The short memory of Americans and the "new" Republican pledge.

We Americans are so out of touch with what really matters that we are easily fooled. Because we are so out of touch, the right spin of the facts is consumed by the masses as the truth. Take for example the new republican pledge or the American perception that Obama has not fixed the economy fast enough.

The republican pledge.

Its just the same old tired republican ideology with a new cover and short memory Americans are eating it like the new invented policies that are going to save us.

Under president Bush our national debt went from 5 trillion dollars to 10 trillion dollars (thank you china for lending us all that money). So essentially we gave the very rich a tax cut with borrowed money that EVERYONE has to pay back, not just the very rich that got the surplus. Now part of the "new" republican pledge is to revive the tax cut to the very wealthy.

In simple terms, the original idea behind the Bush/Republican tax cut for the wealthy was that if they got more money they were going to build or improve business. The problem is that any panel of independent, competent economists will attest that when the very rich get tax cuts the do NOT pump it back into the economy, they save it.

The top 1% of Americans take home 25% of all the income in American, and the new republican pledge proposes to borrow more money from china so they can put it in their already fat bank accounts......yeah, that is something fresh that is going to do wonders for the good old USA.  

Over 100 years ago Henry Ford had it right. Spread the wealth to increase the buying power of the masses and they will be able to buy what you produce. He started paying his workers $5 an hour, unheard of at the time. His workers where able to afford his product and he became one of the riches men in the world.

Obama is not doing enough for the economy.

I am not 100% satisfied with the job this democratic administration has done with creating jobs or stimulating the US economy. Having  said that, Bush and the "fiscally conservative" Republican policies took the USA and the world the edge of an economic abyss. If not for the emergency financial intervention of the Obama administration, right now we would have been in a deep depression .....yes a DEPRESSION .....with unemployment probably hovering around 20%. American forgot that in a flash.....

Graph image courtesy of thinkprogress.org