The Abject Failure of Republican Economic Policy Is Driving Millions Into Poverty

[babylonsister]

http://www.politicususa.com/abject-failure-republican-economic-policy-driving-millions-poverty.html

The Abject Failure of Republican Economic Policy Is Driving Millions Into Poverty

By: Rmuse
May. 7th, 2013

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It has been nearly two-and-a-half years since Republicans took control of the House with promises to focus on jobs, jobs, jobs, but they have not created one job despite their claims of passing over thirty jobs bills. American businesses have suffered, and complained loudly that they do not need deregulation, lower taxes, or interest-free loans to prosper and start hiring new employees despite what Republicans claim; they need consumers with money to spend.

Economists and business experts alike agree that a strong recovery and thriving economy requires more than a population with barely enough money to purchase the basic necessities for survival, and yet that is precisely what Republican economic policy since the Great Recession has entailed. In fact, their job-killing policies are driving more Americans into poverty that the World Bank and International Monetary Fund (IMF) said plagues the entire world as they noted that ending poverty and growing the world economy is dependent on policies that encourage job creation Republicans are loathe to even consider.

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As economic stewards, Republicans have shown themselves to be abject failures on every front whether it is driving millions of Americans into poverty or creating hardship for businesses with their incessant claim that taxes and regulations make small and large employers reluctant to expand and hire more workers. Another study from the San Francisco Federal Reserve found that the lack of job creation is a direct result of a lack of demand for their products because if consumers do not have money to spend, businesses have no reason to expand or hire and at some point they will have no reason to stay in business. The only period in the past four and a half years of business expansion and decent job growth was after President Obama’s American Recovery and Reinvestment Act (stimulus) that created at least 4 million jobs and saved the automobile industry that is the only real success story this country has experienced. There has been tepid job growth, but the jobs are primarily in the service sector and pay minimum wages for part time work that will not even afford an apartment in any state of the Union.

In states Republicans are destroying unions and public sector jobs that are typically low to middle income jobs that pay living wages that are the drivers of a vibrant economy the GOP is desperate to destroy according to their version of laissez faire capitalism. The American Legislative Exchange Council is providing Republicans with Draconian right to work laws that are a consumer-driven economy’s death knell, and combined with the push to eliminate overtime pay and the federal minimum wage, the GOP’s push to increase poverty will be the undoing of the business community Republicans claim to champion. Capitalism can only exist, and succeed, if there are profits for business borne of consumer spending, and as the GOP eliminates jobs and consumers’ ability to spend, not only will they destroy profits, they will destroy more jobs, and eventually businesses that are the lifeblood of a capitalist-driven economy.

[abq e streeter]

1. Although from their perspective, it's not a failure, it's a rousing victory.

[kestrel91316]

3. Exactly. The destruction of the middle class is proceeding according to plan.

[upaloopa]

2. I was thinking about this thought this morning

listening to the Ed show. A senator was talking about infrastructure bills that could create jobs but the Repubs won't vote for them.
To the 1% the repub economics policy is working real well. The signs are the increase in income and wealth disparity.