Are we better off than four years ago?

Four years ago the world economy was in free-fall, home values shrinking, bankruptcy rates climbing, 401k and IRA accounts crippled, stock market crashed, jobs lost at a rate of 800,000 a month, and the federal debt exploded during President Bush, due to two major tax cuts disproportionately benefiting the rich, two wars, and a Medicare prescription plan – done without any plan to pay for it.

The debt quadrupled under Reagan and H.W. Bush and then doubled under W. Bush. The debt has gone up under Obama, but he’s carrying the unpaid Bush legacy, on top of trying to save the economy from ruin.

For 50 years, nearly twice as many private sector jobs have been created under Democratic administrations than Republican: 42 vs. 23 million. Clinton’s 8 years alone yielded 20 million new jobs, W Bush yielded a negative 600,000, and since January 2010, Obama has added 4.5 million jobs.

Republicans are still trying to sell the failed policies of “Trickle Down” economics, deregulation of industry and Wall Street, tax cuts for the rich, and elimination of programs meant to build a strong middle class and a robust infrastructure.

David Stockman, Reagan’s budget director invented “Trickle Down” and has since denounced it as a failed policy. Recently he said, “The Republican Party has totally abdicated its job in our democracy, which is to act as the guardian of fiscal discipline and responsibility. They’re on an anti-tax jihad - one that benefits the prosperous classes.”

Jon Monday