I’ve linked my poster art (below) to an article about the statement recently issued by nearly 350 prominent economists, warning against the so-called “Grand Bargain” that’s about to be passed in the lame duck session of Congress (the negotiations are well underway, and the president has already repeatedly signaled his willingness to slash entitlements and cut corporate taxes as key components of this brutally lopsided deal). Many observers have noted the grim irony that after their Election Day drubbing, conservatives are about to score a historic victory, plundering the New Deal after decades of failed attempts to do so.
I certainly hope that we prevent this terrible victory for radical conservatism and, toward that end, I welcome my readers to print this poster (below) and display it as you feel appropriate. And spread the word that NOW is the time to push the politicians to defend entitlements… before this Raw Deal is sealed.
And here are a few more choice excerpts from the (Jobs Not Austerity) economists’ joint statement:
“…too many in Washington are fixated on cutting public spending to balance the budget, not on how to put people back to work and get our economy going. There is no theory of economics that explains how we can deflate our way to recovery.”
“If you cut spending and consumer purchasing power in an already depressed economy, unemployment rises and revenues fall — and the goal of a smaller deficit keeps receding like a mirage in a desert.”
“The budget hawks have the sequence backwards. Public outlay for jobs and recovery come first, growth is restored, and revenues follow. Budget cuts in a deep slump lead only to a deeper slump.”