The Reason the economy is in such a mess and the recovery has failed to materialize is because no one knew how bad things were when they passed the stimulus package at the beginning of this year. Or so says US Vice President Biden.
But is that really true?
For almost a year, there has been near panic on the economy. When Bush and Congress gave away nearly a trillion dollars to the banks last fall, we were told that the banks had to be bailed out because the economy would collapse.
Now fast forward to the beginning of this year. There had been numerous voices (mine being one of them) on the need for the creation of economic and social programs on the scale of that found during the Great Depression.
Nobel Prize winning Eonomist Paul Krugman warned last February that the $787 billion stimulus is not nearly enough to fill the "well over $2 trillion hole" in the economy.
So how is it that voices, such as Krugman's, were ignored?
Maybe it is because the Obama Administration's main concern, like that of Bush's Administration before him, is for the welfare of the banking and corporate class at the expense of the American people.
But one of these days somebody is going to figure out that all of our interests are interconnected. That is, when you have a healthy and thriving people then the political and financial elite can also do well without having to steal from their people.
But if the ruling elite that actually run America and much of the world refuse to accept the idea of mutual benefit for all they will soon find their Empire in collapse. Just like the Roman Empire and all of the Empires before our present Military Industrial Establishment.
Our present Empire may go out with a bang or a whimper, but it will go out. That is unless the present power structure in America understands that the bottom and middle classes are as important as the elite class.
VP Joe Biden and the rest of Obama's Administration should start listening to the voices that represent a suffering mass of American people that are not only facing unemployment or underemployment but are also facing the prospect of homelessness.
Most Americans are getting tired of this pretend game of "we were just too stupid to know." These people running the country aren't stupid and they do know, but unfortunately they just don't care about the American people unless we make them care.
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