NORMAN — Editor, The Transcript:
George Will might have a point; the whippersnappers who looked up from selfies on iPhones long enough to elect this shallow, narcissistic president have the president they wanted. Graduates leaving school with usury immoral amounts of debt and entering a tough job market have themselves to blame.
Dipping from the tapped out well of the popular memory of the Reagan presidency, Will claims supply-side economics pulled this country out of the ’80s recession in quick time, forgetting that Reagan raised taxes one fewer times than years served and tripled the nation’s deficit in an unprecedented military buildup.
All fun rides must come to an end, though, and the Soviet economy collapsed just ahead of America’s as the dark humor went.
The U.S. economy is puttering along OK, all things considered. The last time Wall Street sociopaths wrecked global economies, it took a decade and a world war to pull out of the funk. Petulant Republicans doing whatever damage to America they can to cause the president to fail doesn’t help.
America is producing plenty of treasure. Our barons are doing better than ever. Pay taxes? The little people are giving them money.
Wall Street used taxpayer bailout money for grotesque compensation and to lobby Congress, lest they had any notion their behavior needed to be more stringently regulated. Wall Street is soaring. It’s millions of Americans who are still waiting to be trickled down on.
Seems like the verdict is in on supply-side economics after all these decades. It doesn’t bring out the best in human nature. Good on the pope to speak out against income inequality.
The condition makes for an unhealthy society. America, at her best in the mid-century, when there existed a happy muscular middle class, could raise a family and dream of sending their kids off to college without having to enter indentured servitude with Sallie Mae.