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Thursday, January 22, 2009

141 - The Earth Is Flat, The Moon's Made Of Green Cheese, And The New Deal Was A Terrible Failure: Debunking The Latest Right-Wing Propaganda

Ok, right-wingers aren't (at least currently) making any claims about the shape of the Earth, or the composition of the moon. But they are ranting and raving about FDR and the New Deal.

The right is attacking FDR's New Deal spending.

This gives them the perfect opportunity to attack Obama's financial stimulus package.

This is their new mantra:

The New Deal failed.

It's not that right-wingers are heartless, and don't want a New Deal-type effort that will help people. No, it's that the New Deal made things worse, or was even the very cause of the Great Depression.

Right-wingers are just looking out for the little guy. Just like they always do.

Am I being a bit sarcastic today?

Sometimes all I can do is shake my head in disbelief.

For all the gory details, check out the podcast.

(PS: Right-wingers, if you want to write in to me, fine, but at least do me the courtesy of listening to the podcast first. Please don't respond just on the basis of the brief preview above. Thanks!!)

#141 Transcript
#141 Transcript as a Word document
#141 Sources

Jack Clark 1:01 PM [+]
Post #455664215413654152


Comments:  This section is for listeners. To receive a reply from Jack Clark, you should call the comment line.






I generally like and agree with your podcasts for the most part. For the most part I agree with this one. That is with the exception of one terrible error. The error was in your choice of bumper music. You chose a song with a refrain about killing the poor. You failed to use the song, "Kill The Poor" by Dead Kennedys and instead used lame crap. If you would have used the right song, the podcast would have been perfect
posted by Anonymous Anonymous  8:21 PM   [+]
 
Good issue. It would be good if you could also deal with the residual debt issue from the New Deal. I don't know but I am sure if any still exists, servicing it costs much less than 1% of the Federal budget. Someone must know the answer to this. Also, of course, the GOP left this massive debt (pre-Obama/stimulus) of more than 10 trillion, having inherited a surplus budget from Bill Clinton. Thus what Obama is talking about will be a less than 10% increment on their debt
posted by Anonymous Anonymous  12:30 AM   [+]
 
After WW2, we ran trade surpluses for decades and saw the debt decline all the way to 30% GDP, the lowest of any industrialized country.

The current debt is due to the huge climb in the 80s, under Reagan. He pushed the debt back to 70% GDP, Clinton cut it down to 60%, and today we are close to 70% again.

Debt from the 30s was financed at very low interest rates - adjusted for inflation, we paid virtually nothing... the same is actually true for Obama. Demand & inflation are so low and fear of private banks is so high, people are actually buying Treasuries at NEGATIVE real rates! Yep - foreigners are actually paying the Government to borrow their money because they are afraid to let anyone in the private sector hold it.
posted by Anonymous Anonymous  10:03 PM   [+]
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Jack Clark documents the right's wars on the poor, civil liberties, the right of workers to organize at work and obtain a decent working wage and work conditions, and against other countries who refuse to accept American domination. Jack provides all the sources so that you can see for yourself how the right is out to enrich itself at the expense of everyone else. Great job, Jack!
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