A caller on this morning's "Washington Journal" cajoled the C-Span host to put the "debt clock" back up on his desk. The host promptly complied, thus spreading the endless Koch libertarian fear factor, a religious creation wrapped in the free market myth as applied to a sovereign country's currency.
Banker busting regulator, financial criminologist, Bill Black busts the balloon with brevity and logic, even if it's an austerity loving Democrat. Here he writes of Dr. Howard Dean's lack of education:
[Excerpt] ... Dean has one enormous blind spot – his assumption that federal deficits are evil and that the answer is to continue to wage vigorously the long war – the repeated assaults on the working class through austerity. I have been writing a series of columns about the fact that the Democratic Party must learn from the election that it has to stop this long war. I have explained why austerity produces immoral results because it is economically self-destructive and politically suicidal.
I researched Dean’s statements about austerity to try to understand why a man who opposed the DLC would be so enthusiastic about inflicting austerity on the working class. I found part of the answer. Dean was Vermont’s governor. Dean explained to a conservative “Squawk Box” host why he supported austerity based on his experience as a governor. ... [End of Excerpt]
[Excerpt] ... Dean has one enormous blind spot – his assumption that federal deficits are evil and that the answer is to continue to wage vigorously the long war – the repeated assaults on the working class through austerity. I have been writing a series of columns about the fact that the Democratic Party must learn from the election that it has to stop this long war. I have explained why austerity produces immoral results because it is economically self-destructive and politically suicidal.
I researched Dean’s statements about austerity to try to understand why a man who opposed the DLC would be so enthusiastic about inflicting austerity on the working class. I found part of the answer. Dean was Vermont’s governor. Dean explained to a conservative “Squawk Box” host why he supported austerity based on his experience as a governor. ... [End of Excerpt]
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