Financial woes in Europe should be a warning to U.S. politicians; Democrats speak out
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Financial woes in Europe should be a warning to U.S. politicians; Democrats speak out

Washington : DC : USA | Jun 07, 2012 at 12:04 PM PDT
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Italy goes for growth over austerity

American voters need to wise up and pay attention to what is happening around the World. Europe is facing severe economic failure on many fronts. Decisions on how to manage an economy are made by elected officials and American voters need to tell those officials how to vote on key economic issues. Trickle Down Economics is a complete failure and the people need to put their foot down and say enough is enough.

Austerity-first is not working for Europe and Americans need to wake up and pay attention. Leading Democrats are “ arguing that Mitt Romney and the Republicans, with their focus on spending cuts, are following Europe’s austerity-first example, to dismal effect so far: Greece over the edge; Italy, Spain, Portugal on the edge; Britain in recession; and the United States suffering through a needlessly weak recovery because of government cuts,” according to The New York Times.

As the chasm between the top 1% of Americans and the working class continues to grow, voters hold the power to make changes to bring our economy back into place. Voters at the poll must be sure to understand the issues and not buy in to high dollar political ads that fool them into forcing our nation to take a step backwards. As our nation continues the recovery from one of the worst economic crises in its’ history, it becomes even more important for the proper steps to be taken to allow the economy to continue recovering.

Former President Bill Clinton has gone on attack this week, accusing “Congressional Republicans of embracing policies of “austerity and unemployment” that have caused protests throughout the euro zone. Who would have ever thought that the Republicans would embrace the austerity and jobless policies of what they used to derisively call old Europe.” Clinton said during a speech at the Waldorf-Astoria hotel, referencing the Bush administration’s attitude toward Europe’s who did not embrace war policies prior to September 11. “I never thought I’d live to breathe and see, here they are saying, ‘Let’s do the eurozone’s economic policy- they got 11 percent unemployment- we can get up there if we work at it,’ ” he said, drawing laughter from the crowd.

Britain’s Prime Minister David Cameron came into office in 2010. He started cutting spending and eliminating public sector jobs in an attempt to reduce the deficit. Britain is now experiencing a double dip recession and their economic outlook continues to get worse. “We have a laboratory experiment going on for what the Republicans want to do here, and that’s Europe,” said Senator Charles E. Schumer, Democrat of New York. “Particularly England, because they had the equivalent of a Democratic government, and Cameron comes in with austerity, and now they’re in a recession.”

“Europe has failed trying to do austerity,” said Representative Norm Dicks- WA (D). “They took the austerity approach, and that’s not how you get out of recession. Even Franklin Roosevelt learned that- we didn’t get out of the Great Depression until World War II.”

The New York Times reports, “Obama advisers argue that the budget proposal of Representative Paul D. Ryan, Republican of Wisconsin, which Mr. Romney has called “marvelous,” is actually a radical vision that would deepen the inequality in American society. They say that Mr. Ryan’s call for overhauling Medicare could drive up costs for future retirees and fundamentally change the popular health plan.”

“The Republican budget approach is far more extreme than austerity measures considered in Europe, in terms of both underlying goals and specific short-run policies, and the lack of any balance in approach. Republican plans in Congress would be even more detrimental to longer-term growth because their refusal to consider any revenues necessitates even deeper spending cuts. In contrast, even conservative governments abroad have taken a more balanced approach to deficit reduction.” according to Jason Furman- principal deputy director of the National Economic Council.

Voters must heed this advice as they prepare for the November election. A move toward continuing the current plan under the Republican leadership is guaranteeing further economic failure in the United States.

http://www.nytimes.com/2012/06/07/us/politics/democrats-get-line-of-attack-in-europes-woes.html?_r=1&smid=tw-share

http://www.telegram.com/article/20120607/NEWS/106079913/1002/business

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Financial woes in Europe should be a warning to U.S. politicians- Democrats speak out
Amee Ellsworth is based in Bennett, Colorado, United States of America, and is an Anchor for Allvoices.
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