A Republican blogger called AJStrata writes, Blame America’s Economic Woes On Retiring Boomers
A lot of people are scratching their heads over the current economic downturn, but it really should not be a mystery. I myself have been waiting for it to begin for decades. The inevitable contraction has been exacerbated by really bad, leftist economic policy decisions instantiated over many years.
One year ago, the same blogger was bragging abut what a great job Bush was doing with the economy, singing the praises of another Republicans editorial in the NYT, Did The NY Times Admit Bush Economy Is Historically Great?
Amazingly the truth does come through – even to the BDS driven NY Times. I guess that is a backhanded endorsement of the Bush economy if I ever saw one. 8 years of envious economic news marred by two weeks of unsubstantiated panic. I’ll take that any day. The two weeks is nothing out of 416 weeks – not even 1%. So that means 99+% of the time it was good under Bush. Glad to see the NY Times finally waking up – sort of.
For the uninitiated, BDS stands for Bush Derangement Syndrome. The name the Right gave to anyone over the age of twelve who realized that Bush and his supporters were driving the country off a cliff – the reality based community. They’re making it too easy. Bragging about Bush doing a heckofajob one year and a year later portraying oneself as prescience on an economic collapse brought about the person that you did some documented genuflecting is so silly that he’s not even in the game. He’s outside the park begging for tickets. Since FDR Democrats have been better for the economy. Imagine how bad the economy would be without liberal programs such as federally insured deposits, Social Security and unemployment insurance.
Even with declining troop numbers in Iraq, the direct price tag of the two wars could grow as high as $1.7 trillion by 2018, the Center for Strategic and Budgetary Assessments reported last week. The defense think tank’s figure does not include potentially hundreds of billions more in indirect economic and social costs, such as higher oil prices and lost wages.
[ ]…The report also rapped the Bush administration’s paying for the wars through borrowing, rather than tax increases and spending cuts. That approach, it concluded, will lead to interest costs through 2018 that range from about $70 billion to as high as about $700 billion, depending on how much of the war funding came through bond sales.
The MBA president strikes again. He didn’t care who piad for his policies as long as he was out of office when the bills came due. Where has the the substance been, the values, the leadership that only electing Republicans could provide. The Right-Wing Economics That Got Us into This Mess Should Go the Way of Soviet
William Seidman, the longtime GOP economic advisor who oversaw the S&L bailout in 1991, cuts to the chase: “This administration made decisions that allowed the free market to operate as a barroom brawl instead of a prize fight. To make the market work well, you have to have a lot of rules.”
Even Alan Greenspan, whose owl-eyed visage would adorn a Mount Rushmore of unregulated capitalists, has begun to see the light, telling a House committee in October that he “made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.”
Probably most Americans want some form of free market economy, just not the one at whose alter Republicans worship. Arianna Huffington, near the end of this editorial calls them free market fundamentalists. Apt, since they have this pure vision of what an economy is supposed to look like. Much like the far Right religious fundies, rationalism just doesn’t enter into the equation. Like the poor blogger above many on the Right have done a deep nose dive into the sand. For years we’ll be hearing the loud cries of denial about how they were running the ship and the ship mysteriously ran a ground all by itself or was somehow forced by the evil invisible hand of liberals. This technique isn’t new, Conservatives have been using historical revisionism for years – Rightie talk radio is all about telling America the truth that only Republicans know. As Mr Strata demonstrated today that ultimate truth tends to blow with the wind.