Well yes, America prospered after WWII, manufacturing boomed, auto production quadrupled, the interstate highway system along with new bridges were being built, the baby boomers required new schools to be built and so on as the government was spending loads of money. The US was admired around the world as the richest country in the world and most wanted to come here to experience the finacial freedom and prosper. But guess what, the middle class wasn't spending enough money to keep the economy thriving as the deficit rose, inflation rose and they ended up with record high unemployment for the times and into a recession. It wasn't until JFK decided to lower taxes to encourage job growth that the economy started to recover.
Look at where we are now because of Obama's middle out stimulus failures of thinking that government spending on infrastructures was somehow going to bring us out of the greatest recession since Black Friday. We have the worst recovery in 60 years with high unemployment, stagnation growth, cities going bankrupt, inflation creepy up, double the price of gas from when Obama was elected, wages dropping across the board and historic deficits.
Heres a chart for you I give up on the imaging for now.
This middle out economy policy is unsustainable and history proves it.
Sorry you missed the lesson. ;-)
Current Events » in reply to I guess it depends on your age
Age of the fantasy
The whole thread (51 posts)
- Okay, I would like to start a thread and I would really like it to stay on topic, if at all possible.
- "Middle-out" Economics.
- Simple, Right to Work Laws
- You might have better luck on Current Events
- Unions, collective bargaining, and the right to strike.
- Yeah, I think we all owe a debt to unions.
- I don't think that is realistic anymore, ER.