Thursday, September 2, 2010

"The Let Them Eat Cake School of Economics"

Paul Craig Roberts, Assistant Secretary of the Treasury in the Reagan Administration, reminds us that "the minute one looks out the window upon the world, one realizes that cutting Social Security, Medicare, Medicaid, food stamps, and housing subsidies when 15 million Americans have lost jobs, medical coverage, and homes is a certain path to death by starvation, curable diseases, and exposure, and the loss of the productive labor inputs from 15 million people" — Death By Globalism.

Dr. Roberts explains that "unless starvation, homelessness and social upheaval are the goals, the austerity must fall on the military budget." He continues, "America cannot afford its multi-trillion dollar wars that serve only to enrich those invested in the armaments industries. The U.S. cannot afford the neoconservative dream of world hegemony and a conquered Middle East open to Israeli colonization."

This is what Congressman Ron Paul has always advocated. Despite being labelled an ideological libertarian, he is nothing of the sort. While acknowledging that the "Social Security, Medicare, Medicaid, food stamps, and housing subsidies" that Dr. Roberts mentions have a detrimental effect on recipients, he understands that people, through little fault of their own, have grown dependent on them.

"I would cut from overseas spending, I would cut from these trillions and trillions of dollars that we have spent over the years and bring our troops home so that we can finance it [health care]," said Dr. Ron Paul more than a year ago — Ron Paul: End wars to fund health care. Instead, we cater to "those invested in the armaments industries" as Dr. Roberts mentions.

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Blogger J.K. Baltzersen said...

Didn't Dr. Roberts retire, sir?

9:03 PM  
Blogger The Western Confucian said...

That was the impression I had, and may have spread, but I am glad it appears not to be so.

9:36 PM  
Blogger love the girls said...

"fiscal austerity consisting of higher taxes and reduced government spending could be the cure for unemployment."

Winnowing out the poor by starvation and the like is a rather messy way to solve unemployment, but unfortunately death by warfare is no longer a viable option because the fiscal cost of warfare now out weights the benefits.

They could shut down the boarders from outsourced goods and labor, and start manufacturing again here at home using Americas, but for some unfathomable reason, that is simply not an option.

10:27 PM  
Blogger The Western Confucian said...

Exactly what Roberts advocates in this article and has been advocating for years now.

11:19 PM  

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