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Old 04-02-2013, 03:39 PM   #13
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Join Date: Jan 2003
Location: Twixt Hell & Highwater
Posts: 55,935

Malik Jackson

Originally Posted by TonyR View Post
Last paragraph:

Washington, of course, is in the grip of an economic philosophy promoted not only by Tea Party Republicans, but also by corporate lobbies like Fix the Debt and blinkered editorial page writers. This philosophy sees the expansion of the public sector as occurring at the expense of the private sector; but the experience of the New Deal and World War II suggests otherwise. In an economy driven by a high-powered private sector, the growth of the public sector can reinforce the strength of the private sector by smoothing out the business cycle and making investments in future growth that private industry would not undertake on its own. Government regulation can also help by preventing financial crises and discouraging stifling monopolies. But to many, these lessons seem to have been lost. Washington needs to wake up, but itís not happening, and thatís why there are reasons to worry about our economic future.
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