HuffPo - "One Year Later: The Lessons of a Failed Economic Philosophy"

[TomCADem]

Nice article and analysis by a Democratic candidate for the U.S. Senate next year:

http://www.huffingtonpost.com/alexi-giannoulias/one-year-later-the-lesson_b_287160.html

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Last week, the Census Bureau's annual report on income, poverty and health insurance, revealed that in the last decade, media household income has actually fallen. The Census Bureau has been monitoring household income for four decades. Not only have we experienced the first decade where median income has failed to rise, but it appears that this is the first decade on record where household income has declined.

Voters must not forget that the blame falls not just on the corporations that chose profits over sound policy, but that blame also falls on Congress who deliberately ignored the plight of working families over the last eight years.

Throughout his career in Congress, my likely Republican opponent was one of George W. Bush's biggest cheerleaders in Congress. Mark Kirk voted to support every single tax cut for the wealthiest 1%, every single budget that borrowed billions of dollars, and every single corporate subsidy for special interests that were putting profits over people.
 


Just as Wall Street has learned little from its prior bad acts, so too has Congressman Kirk been oblivious to the errors of his ways. Indeed, even recently, when President Obama proposed cutting taxes for the middle class, spending money on vital projects to create and save jobs, increasing unemployment benefits for those who lost their jobs, and rebuilding crumbling schools to invest in our children's future, Congressman Kirk voted no.
 


Last Friday, new Census figures drafted the definitive record on Bush's presidency and Congressman Kirk's economic philosophy. Those figures show that over the eight years that Congressman Kirk helped to implement George W. Bush's economic policies, median household income fell 4.2 percent, the number of children living in poverty increased by almost three million, and the number of uninsured increased by nearly eight million. 
 


Read more at: http://www.huffingtonpost.com/alexi-giannoulias/one-year-later-the-lesson_b_287160.html

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