Arbuthnot: Same old song and dance
September 12, 2012
Re. “We tried our plan, and it worked,” by Joe Dion, letters, Sept. 8
Enough with the blame game, the standard Democratic prescription for getting out of a recession is increase taxes and spending while also increasing the money supply to stimulate the economy. The Republican prescription is provide tax breaks to the wealthy in the hope that they will spend more and hire more to get the economy moving. The problem with this, is that the wealthy didn’t get that way by squandering their money and spending frivolously. What makes you think they will do anything else but what they have always done? This is how the rich get richer.
Secondly, you continue to try to blame the president for the increase in the debt, when the percentage of the deficit he was in office for and more importantly, responsible for (stimulus) is only a tiny portion of the rise, look further back for the culprit, namely two unnecessary wars and the Bush-era tax cuts. For the first time since Clinton balanced the budget, (the only time in the last 50 years we saw a decrease in the national debt) and had us on track to paying off our national debt we are seeing a slowdown in our national debt. And while you blame Obama for the $5.8 trillion we added since he took office, ask yourself how we went from a positive cashflow to a negative one in the first place? As far as jobs are concerned, you can’t undo eight years of damage in 3.5 years, furthermore, Bush lost an estimated 3.5 million jobs in his last six months in office, and although we have had over two straight years of job growth that is a very difficult number to reconcile. And while you blame the Democrats, maybe ask the GOP controlled house why they stonewalled every bill possible and helped to stagnate the economy.