Stranger in a Strange Land of Tax Cuts
A guy defending the Trump economy just said this in high dudgeon and low sarcasm:
“We were much better off under Obama with so many people unemployed or underemployed that they actually dropped out of the labor market. Just go on food stamps and Obamacare. Sub 2% growth. We don't want to have more job openings than workers available, rising wages and what's now projected at 4+% growth.”
My Reply:
Bro, you've spouted an absurd list of GOP boilerplate banalities that exploit the lack of knowledge of its Republican constituency. And all of what you said doesn't pertain to the Republican tax law of 2017-2018 in the least. But your uninformed "factoids" do demonstrate that you might have been asleep during the 2007-2008 financial crisis that led to the worst recession in our country since the Great Depression and brought the global financial system to near collapse. It was largely due to grotesque mismanagement of the American financial sector by the GOP and its blanket deregulation dogma concerning the financial sector. And it resulted in uncontrolled risk-taking by banks and investment houses as well as other disastrous consequences too numerous to include here. The means by which we and other nations were able to reverse the massive damage of the Recession of 2008 was the institution of Keynesian economic policy by injecting liquidity into the credit market and stabilizing global markets with the largest monetary policy action in world history - also known as “The Financial Bailout”. This was implemented by the Obama Administration and resulted in regulatory legislation such as the "American Recovery and Reinvestment Act ", the "Restoring American Financial Stability Act", the "Wall Street Reform and Consumer Protection Act", and bills such as the "Fraud Enforcement and Recovery Act" - all of which resulted in the passage of the "Dodd–Frank Wall Street Reform and Consumer Protection Act".
But here's the freaky part: The Trump/GOP Congress is trying to reverse the Dodd-Frank Wall Street Reform and Consumer Protection Act. Trump signed an executive order in February saying: “We expect to be cutting a lot of Dodd-Frank, because frankly, I have so many people, friends of mine that had nice businesses; now they can’t borrow money.”
Now, notwithstanding the well known compassion Trump shows for his pals, ask yourself, Why would the Republicans want to do that??? Mr. Trumpite, Dude, this is where Google comes in handy. But even if you won’t read up on these matters, you’ll need a new party if you want to have a job in the future, not to mention the Social Security you've paid into, the Medicare you might need should you live long enough, or the Medicaid you could end up needing should the Republicans win in November.