How GOP responds to rosy economy

Okay. Let me get this straight. In early 2009, we were reeling from the effects of the Great Recession. The unemployment rate was heading toward the October peak of 10 percent. The Dow Jones bottomed out at 6,626 and the value of our retirement funds dropped by close to 50 percent. The Democrats supported the ARRA bill which included a payroll tax cut, infrastructure spending, money for health care information technology, support for Medicaid and education, and a wide array of other targeted items. It is widely accepted that it slowed the free fall of the economy, reduced unemployment, and helped to turn the economy around after the most severe recession since the Great Depression. The cost was around $800 billion. Republicans fought against it and pushed the baldfaced lie that it wasn't effective for years.

Today, the unemployment rate is at 4.1 percent. The Dow Jones is at 24,585. The top 50 companies are sitting on more than a trillion dollars in cash. The share of wealth owned by the top 10 percent has doubled since 1990. What is the Republican response to rosy economic news and growing wealth inequality? They want to stimulate the economy by reducing the tax rates for corporations and pass-through businesses. They want to reduce taxes for those already doing extraordinarily well. It will reduce revenues by at least $1 trillion dollars even though we have an enormous deficit spending problem. Crazy, right?

David Troland

Arlington Heights