Thursday, February 11, 2010
America is not Greece!
The other day on Fox Business, Senator Jim Demint (R-SC) was being interviewed and he said that the situtaion in Greece foreshadows what could possibly happen here in the U.S.
Demint's assertion went completely unchallenged by host Brian Sullivan, wno could have easily pointed out a very important distinction: that countries in the eurozone are functionally like states in the United States. They no longer issue currency and, therefore, do not have the ability to simply credit bank accounts like the Federal Government can.
Demint went on to use all the debt terrorist catch phrases such as "unsustainable debt," "drowning in debt," "need to balance the budget and cut spending," etc.
Demint is one of a group of Senators who are pushing for a balanced budget ammendment, which if it passes, would put this country into long-lasting austerity and widespread poverty for generations to come. In fact, America would never recover from that--ever!
The senator also used the Greece sitatuion to point out how workers there are protesting against the layoffs and budget cuts (how dare they complain when their livelihood is threatened!!) that may be imposed under austerity.
He was quick to add that those workers were all "unionized" (his observation) and that we shouldn't waste any time in going after the unions here in our own country lest they start screaming and protesting when his desired, forced spending cuts threaten their livelihoods.
Demint's rant against the unions was a thinly veiled attempt to use junk economic arguments to hide his disdain and hatred of workers and his love of greedy corporations. His design for America is to crush the earnings potential of the working class so that big companies with their lobbyists and fat-cat exectuvies can make even more money, perhaps to then go play golf down in Hilton Head, in his home state of South Carolina.
Senator Demint should know a little bit about income destruction: his state ranks among the lowest in the nation in per capita income. Curioulsy, though, it ranks among the top when it comes to receiving aid from the Federal Gov't: for every dollar that South Carolinians send to Washington, they get more than a dollar back. It's a far better deal than the folks in Michigan. You don't hear the senator complaining about that.