Deficit Hysteria Wins: GOP Congress, Obama White House Succeed in Stopping Jobs Growth

[Better Believe It]

Deficit Hysteria Wins: GOP Congress, Obama White House Succeed in Stopping Jobs Growth
By: Scarecrow
September 2, 2011

The US economy managed to create virtually zero jobs during August, leaving the unemployment rate at 9.1 percent. And revised estimates lowered the number of jobs created in July. With the GOP Congress and the Obama White House still paralyzed by mindless deficit hysteria and unwilling to fund any credible effort to create jobs, the economy is stalled.

This is exactly what reputable economists have been warning about. With the housing market still declining, consumers still struggling to recover from losing $8 trillion in wealth from the housing bubble crash, and exports hampered in struggling economies oversees, only government can fill the void. But our leaderless government is paralyzed by a preoccupation with deficits, when only deficits are keeping the economy from going under. It is the same in Europe, where incompetent central bankers continue to demand national economies shrink deficit spending in pursuit of fantasy confidence fairies.

Beyond the fraud-riddled banking system and the incompetent Federal Reserve and banking regulators who failed to do their jobs, we know exactly whom to blame for the stalled economy. Deficit hysterics, strangle the government zealots and those dedicated to making Obama a one term President have done everything they could to prevent the federal government from using its spending and monetary powers to boost the economy and create jobs. They’ve been aided and abetted by an incompetent political team at the White House, led by the President’s own debt-focused rhetoric with his Party’s leadership foolishly following. None of them deserves reelection.

With the government’s real borrowing rates effectively at zero, there hasn’t been a better time for the country to invest in its own people, its infrastructure, its future. We are not an impoverished nation; we have enormous wealth, but it’s concentrated and sitting idle.because people of little vision and those with ill will are strangling the economy.

Read the full article at:

http://my.firedoglake.com/scarecrow/2011/09/02/deficit-hysteria-win-gop-congress-and-obama-white-house-succeed-in-stopping-jobs-growth/

[SidDithers]

1. ...

Sid

[Name removed]

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[Skittles]

2. nice headline, but it will all be blamed on Obama

it's what happens when you play footsies with GOP bastards

[pansypoo53219]

3. that was their plan.

now their 'great white hope, has a chance.

[spanone]

4. they are succeeding in destroying what little of the economy is left

our state is saying it could lay off up to 5,000 state employees.

how is deficit cutting helping the economy/jobs?

great big scam

[lib2DaBone]

6. "We must cut all spending except Military and Defense"... Republican Super Committee

September 1932- Republican Congress forces ill-timed austery cuts.. forces country into deep depression.