Some guy said something:

Steel mills that needed 100 or 1,000 employees are now able to do the same work with 100 employees, so layoffs too often became permanent, not just a temporary part of the business cycle. And these changes didn’t just affect blue-collar workers. If you were a bank teller or a phone operator or a travel agent, you saw many in your profession replaced by ATMs and the internet…

there is a certain crowd in Washington who, for the last few decades, have said, let’s respond to this economic challenge with the same old tune. “The market will take care of everything,” they tell us. If we just cut more regulations and cut more taxes – especially for the wealthy – our economy will grow stronger. Sure, they say, there will be winners and losers. But if the winners do really well…

it’s a simple theory. And we have to admit, it’s one that speaks to our rugged individualism and our healthy skepticism of too much government. That’s in America’s DNA. And that theory fits well on a bumper sticker. But here’s the problem: It doesn’t work. It has never worked.

It didn’t work when it was tried in the decade before the Great Depression. It’s not what led to the incredible postwar booms of the 50s and 60s. And it didn’t work when we tried it during the last decade. I mean, understand, it’s not as if we haven’t tried this theory. Remember in those years, in 2001 and 2003, Congress passed two of the most expensive tax cuts for the wealthy in history. And what did it get us? The slowest job growth in half a century. Massive deficits

Poor guy has no clue about the economic miracle of the last 150 years. Poor country has to put up with this drivel. How insulting all that nonsense about bank tellers, ATM’s, silent robotic factories, travel agents and so forth. Not surprising, since he knows so little about important events in relatively recent US history, events like D-Day and the Berlin Airlift. Help!!!

This entry was posted on Saturday, December 10th, 2011 at 4:03 am and is filed under business, Democrats, General, Left of Left, MSM, Republicans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.