The Sept. 14 editorial “Government can’t create jobs by spending” is a continuation of “government is bad” ideology.
The article blames Keynesian economics for the situation we are in. That is contradictory to what mainstream economists, financial experts and investigative journalists have concurred.
The evidence overwhelmingly points to no controls over new financial products, weakening or killing some existing controls and non-enforcement of remaining ones.
This atmosphere was and is tied into the “market knows best — controls are bad” philosophy.
Despite all the evidence to the contrary this is still being accepted as gospel.
The editorial opposes extending unemployment benefits, working on infrastructure or modernizing schools because at this time little value would be produced. This line of reasoning has never been endorsed by a serious economist.
We are not going to be competitive in the world without first-class education and infrastructure.
Obama’s plans are referred to as “redistribution schemes.”
A question comes to mind: What do you think has been going on for the last 30 years? (Clue: Lower- and middle-class are the losers.)
The final paragraph in the editorial wants across-the-board longterm tax cuts, eased regulations and limited government.
Talk about a shell game! The Organization of Economic Developed Countries lists the U.S. as one of the lowest tax countries. Tax cuts have proven to be the least effective stimulus.
Eased regulations and limited government? That is exactly what got us to where we are.