Saturday, July 23, 2011

Letter to Obama

Nothing will be worse for the economy now than cutting spending. You should not be negotiating with the insane and amnesiac Republican Party. Paul Krugman is correct only he doesn't go far enough. Cutting taxes will only make matters worse. It would actually help to raise taxes on the wealthy to encourage spending, such taxes are now too low and that is part of our problem. Failing to make the government the employer of last resort will ultimately lead to the deflationary collapse of capitalism, leaving government as the only employer left standing. Keynesian economics was about saving capitalism. Now it appears that the Republican Party is committed to the destruction of capitalism, if not the entire country. We need green jobs.

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