There are legitimate reasons why millions of willing-to-work Americans remain unemployed. Or remain trapped in part-time, no-benefits jobs far below their levels of education and experience.
But there are sinister ones, too–such as the deliberate refusal of Congressional Republicans to create job opportunities for their fellow Americans.
U.S. Senator Bernie Sanders (I, Vermont) made just that argument to guest host Ezra Klein on the June 12 edition of “The Rachel Maddow Show.”
KLEIN: Now, some Republicans say and some people say didn’t we do infrastructure a couple years ago? You heard a lot in the stimulus we had done infrastructure. So, how come we have all of this outstanding?
SANDERS: Because we ignored the needs for a long, long, time. Yes, we did put infrastructure. We put it into the state of Vermont, put more money into roads and bridges. But we need a lot more and that`s true for the other 49 states as well.
We have–it’s not only roads, it’s not only bridges, it’s not only water systems. It’s mass transportation. It is rail. China is building high-speed rail all over the place. We are not. Our rail system is in many ways deteriorating.
We have schools that are aging. We have culverts that need work. We have tunnels that need work.
We have an enormous amount of work that is ready to go right now and it is beyond comprehension that our Republican friends will not support infrastructure legislation.
If Sanders is correct, Republicans are deliberately sacrificing the economic life of the nation because:
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They hate President Obama; and
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They believe that making the American people suffer will lead them to elect Mitt Romney.
On June 4, veteran political analyst Chris Matthews discussed this posibility with John Heilemann, the national affairs editor for New York magazine.
Monday, June 4 – msnbc tv – Hardball with Chris Matthews – msnbc.com
Chris Matthews
MATTHEWS: Is American business sitting on piles of cash that could help the economy, helping to bring down President Obama?
(VIDEO CLIP)
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: Today American companies have nearly $2 trillion sitting on their balance sheets. And I know that many of you have told me that you`re waiting for demand to rise before you get off the sidelines and expand. So I just want to encourage you to get in the game.
(END OF VIDEO CLIP)
MATTHEWS: That was President Obama in February of last year, speaking to business leaders at the U.S. Chamber of Commerce headquarters here in Washington, imploring them, as you just heard, to stop hoarding cash and start investing in the American economy.
Well…they didn’t take his advice at all. The amount of cash that American companies…have been sitting on the sidelines hit over $2.2 trillion at the end of 2011. That’s over $2 trillion. The amount of cash companies are hoarding has risen…dramatically over the past four decades, spiking sharply in the last few years.
Of course, consumer demand is also low, but my question about business is, Are they sitting on that cash through omission or whatever to hurt the president, get him out of office so they can have what they’d like, a regulatory environment which is easy on them and a low corporate tax structure?
You know, I’m talking about this and trying to think about this honestly. If you’re a big business guy, you always have prejudices, but your job is to make money for your stockholders.
When they go in that corporate boardroom with mostly Republican men and women around there…they’re sitting around, thinking, Why don’t we wait around about six months or a year until we have the right regulatory environment–meaning less regulation, a freeze on regulations–and a lower corporate tax rate?
Because that’s what Romney is promising them.
Would this be some perverted way of saying, We can screw Obama by saying we’re waiting for the Republicans to come in?
JOHN HEILEMANN, NEW YORK MAGAZINE AND MSNBC POLITICAL ANALYST: Well, Chris, there’s just so much going on here. Now, look, there is no doubt that there are some Republican businessmen and some Republicans on Wall Street in private equity and other places–and you hear it up here in New York all the time–who are hanging back because they think that they would prefer to have a Republican president who has policies–who implements policies that are more favorable to business.
There’s no doubt about that. And there’s discussion of it all the time, as I said, here in New York. There`s a whole bunch of other business people who are not that ideologically inclined, who have the reality of the macroeconomy over the course–the totality of President Obama’s time in office and especially over these last six or nine months. They’re looking at a very soft economy….
