Hey American leftists, Socialism does not work!
It never ceases to amaze that American liberals are astounded that European-style socialism just does not work in the United States of America, and no other place, and never will. The latest issue of "Time" magazine (Oct. 10, 2011) provides yet another example of baffled liberals in the "mainstream" media -- mirroring the attitudes of the hard-left in the Obama administration -- bewildered about why America's economy is still in a tail-spin almost three years after Barack Obama took the oath of office.
Rana Foroohar, in her lead story article in Time magazine entitled "A New Era of Volatility" , writes: "A global double-dip recession, implausible in spring, is now a distinct possibility come autumn." Today, Federal Reserve Chairman Ben Bernanke today in testimony before Congress said that the U.S. economy is growing more slowly than the Federal Reserve expected. Poor job growth is depressing consumer confidence.
It is no wonder consumer confidence is plummeting wiith Obama doubling-down on his European-style socialist policies. America's current ruinous economic woes were not unforseeable nor implausible to conservative economists and indeed, to most Americans with commonsense. Big government schemes cannot grow an economy. Obama's trillion dollar "stimulus," his multi-trillion socialized medicine scheme, ObamaCare, his pushing through the so-called finanicial reform job-killing bill called Dodd-Frank, and countless other left-wing policies are killing America's economy.
Foroohar writes in her article "At the recent International Montetary Fund (IMF) meeting in Washington, policymakers from around the world were as anxious and shell-shocked as they have been since the financial crisis began in 2008." What is really scary is that these supposed financial wizards are so shocked about the failure of leftist/socialist policies in America which never work.
Likewise, in the same "Time" issue, Jeffrey D. Sachs blames President Ronald Reagan for the current economic conditions forgetting about the inconvenient fact that Reagan's policies -- including John F. Kennedy-like tax cuts -- produced a quarter century-long economic boom.
Sachs takes a swipe at the Republicans' approach to creating jobs and prosperity: "The Republican approach has boiled down to one idea: cut taxes permanently to revive the economy, and slash government spending to end the need for taxation. It's an argument that they've peddled, and largely implemented, for 30 years with poor and worsening results."
No, American leftists, -- including "Times"' Rana Foroohar and Jeffrey D. Sachs -- it is the left-wing big-government job-killing policies which you advocate which have crushed the American economy. America needs bold leadership, which hopefully, the American people will vote in during next year's presidential election.