Webmaster Forum

Go Back   Webmaster Forum > The Webmaster Forums > Forum Lobby > Controversial Social Issues

Controversial Social Issues Discussions concerning controversial social issues. Topics include politics, religion, culture, social and economic issues, etc. Respect required at all times.

Thread Tools Display Modes
Share |
Old 07-23-2012, 12:16 PM
Franc Tireur Franc Tireur is offline
Contributing Member
Join Date: 08-15-06
Posts: 10,109
iTrader: 11 / 100%
Austerity's Big Winners Prove To Be Wall Street And The Wealthy

The poor and middle classes have shouldered by far the heaviest burdens of the global political obsession with austerity policies over the past three years. In the United States, budget cuts have forced states to reduce education, public transportation, affordable housing and other social services. In Europe, welfare cuts have driven some severely disabled individuals to fear for their lives.

But the austerity game also has winners. Cutting or eliminating government programs that benefit the less advantaged has long been an ideological goal of conservatives. Doing so also generates a tidy windfall for the corporate class, as government services are privatized and savings from austerity pay for tax cuts for the wealthiest citizens.

U.S. financial interests that stand to gain from Medicare, Medicaid and Social Security cutbacks "have been the core of the big con," the "propaganda," that those programs are in crisis and must be slashed, said James Galbraith, an economist at the University of Texas.

Advocates of austerity measures have sold their proposals as a means to improve the economy.

"It is an error to think that fiscal austerity is a threat to growth and job creation," declared European Central Bank President Jean-Claude Trichet in July 2010.

"We're going to cut spending to get the debt down, help create jobs and prosperity, and reform government programs," vowed Rep. Paul Ryan (R-Wis.), chairman of the House Budget Committee, in a February 2011 commentary for Real Clear Politics. Ryan would later declare that his budget plan, with far more aggressive austerity measures than those ultimately enacted by Congress -- including $6.2 trillion in spending cuts -- would have spurred $1.5 trillion in economic growth and created 2.5 million jobs.

Do you think austerity's big winners are Wall Street and the wealthy?
Reply With Quote



Go Back   Webmaster Forum > The Webmaster Forums > Forum Lobby > Controversial Social Issues


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Prosecuting Wall Street Franc Tireur Controversial Social Issues 4 12-08-2011 02:19 PM
How Wall Street Can Still Win Franc Tireur Controversial Social Issues 0 10-21-2010 08:33 AM
If women ran Wall Street Franc Tireur Controversial Social Issues 8 04-06-2010 05:35 AM
Wall Streetís War Against Main Street America Franc Tireur Controversial Social Issues 0 02-19-2010 10:09 AM

V7N Network
Get exposure! V7N I Love Photography V7N SEO Blog V7N Directory

All times are GMT -7. The time now is 02:22 PM.
Powered by vBulletin
Copyright © 2000-2014 Jelsoft Enterprises Limited.
Copyright © 2003 - 2018 VIX-WomensForum LLC