Romney and Ryan’s Economic Plan

How Romney Keeps Lying Through His Big White Teeth
By Robert Reich

Tuesday August 28, 2012

“We’re not going to let our campaign be dictated by fact-checkers,” says Neil Newhouse, a Romney pollster.

Presumably the Romney campaign continues its false claims because they’re effective. But this raises a more basic question: How can they remain effective when they’ve been so overwhelmingly discredited by the media?

The answer is the Republican Party has developed three means of bypassing the mainstream media and its fact-checkers.

The first is by repeating big lies so often in TV spots – financed by a mountain of campaign money – that the public can no longer recall (if it ever knew) that the mainstream media and its fact-checkers have found them to be lies.

A series of court decisions and regulatory changes, beginning with the Supreme Court’s ruling in Citizen’s United vs. Federal Election Commission, opened the floodgates to big money. Fully a quarter of the $350 million amassed by Super PACs through the end of July came from just ten donors, according to the Center for Responsive Politics, a non-partisan group that tracks such spending.

And through political front groups masquerading as nonprofits charitable, like the U.S. Chamber of Commerce, corporations and Wall Street banks are making secret contributions — without even their own shareholders knowing.

The second means the GOP has developed to protect its lies is by discrediting the mainstream media – asserting it’s run by “liberal elites” that can’t be trusted to tell the truth. “I am tired of the elite media protecting Barack Obama by attacking Republicans,” Newt Gingrich charged at a Republican debate last January, in what’s become a standard GOP attack line.

To be sure, the mainstream media hasn’t always called it correctly. Initially it bought the Bush administration’s claim there were “weapons of mass destruction” in Iraq. But the mainstream media is at least committed to professional standards that separate truth from fiction, seek objective facts, correct errors, and disseminate the truth.

The third mechanism is by using its own misinformation outlets – led by Fox News, Rush Limbaugh and his yell-radio imitators, book publisher Regnery, and the editorial page of the Wall Street Journal, along with a right-wing blogosphere – to spread the lies, or at least spread doubt about what’s true.

Together, these three mechanisms are creating a parallel Republican universe of Orwellian dimension – where anything can be asserted, where pollsters and political advisers are free to create whatever concoction of lies will help elect their candidate, and where “fact-checkers” are as irrelevant and intrusive as is the truth.

Democracy cannot thrive in such a place. To the contrary, history teaches that this is where demagogues take root.

The Romney campaign has decided it won’t be dictated by fact-checkers. But a society without trusted arbiters of what is true and what is false is vulnerable to every lie imaginable.

 

Labor Day 2012 and the Election of 2012: It’s Inequality, Stupid
By Robert Reich

Thursday, August 30, 2012

The most troubling economic trend facing America this Labor Day weekend is the increasing concentration of income, wealth, and political power at the very top – among a handful of extraordinarily wealthy people – and the steady decline of the great American middle class.

Inequality in America is at record levels. The 400 richest Americans now have more wealth than the bottom 150 million of us put together.

Republicans claim the rich are job creators. Nothing could be further from the truth. In order to create jobs, businesses need customers. But the rich spend only a small fraction of what they earn. They park most of it wherever around the world they can get the highest return.

The real job creators are the vast middle class, whose spending drives the economy and creates jobs.

But as the middle class’s share of total income continues to drop, it cannot spend as much as before. Nor can most Americans borrow as they did before the crash of 2008 — borrowing that temporarily masked their declining purchasing power.

As a result, businesses are reluctant to hire. This is the main reason why the recovery has been so anemic.

As wealth and income rise to the top, moreover, so does political power. The rich are able to entrench themselves by lowering their taxes, gaining special tax breaks (such as the “carried interest” loophole allowing private equity and hedge fund managers to treat their incomes as capital gains), and ensuring a steady flow of corporate welfare to their businesses (special breaks for oil and gas, big agriculture, big insurance, Big Pharma, and, of course, Wall Street).

All of this squeezes public budgets, corrupts government, and undermines our democracy. The issue isn’t the size of our government; it’s who our government is for. It has become less responsive to the needs of most citizens and more to the demands of a comparative few.

The Republican response – as we saw dramatically articulated this past week in Tampa – is to further reduce taxes on the rich, defund programs for the poor, fight unions, allow the median wage to continue to fall, and oppose any limits on campaign contributions or spending.

It does not take a great deal of brainpower to understand this strategy will lead to an even more lopsided economy, more entrenched wealth, and more corrupt democracy.

The question of the moment is whether next week President Obama will make a bold and powerful rejoinder. If he and the Democratic Party stand for anything, it must be to reverse this disastrous trend.

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