, so he just sat there silent, waiting for the interview to move on. I can't help but fill that silence with the sound of imaginary crickets chirping while rusty gears grind to a halt when I watch it.

But check that video again. Cavuto's crew had that clip loaded and ready to fire. It had previously been a matter of teabagger faith that the bailouts were bad, now it's practically the act of a Communist sympathizer to make that same argument. Cavuto's comment and the clip of Occupy Wall Street was a warning shot across Perry's bow. Perry's not likely to criticize the bailouts on Fox News again -- he obviously has no idea how to deal with the consequence.

Monday, September 19, 2011

Generals in the Class War Decry Class Warfare

It's not class warfare. It's math.
-President Barack Obama


ObamaThat quote was from the president's speech announcing a plan to reduce the deficit. Included in the plan is a choice -- either close tax loopholes that allow the rich and corporations to dodge their fair share of the tax burden or end the high end Bush tax cuts which, as the president rightly pointed out, were intended to be temporary anyway. In fact, when Bush asked congress to make them permanent after the fact, congress refused.

There's no reason that Obama couldn't have demanded both the closure of the loopholes and the end to the bottom heavy tax structure -- none other than Barack Obama being Barack Obama and leading with a concession. But that's another post. This post is about the claims by Republicans that asking the wealthy to pay their fair share is "class warfare."

Los Angeles Times:

Top congressional Republicans on Sunday accused President Obama of trying to incite class warfare with his proposal for a new tax on millionaires and said they would not support the measure because it would hurt economic growth.

"Class warfare … may make for really good politics, but it makes for rotten economics," House Budget Committee Chairman Paul D. Ryan (R-Wis.) said on "Fox News Sunday." "We don't need a system that seeks to prey on people's fear, envy and anxiety. We need a system that creates jobs and innovation and removes these barriers for entrepreneurs to go out and rehire people."