Reagan got elected by telling the country the debt was "out of control." Compared to national income, it was the lowest in 50 years. Suffering from Alzheimer's and with only an Actor's understanding of economics, he probably didn't know. But his supply-side economists did. They lied to America.
In 1981 Reagan's supply sider economists wrote the tax cuts for the rich and his budgets. The Senate was Republican, and Reagan got the Southern Dems in the House to vote for him. All Republicans and a few Dems voted for the budget. Tax cuts for the rich were largely responsible for the National Debt having its worst year since 1945. The next year it got worse, and for 20 out of 20 years, the supply siders have raised the National Debt relative to our ability to pay.Absolutely NOTHING that Rethglicans in Congress are considering cutting out of the Budget will have any meaningful affect on reducing the National Debt. What they plan shall destroy jobs, and will likely accelerate the Debt. This is a huge lie being forced upon us by the wealthiest class (One Percent) of America's Fascists.
A coalition of watchdogs and activists revealed how the wealthiest bailed-out banks caused the current economic crisis by dodging taxes, and demanded that Attorneys General of all 50 states file criminal charges against banks suspected of committing foreclosure fraud during the nation's housing crisis. Read the Article
On the heels of an announcement that he would be holding Homeland Security hearings on the ‘radicalization’ of Muslim Americans, King sponsored a bill to extend loopholes in a chemical security law for 7 more years, instead of supporting strong Legislation that will prevent Corporate Chemical Disasters at plants that store tons of poison gases.
The 300 highest risk chemical plants together put over 100 million Americans needlessly at risk every single day and elected officials like Rep. King and the rest of the GOP are working to keep it that way.
King claimed it’s about jobs. But you and I know better. His support for a weak chemical security law has to do with Profits of Chemical Corporations, not jobs. King just hopes his political theater will distract you.
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