Republicans' Lies @ Jobs @Mr_Electrico

Its about bloody time the left begins standing up to this BS that has been propagated by Laffer and the Reagan Admin.

Supply side economics did not trickle down, it defied gravity and floated up.

Clipped from www.huffingtonpost.com

The Republicans' Big Lies About Jobs (And Why Obama Must Repudiate Them)

"And if all others accepted the lie which the party imposed -- if all records told the same tale -- then the lie passed into history and became the truth." ~ George Orwell, 1984 (published in 1949)

House Majority Leader Eric Cantor was in town yesterday (specifically, at Stanford's Hoover Institute where he could surround himself with sympathetic Republicans) to tell this whopper: "Cutting the federal deficit will create jobs."

It's not true. Cutting the deficit will creates fewer jobs. Less government spending reduces overall demand. This is particularly worrisome when, as now, consumers and businesses are still holding back. Fewer government workers have paychecks to buy stuff from other Americans, some of whom in turn will lose their jobs without enough customers. Read more at www.huffingtonpost.com

 

GOP Believes Corps Shouldnt Pay Tax EVER

The immediate flashpoint is a proposed settlement between state attorneys general and the mortgage servicing industry. That settlement is a “shakedown,” says Senator Richard Shelby of Alabama. The money banks would be required to allot to mortgage modification would be “extorted,” declares The Wall Street Journal. And the bankers themselves warn that any action against them would place economic recovery at risk.

Clipped from www.nytimes.com

Another Inside Job

Count me among those who were glad to see the documentary “Inside Job” win an Oscar. The film reminded us that the financial crisis of 2008, whose aftereffects are still blighting the lives of millions of Americans, didn’t just happen — it was made possible by bad behavior on the part of bankers, regulators and, yes, economists.

What the film didn’t point out, however, is that the crisis has spawned a whole new set of abuses, many of them illegal as well as immoral. And leading political figures are, at long last, showing some outrage. Unfortunately, this outrage is directed, not at banking abuses, but at those trying to hold banks accountable for these abuses. Read more at www.nytimes.com