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OpEdNews Op Eds    H3'ed 8/18/10

Have Republican economic policies once again made a Great Depression inevitable?

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Two proffered answers to the topic question, the first one from the political right, the second from the left:

Reagan insider David Stockman says GOP destroyed the US economy'

Yes, this is exactly what David Stockman, President Ronald Reagan's director of the Office of Management and Budget, wrote in a recent New York Times op-ed piece, "Four Deformations of the Apocalypse."

The word is not "destroying" according to Stockman the GOP has already "destroyed" the U.S. economy, setting up an "American Apocalypse" that is imminent. In other words, it could be many years before the nation's unemployment rate reaches pre-recession levels.

Why focus on Stockman's message? If we are to understand what happened, and are to have any chance of reversing it, it's imperative that we ask the following question:

How did the great nation of America lose its moral compass and drift so far off course, to where our national survival is threatened?

We've arrived at a historic turning point as a nation that no longer needs outside enemies to destroy us, for we are committing suicide. Democracy. Capitalism. The American dream. All are dying, Stockman says. Why? Because of the economic decisions of the GOP over the past 40 years, according to this leading Reagan Republican.

"If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation's public debt will soon reach $18 trillion." This screams out for austerity and sacrifice. But instead, the GOP insists "that the nation's wealthiest taxpayers be spared even a three-percentage-point tax rate increase."

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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