Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 11 Share on Twitter 1 Printer Friendly Page More Sharing
OpEdNews Op Eds    H3'ed 3/12/13

Ryan's Regressiveness Redux

By       (Page 1 of 1 pages) (View How Many People Read This)   2 comments
Author 47089
Follow Me on Twitter     Message Robert Reich
Become a Fan
  (129 fans)


(Image by Unknown Owner)   Details   DMCA

Republicans lost the election but they still shape what's debated in Washington -- the federal budget deficit and so-called "fiscal responsibility."

The White House's and the Democrat's continuing failure to reshape that debate has lead directly and logically to Paul Ryan's budget plan this week, which is a more regressive version of the same plan American voters resoundingly rejected last November. 

Sadly, the President is playing into the GOP's hands with a new round of negotiations over a "grand bargain."

Despite February's encouraging job numbers, the major challenge is still jobs, wages, growth, and widening inequality -- not deficit reduction and fiscal responsibility. 

We'd need numbers like February's every month for the next four years to get anywhere close to the level of unemployment we had before the Great Recession. But we won't get there because of the austerity policies the nation has embarked on, and the continuing erosion of the middle class. 

Austerity economics -- of which Ryan's upcoming budget is the most extreme version -- is a cruel hoax. Cruel because it hurts most those who are already hurting; a hoax because it doesn't work. 

The entire framework is based on the false analogy that the federal budget is akin to a family's budget. 

Families do have to balance their budgets. But that's precisely why the federal government has to be the spender of last resort when consumer spending falls short of boosting the economy toward full employment.

And as long as income and wealth continue to concentrate at the very top, the broad middle class and those aspiring to join it won't have the purchasing power to boost the economy. 

So why even try for a "grand bargain" that won't deal with these fundamentals but only further legitimize the GOP mythology and further mislead the public about what's really at stake? 

 

Valuable 3   Must Read 2   Well Said 2  
Rate It | View Ratings

Robert Reich Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Robert Reich, former U.S. Secretary of Labor and Professor of Public Policy at the University of California at Berkeley, has a new film, "Inequality for All," to be released September 27. He blogs at www.robertreich.org.

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Trump Cornered

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

Paul Ryan Still Doesn't Get It

What Mitt Romney Really Represents

What to Do About Disloyal Corporations

The Gas Wars

To View Comments or Join the Conversation: