Tuesday, January 26, 2010

The Face of Tragedy

Here is the tragedy:

The level of employment today is the same as it was 10 years ago. But the population of the US has grown by 9.9% from 281,421,906 to 309,162,581.

I remember with bitterness the Bush "justification" for two big tax cuts for the rich. His version of Reaganomic "trickle down" economics was that the tax cuts would prime the pump for an explosive growth in the economy. Look carefully at the above graph. Do you see any "explosive" growth in the economy? No!

What exploded was the wealth for the top 0.1% of the population. The super rich got obscenely rich under Bush. The US returned to a new "gilded age".

And the tragedy of Obama is that unlike the progressives of the early 20th century, Obama is not interested in breaking the power of the super rich. He is just another pet poodle of the rich & powerful.

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