Class Warfare Blog

February 13, 2013

Surprise, Surprise! Republicans FOS . . . Again!

Republicans blame government spending for the slow recovery from the Great Recession, that and high taxes and regulation and the oft mentioned but never defined “uncertainty.” Gosh, the fact that we don’t know what the future will bring has brought businesses to their knees! Has anyone . . . ever . . . known what the future will be? Amazing!

Well, here to pop the Repubs balloon(s) is an article supplied by Reuters:

(Reuters) Tax and regulatory uncertainty, blamed in some quarters for keeping companies from hiring, has little to do with high U.S. unemployment, according to research by the San Francisco Federal Reserve Bank published Monday. The main reason that U.S. unemployment has remained high is likely because households hurt by the housing crash simply are not spending, according to the research, published in the latest issue of the San Francisco Fed’s Economic Letter. Focusing on the reasons businesses cite for not hiring, the study’s two authors – Atif Mian, a Princeton University professor who is currently a visiting scholar at the San Francisco Fed, and Amir Sufi, a professor at the University of Chicago Booth School of Business – found no correlation between worries about regulation and taxes, and employment growth.

“ ‘Employment collapsed precisely when businesses began worrying about poor sales,’ they said. By contrast, ‘there was almost no correlation between job growth in a state from 2008 to 2011 and the increase in the percentage of businesses citing regulation and taxes as their primary concern.’

“Indeed, states where businesses increasingly cited regulation and tax worries actually had greater job growth than states without such intensifying concerns, though the correlation was not statistically significant, they said.” (Reporting by Ann Saphir)

Well, gosh, Paul Krugman is right and the Repubs are wrong. (At this point I am sure that Fox (sic) News will sneer and say “Oh, the San Francisco Federal Reserve Bank, a known to be liberal bank!”)

It is a good thing that the Repubs don’t mind being dead wrong on most of their issues. It doesn’t affect them like ordinary, you know, rational people. You and I would be tempted to change our minds when proven dead wrong over and over and over again. But Republicans “will not sacrifice their principles;” the foremost of which is “being wrong.”

And why must I get all of my serious news from foreign news agencies (Reuters is in London)? Hello? Is anyone else concerned that Al Jazeera does a better job or reporting political news than ABC, CBS, NBC, etc.? Kudos to Reuters for publishing the news.

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6 Comments »

  1. “being wrong” is a very lucrative business for Republicans…

    Comment by List of X — February 13, 2013 @ 11:19 am | Reply

    • They are not “wrong,” they just have a different agenda. They want to make money for their corporate masters but do not have any good arguments for doing so. (“I make lots of money doing this for them” doesn’t count.) They are left to choose from the seemingly possible causes for their actions of which none just happen to be true. The same is true for Creationists: they blame a belief in evolution on a “worldwide Darwinist conspiracy,” I wonder if those Darwinists have black helicopters?

      Comment by stephenpruis — February 13, 2013 @ 11:27 am | Reply

      • A human has nearly unlimited ability to justify his or her opinions and eventually even hold them as truth, especially if surrounded by people who hold the same opinions. However, the party has a sizable chunk of “true believers”, those who have their pre-set concepts of economics or religion and simply discard anything that does not fit the concept. And then there are “the owners”, those who personally benefit from the policies they propose, and for whom the self-interest “truth” trumps the greater good “truth”, even if they actually agree with it.

        Comment by List of X — February 13, 2013 @ 11:49 am | Reply

        • Sad, but true. A commitment to truth doesn’t seem to be on their radar except when it comes to “revealed truth” which they can believe because they were told it is so.

          Comment by stephenpruis — February 13, 2013 @ 11:53 am | Reply

  2. Reuters is a good company. Perhaps the last true news agency out there. My wife is the online editor for Brasil, did you know?

    Comment by john zande — February 13, 2013 @ 12:49 pm | Reply

    • You mentioned she was working for a “major news outlet” but didn’t mention Reuters. Please pass on my kudo to her!

      Comment by stephenpruis — February 13, 2013 @ 3:47 pm | Reply


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