Three Things About Our Economy Most Americans Already Know

Three significant events are going to take place in America in the next 18 months. We will increase our nation’s debt ceiling, despite all the political showboating. We will not have a meaningful amount of new jobs created in the U.S., even if we were to cut the corporate tax rate to zero. And the mortgage crisis will continue to suppress the number of new housing starts that are crucial to any sustainable economic recovery.

These are the macro economic bulwarks upon which much of our domestic economy revolves, yet our media continue to spotlight bombastic “guessperts”, disingenuous panelists, dogmatic politicians and even erstwhile presidential candidates, all of whom insist on ignoring these realities in favor of their pet “pie in the sky” policy solutions.

The political sausage making of the Obama Administration has been going on for two years now, and some of those who gave their all for his candidacy back in 2008 cannot believe what they see going into the casing as President Obama gets down to the cold, hard business of governing and playing politics.  

Of all the politicians in Washington who claim to be fighting for “the American people” through their various special interest groups and caucuses, Senator Bernie Sanders from Vermont is probably the one who consistently advocates primarily for the betterment of the average American citizen’s social, physical and economic well being. The mini-manifesto this senator’s office released this week, a ten thousand word address to President Obama, aimed directly at what Senator Sanders says is the Obama Administration’s failure to “stand with the American people and say to the Republican leadership that enough is enough.”  

Could Senator Sanders be right? Or is his prescription for economic recovery just another one of the same old “pie in the sky” scenarios that conveniently ignores the ideological standoff between a Republican controlled House of Representatives and a Democratic majority in the Senate?

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