Sunday, January 6, 2013

Even the IMF says austerity doesn't work

Television talking heads and Republican legislators have been screaming about the federal deficit since Obama took office in 2009. They keep telling us that the way out of the recession is to reduce taxes and cut spending also known as austerity.

Until this week we’d been operating for a decade under the lowest taxes in over half a century and that didn’t seem to generate jobs before or after the crash of the financial system. A couple of days ago the International Monetary Fund released a report that shows austerity doesn’t work either; in fact austerity actually makes things worse. That hasn’t stopped the conservative media from continuing to tout austerity in the U.S. as the solution to our problems.

What this nation really needs is not austerity or lower taxes it’s a full employment policy. We need to emphasize putting every able person to work in meaningful jobs so that they’re able to meet their responsibilities to feed and clothe their families and our society gets the benefit of the services and products they provide.

No comments:

Post a Comment