Economist Paul Krugman in an editorial of 3/28 in the Times Picayune reported how job creation in the economy has come back from the great republican recession of 2008. He also reported how the republican rhetoric of tax breaks for the wealthy to create jobs is a trickle down fairy tale. (Not in those words)
Krugman does not use the word elite, a word this writer has used to describe conservatism, but goes on to say, "when good news arrives about the budget, the economy or the ACA which is reducing the uninsured numbers while costing much less" it must be denied by republicans. Their ideology utterly depends on the proposition that conservatives and only they, possess the secret key to prosperity. That is the same as thinking they are elite.
The article points out how big business would never admit that govrnment policies can create jobs because that would devalue one of their favorite arguments. The fact shows that democratic administration policies over the years has proved big business wrong concerning job creation. The latest being President Obama's economic policies, job creation, lower unemployment and reducing the deficit.
In line with Mr. Krugman's article, the National Association of Business Economics forecast more hiring, lower unemployment, low inflation and more growth in consumer spending in 2015. They also perdict more investment by business in both equipment and intellectual property.
The key to understanding what has taken place since the great recession is democratic policy. And it happened despite the many obstacles thrown up by the republican party. "PolitiDose" is proud to have played a part in telling this story early on.
This commentary written by Joe Lorio
Note: Comment by the Nationsl Association of Business Economics quoted above was published in the New Orleans Advocate of 3/31.
