Can the GOP Fool All the People All the Time?

By CARL WIDELL

               The GOP seems to fool most of the people most of the time.  The Republicans have been claiming for years that the solution to America’s economy is tax cuts, and most people seem to buy it.  When they took power in 2001, George Bush gave us tax cuts aimed at the richest Americans, with very poor results.  His administration gave us “the worst track record on record,” according to the Wall Street Journal.  Bush created three million jobs in his eight years, while Clinton, who raised taxes, created 23 million jobs in his eight years. Obama’s stimulus gave us more private-sector jobs in his first two years than Bush gave us from 2001 to 2007.   

               Tax cuts for the rich mean cuts in spending.  Here the Republicans show their true philosophy: let the average American pay for the rich.  The Heritage Foundation says the Republicans want to cut college loans, cut small business loans, cut public safety, cut Medicare, cut veteran’s healthcare, cut national parks, cut air quality safety, cut water quality safety, cut food safety, and cut highways repairs.  They list dozens of more cuts that will add up to $343 billion.  Few of these cuts hurt wealthy Americans.  All of these cuts hurt the rest of us.  As President Obama said, “Why should the middle class take a hit and the rich sacrifice nothing?”

               $343 billion in emergency spending cuts are a bad idea.  They will hurt our economy, stall the recovery and raise unemployment.  Look at the United Kingdom.  Conservative Prime Minister Cameron pushed through huge spending cuts last year.  As a result, The UK’s economy has fallen from 1.9% in 2010 to .5% in the first quarter of 2011.  The loss in tax revenue only worsens the UK’s deficit.  A similar blow to the American economy could mean millions of job losses and a larger debt.

               As the president’s bipartisan National Commission on Fiscal Responsibility and Reform noted, the U.S. debt problem is a long-term problem, not a short-term emergency, requiring a balance of spending cuts and tax increases.  Look at what Standard & Poor’s said about Texas revenue bonds. They gave Texas an AA+ rating instead of an AAA rating because Gov. Rick Perry’s fiscal plan  “lacked balance.”  S&P noted that by only cutting spending and not raising taxes, Perry raised the risk of Texas bonds and lowered their rating. The point S&P made for Texas holds for the nation as a whole.

               Now the Republicans are trying to hold us hostage by threatening to not raise the debt ceiling.  Holders of U.S. Treasury bonds wonder whether they will be paid. Businesses worldwide wonder if the dollar will be sound.  What is the GOP holding out for?  A policy proven not to work.   Massive spending cuts required to keep taxes breaks for the wealthy. 

           Polls show that the public is holding Republicans responsible for their irresponsible actions.  Maybe all of the people can’t be fooled all of the time.