Monday, July 28, 2014

Welfare is Patriotic; Wall Street is a political institution.

 What is the purpose of America ?


Spending gov'ment money on welfare is one of the Purposes of America as spelled out in
our Constitution's Preamble and Powers of Congress.

  We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.


  It's anti-American to oppose Welfare spending.
Unpatriotic , as in opposed to the Founding Fathers' vision of what
the Gov'mnt is supposed to do.

So, the Welfare spending Obama has done
is Patriotic.



                                                                          



 Not only that , as has been well known since the teachings of the famous economist, John Maynard Keynes, welfare spending helps "the" economy, that is the economy as a whole,because it increases
mass effective demand. The deficit and debt are red herring issues. A
national budget is _not_ like a household budget. This is
fundamentally economically incorrect. The ratio of fed gov'mnt debt to
GDP in the early fifties was very high, in historical terms and it led
to what is now considered a Golden Age economically the 1950's to the
late 60's. The tax rate on the 1% of that era was very high; the
highest rate was 90%. High taxes on the rich and high gov'mnt spending
are recommended by American history.

Further more , this is a private enterprise system. The main decisions
that determine booms and busts in the business cycle, recoveries and recessions,
 are the decisions
of the private corporations ,not the gov'mnt, not the President and
Congress.

It is not the economy ,stupid. Rather it is not the President, but 
the 1% as a class that run "the" economy.

 Even George Bush is not mainly responsible for the economic crash.
Wall Street is. GM and Chrysler's , and other private company
decisions put Michigan into one state recession for many years
starting from the early 2000's That wasn't determined by the policies
of Bush or Engler; and I am not a fan them. This is not a gov'mnt
controlled economy, so gov'mnt can't be made the main target of
criticism's regarding the Great Recession and high unemployment. Thus,
the Occupy Wall Street protests at the correct  location in protesting the
private enterprise symbolic center.

Wall Street is our dominant political institution 

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