Why do you continue to misinform your constituents of the true nature of our socio-economic problems? You are doing us a disingenuous and dangerous disservice. For decades, you and like-minded individuals have promoted and disseminated policies and ideologies which force the country to fall further and further behind in key demographic categories of global competitiveness. Why do you and yours promote policies that can only lead to widespread impoverishment and low-wage, low-skilled jobs with no prospects of upward mobility. Such policies are not in the general public’s interests or in the long-term interests of American businesses, large or small.
Countries which have heavily and continuously invested at every level of public education, in universal health care and comprehensive social welfare systems for their citizens are pulling further away from us. This includes newly emerging economies, not just our traditional trading partners in Europe and Asia. You obfuscate facts and obstruct policies that can remedy and improve our economic prospects by presenting half-truths.
Here is a case in point:
What this graph means:
- What is debt held by the public? Debt held by the public is the value of all federal securities sold to the public, i.e., investors outside of the federal government. When the government’s spending exceeds its revenue, it must borrow to finance the difference. Thus, debt held by the public essentially represents the amount the federal government has borrowed to finance cumulative cash deficits. This debt is owed to a wide variety of investors, including international investors, domestic private investors, the Federal Reserve, and state and local governments. Source U.S. General Accountability Office
The sentence in bold is the problem and the solution. In the 1980s, we changed the role of government from being the general public’s greatest and most effective advocate to being that of a market tool. As a market tool, government has catered to the “perceived” and short-sighted needs of big business. Ever since we have loyally subscribed to deregulation, union busting, tax reforms for the wealthy and blind faith in “trickle-down economics” and the market’s self-regulation myths, we have increased the Debt Held by the Public. As a result, we have essentially demonized the proactive role government can and must play in all of our lives and allowed economic inequality to take hold of this nation at the horrific expense of the middle class and all of those below it. Here is the truth behind the graph which you have presented:
Look at and compare the two graphs…
Want to do our country a grand service? Rebuild the middle class and offer avenues of opportunity to those living in poverty and near-poverty conditions. You cannot “cut” your way to a healthy and viable economy of the future. You must comprehensively invest in it and its foundation, namely, its people. This argument, by the way, should not even have to be made if one simply does what is right for everyone, especially our most vulnerable.
Educate your constituency, be a part of the solution, be on the right side of history & be a positive representative of humanity:
On the socio-economic needs of a competitive society
Address & fight poverty and inequality in our work force
Recipe for poverty – US leading in low-wage jobs, least worker protections & weakest welfare-state ; also, click on graph was originally published or find the cepr report here (see esp. Lesson 5)
Greetings from OP 6-22