The New Terrorism – Class Warfare

Political Cartoon by Chuck Asay

Senate Democrats lashed out at Republicans on Friday, accusing them of holding the nation’s economic prosperity hostage for the benefit of the wealthy and likening the GOP to a terrorist organization.

With the White House and Republicans appearing to be close to finalizing a deal for a temporary extension of all the Bush-era tax cuts, Senate Democrats have become increasingly frustrated with their inability to pressure the GOP on the issue, and their anger was on display during a press conference Friday morning.

“Do you allow yourself to be held hostage and get something done for the sake of getting something done, when in fact it might be perverse in its ultimate results? It’s almost like the question of do you negotiate with terrorists,” Menendez said when asked whether he and other Democrats would accept a compromise with Republicans.

“The majority has a responsibility to get something done, but [also] to get something done that is good for the country,” he added.

McCaskill likewise lambasted Republicans, accusing them of putting the wealthy ahead of the middle class and warning that if Republicans win the debate over tax cuts “it really is time to take up pitchforks.” Both Menendez and McCaskill are up for re-election in 2012.

Gee, I felt the same way about them for the last 2 years. Fascinating… 🙂

So now the Democrats are resorting to having temper tantums. “Wah! The Republican won’t give in to our Class War fare!” But we want to bash them in 2012 if they do and bash them until 2012 if they don’t.

Wah!! It’s not fair!!!

Someone wanna give the crybabies a pacifier and a rattle. PLEASE!

UpChuck Schumer blamed the news media for Democrats’ inability thus far to build public support for their position. “Every time Democrats are united on something and we don’t have the votes because we need 60 … you say, ‘What about the Democrats?’ You need to say, ‘What about the Republicans?’” Schumer said angrily.

So now it’s the Ministry of Truth’s fault because they haven’t hammered the Republicans enough!

What?!! You’re kidding right?

The whine has gotten old and very, very sour.

“We are sticking to our position,” he said.

They are going to hold their breath and turn blue until you agree to do it their way! So there! <<sticking tongue out>>

Now that’s the spirit of “bi-partisanship” we all want. 🙂

Oh, did you hear, unemployment went up .2%! The perfect time to tax employers more don’t you think!

The Democrats timing is as impeccable as ever. All bad, of course.

But if you just give them more time they’ll get the car out of the ditch again! 🙂

Last month’s anemic 39,000 payroll gain shocked economists who had expected 150,000. With hiring so weak, the jobless rate rose to 9.8%, marking the 19th straight month above 9% — the longest stretch on record.

The White House tried to put a happy face on the report, noting it showed private-sector gains for the 11th straight month. Only, the 50,000 gain in private jobs was down sharply from the 160,000 created in October and was the smallest gain since January. It was even smaller than November 2009’s 75,000 gain. (The new liberal talking point, by the way).

Michael Ramirez Cartoon

Maybe they could pray to a Mayan Goddess like the head of the UN’s latest Global Warming Conference farce did. Maybe a little divine intervention is required.

Christiana Figueres, executive secretary of the U.N. Framework Convention on Climate Change, invoked the ancient jaguar goddess Ixchel in her opening statement to delegates gathered in Cancun, Mexico, noting that Ixchel was not only goddess of the moon, but also “the goddess of reason, creativity and weaving. May she inspire you — because today, you are gathered in Cancun to weave together the elements of a solid response to climate change, using both reason and creativity as your tools.”

I have been to Cancun. I’m not impressed.

She called for “a balanced outcome” which would marry financial and emissions commitments from industrialized countries aimed at combating climate change with “the understanding of fairness that will guide long-term mitigation efforts.”

Boy is she at the wrong conference!!!

Looking for info on this obscure goddess I did find a HIPPIE CLOTHING LINE though. 🙂 (ixchel.net). The Gods work in mysterious ways! 🙂

But back to basic economics and facts, which eludes Liberal ideology:

Why do we seem so helpless in solving our current mess? A big reason is the shocking lack of basic economic literacy among many of our political leaders. Case in point: Ohio Democratic Sen. Sherrod Brown.

Brown ripped into GOP Rep. Eric Cantor, saying he “either failed English class or failed logic class or failed history class because these tax cuts for the rich that Bush did twice … resulted in very little economic growth. We saw only 1 million jobs created in the Bush years, 22 million created in the Clinton years, when we reached a balanced budget with a fairer tax system.”

This is false. From 2002, the last year before the cuts, to 2007, the last year before the financial meltdown, the real economy expanded by $1.77 trillion, or 15.2%. “Very little” growth? Jobs increased by 7.77 million, business investment surged 38%, and personal net worth soared 56%. Brown is wrong on every point.

Yes, gross domestic product did fall sharply in 2008 as the financial meltdown hit. But no reputable economist maintains the financial panic was a result of the Bush tax cuts.

Laughably, Brown talks about how “we” reached a balanced budget during the Clinton years. What do you mean “we,” senator? Since budgets are written and passed by Congress, and only approved by the president, Brown must know that it was Republicans who balanced the budget — not Democrats.

That’s right, a GOP-led Congress controlled the spending that led to the surpluses of the late 1990s. It also proposed welfare reform and pushed through cap-gains tax cuts that helped the economy boom. To his credit, President Clinton signed these initiatives into law — but only after much political arm-twisting.

Brown’s idea of “fair” when it comes to taxes is strange. Since when is unequal treatment under the law, which our skewed tax code promotes, considered fair? Talk about failing Logic 101.

He went on to say: “There is no real history illustrating that these tax cuts for the rich result in jobs. It’s extending unemployment benefits that creates economic activity that creates jobs, not giving a millionaire an extra … $30,000 in tax cuts they likely won’t spend.”

“Extending unemployment benefits” stimulates nothing. It merely takes money from one person’s hand and puts it into another. How do Brown et al. get it so wrong? Maybe they don’t know any better. They come from a generation schooled on a now-discredited Keynesian model that assumes the economy is driven by consumer spending, and that when consumers falter, it’s the government’s job to step in and “boost aggregate demand” by spending more.

This, too, is exactly backward. Consumer spending doesn’t drive growth; it results from growth. Economies grow mainly because of business investment. The chart above shows how consumer spending barely budged in the last two recessions while business investment plunged. Today we’re still 14% below our peak on business investment, while consumer spending has bounced all the way back.

If we want a strong expansion, business investment must grow. It won’t as long as Brown and his colleagues continue to believe that extending jobless benefits to boost consumption, and raising taxes on the “rich” would create economic activity.

“No real history”? Taxes were cut on high-income earners in the 1920s (Coolidge), 1960s (Kennedy), 1980s (Reagan) and again in the 2000s (Bush). These cuts benefited the rich and everyone else. In all these cases, jobs boomed after tax cuts. In fact, history shows that the best way to boost jobs is to cut taxes on the rich. (IBD)

It’s approaching High Noon. Time for the Gunslingers to meet in the streets for the shootout.

Ideology vs Truth.

What a showdown, more like a WWF/WWE wrestling match, this will be sports fans!

We The People will still get screwed!

Political Cartoon by Jerry Holbert