Then there's the matter of Profit! As a former famous Governor of Minnesota put it recently; "With the economy collapsing, we can't afford to have a Democrat in the White House. We have to have someone from the party of fiscal responsibility." (Jesse "The Body" Ventura, Commenting on the Larry King Show)
The graphic, culled from the New York Times business section, only goes back to 1948. Thinking back a few more years, we can as well Compare/Contrast the Republicans Calvin Coolidge and Herbert Hoover with their successor FDR. Thus, for the last eighty years, people at every income level saw greater income growth during Democrat administrations than under Republican administrations. Basically, this is within the living memory of almost all Americans. I haven't bothered to try to find a chart detailing the growth of the National Debt. We all know that the preponderance of the debt is thanks to the "fiscally responsible" policies of three icons of Republican Orthodoxy: Ronald Reagan, George Herbert Walker Bush, and son George W. Bush. Why, then, is there this persistent illusion that Republicans are the "Party of Fiscal Responsibility"?
I offer the following as a possible excuse: While people get richer faster under Democrats, their Tax Bills go down faster (if they're rich, that is) under Republicans. Or so it appears. As some have said, the ultimate goal appears to be to "Privatize the Profit - Socialize the Debt". Which has certainly been the case with the deft handling of the rolling crisis of the deflating housing bubble. Or, as here: On Capitol Hill, lawmakers were less focused on the implications of taking over Fannie Mae and Freddie Mac than on casting blame for the rapidly rising deficit.
Disclosure:I lost my last house in the last (tech) bubble, so I no longer have a dog in this particular fight.
The graphic, culled from the New York Times business section, only goes back to 1948. Thinking back a few more years, we can as well Compare/Contrast the Republicans Calvin Coolidge and Herbert Hoover with their successor FDR. Thus, for the last eighty years, people at every income level saw greater income growth during Democrat administrations than under Republican administrations. Basically, this is within the living memory of almost all Americans. I haven't bothered to try to find a chart detailing the growth of the National Debt. We all know that the preponderance of the debt is thanks to the "fiscally responsible" policies of three icons of Republican Orthodoxy: Ronald Reagan, George Herbert Walker Bush, and son George W. Bush. Why, then, is there this persistent illusion that Republicans are the "Party of Fiscal Responsibility"?I offer the following as a possible excuse: While people get richer faster under Democrats, their Tax Bills go down faster (if they're rich, that is) under Republicans. Or so it appears. As some have said, the ultimate goal appears to be to "Privatize the Profit - Socialize the Debt". Which has certainly been the case with the deft handling of the rolling crisis of the deflating housing bubble. Or, as here: On Capitol Hill, lawmakers were less focused on the implications of taking over Fannie Mae and Freddie Mac than on casting blame for the rapidly rising deficit.
Thank God!
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