MATTHEWS: No, I just–I’m thinking about a self-fulfilling prophecy.
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LIE CREATORS – PART TWO (OF EIGHT)
In Bureaucracy, Business, Law, Politics, Social commentary on June 28, 2012 at 12:00 amNiccolo Machiavelli, the father of modern politics, warns in his masterwork, The Discourses:
Niccolo Machiavelli
All those who have written upon civil institutions demonstrate…that whoever desires to found a state and give it laws, must start with assuming that all men are bad and ever ready to display their vicious nature, whenever they may find occasion for it.
If their evil disposition remains concealed for a time, it must be attributed to some unknown reason; and we must assume that it lacked occasion to show itself. But time, which has been said to be the father of all truth, does not fail to bring it to light.
Where the crimes of corporate employers are concerned, we do not have to wait for their evil disposition to reveal itself. It has been fully revealed for decades. We need only find the courage to redress the costly outrages we see every day in the workplace.
In its June 8, 2011 cover-story on “What U.S. Economic Recovery? Five Destructive Myths,” Time magazine warned that profit-seeking corporations can’t be relied on to ”make it all better.”
Click here: What U.S. Economic Recovery? Five Destructive Myths – TIME
Wrote Rana Foroohar, Time‘s assistant managing editor in charge of economics and business:
American companies “are doing quite well,” but most American workers “are earning a lower hourly wage now than they did during the recession.”
Corporations, in short, are doing extremely well. But they don’t spend their profits on American workers.
“There may be $2 trillion sitting on the balance sheets of American corporations globally, but firms show no signs of wanting to spend it in order to hire workers at home.”
In short: Giving even greater tax breaks to mega-corporations–the standard Republican mantra–has not persuaded them to stop “outsourcing” jobs. Nor has it convinced them to start hiring Americans.
While embarrassingly overpaid CEOs squander corporate wealth on themselves, millions of Americans can’t afford medical care or must depend on charity to feed their families.
Yet there is also a disconnect between the truth of this situation and the willingness of Americans to face up to that truth.
The reason, writes Foroohar:
Republicans have convinced most Americans they can revitalize the economy by slashing “taxes on the wealthy and on cash-hoarding corporations while cutting benefits for millions of Americans.”
To restore prosperity, America will need both tax increases and cuts in entitlement programs.
And the answer? “These 8 companies recently announced layoffs in the thousands.”
8 job killing companies – Hewlett-Packard slashes 27,000 jobs (1) – CNNMoney
The companies:
Of course, some companies have legitimate reasons for cutting back on employees:
But there are also sinister reasons why millions of willing-to-work Americans remain unemployed. Or remain trapped in part-time, no-benefits jobs far below their levels of education and experience.
Chief among these is the refusal of Congressional Republicans to create job opportunities for their fellow Americans.
U.S. Senator Bernie Sanders (I, Vermont) made just that argument to guest host Ezra Klein on the June 12 edition of “The Rachel Maddow Show.”
U.S. Senator Bernie Sanders
SANDERS: Everybody knows you have to invest in infrastructure. We can create millions of decent paying jobs in the long term and I speak as a former mayor, you obviously save money because you don’t have to do constant repairs as we’ve just seen.
The simple reason is I’m afraid that you have a Republican mindset that says, “Hmm, let`s see, we can repair the infrastructure, save money long time, create millions of jobs, bad idea. Barack Obama will look good. And we’ve got to do everything that we can to make Barack Obama look bad.”
So, despite the fact that we had a modest bipartisan transportation bill, roads, bridges, public transit pass the Senate with over 70 votes, Inhofe, the most conservative guy in the Senate, working with Barbara Boxer, one of the most progressives, we can’t get that bill moving in the House of Representatives.
So if you’re asking me why, I would say 100 percent political. If it’s good for America, if it creates jobs, if it’s good for Barack Obama, we can’t do it.
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