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Human beings with an ounce of intelligence look at their mistakes and
successes, learn from them, and do their best to avoid bad decisions
while repeating what they know is successful to spare themselves
needless misery. In the 1930s, a Great Depression racked the world’s
economy and Americans were fortunate their leaders took steps to protect
the people with the New Deal, implemented a massive public works
project, and passed regulatory laws to ensure economic disaster never
threatened the survival of the nation again, but it took years for the
people and the economy to recover. Despite the devastating effects of
the Great Depression, the richest industrialists emerged with greater
wealth than they could possibly imagine as the rest of the population
struggled to survive and if not for the New Deal, it is doubtful working
Americans would ever recover, much less prosper. Fast forward to 2007
and deregulation, Wall Street malfeasance, and uninhibited greed created
a Great Recession that decimated the economy and destroyed millions of
Americans’ jobs, and like the Great Depression, the richest
industrialists emerged with increased wealth beyond their wildest dreams
as the economy recovered.
Americans can hardly take much more economic abuse from Republicans,
Wall Street CEOs, or Libertarian teabaggers panting to cut spending
under the guise of debt or deficit reduction just to enrich wealthy
industrialists. Barack Obama has presided over the sharpest cut in
spending in 60 years, and the phony deficit is being reduced at levels
that threaten to undo the meager recovery by starving the government of
much-needed revenue better spent investing in infrastructure, renewable
energy, and education, but that would mean a thriving economy that
Republicans will never allow, not when there is wealth for their
supporters in a recession.
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