That's a really powerful line.
Thing is, it's largely not true.
The country actually has a whole lot of money. Huh? Really? Ya. But we've hugely concentrated that money with a few people, so most of the country 'feels poorer'.
Why, l look at that big debt! That means we're out of money! No, it doesn't. It means that to protect the concentration of wealth, they've happily run up the public debt.
While the US economy has doubled in size, all growth after inflation has gone to the very top - none to the bottom 80%, a little to the next 18%, a huge amount to the top 0.1%.
Imagine a married couple where one spouse spends a fortune on what they like, and says 'we're broke' whenever the other wants anything. Imagine a company that doubles in size, and the compensation for the executives goes up ten times, but they refuse to hire more workers, adding to their requirements and not giving them any raise, saying 'we're broke'.
Imagine your city building a lavish new gym and olympic swimming pool and 4-star restaurant only for use by city hall staff, while closing all the libraries, saying 'we're broke'.
You get the idea. This works well as long as the side getting screwed isn't too aware of the imbalance. And that's what they're doing with wealth in the country.
There isn't much publicity for the way corporate profits and stored cash are soaring, how the richest people are going up multiples in wealth, during this period.
It's important to them to have the 'we're broke' line stick with people, to get their support for cutting the American people's share of spending, as part of the concentration of wealth.
'Sorry honey, we have to end your gym membership, cancel your vacation, and put you in a cheaper car, because we're broke' (Actually, because I want a new wine for the rack).
So, 'we're broke' - political pragmatism, or propaganda for the rich to screw the American people yet again, getting their support to very selectively cut spending - after a period of adding tax breaks and loopholes for the wealthy after stirring up 'we hate taxes' hysteria to build public support for that.
The American people are not doing well at getting informed and recognizing the lies they're being told.
Here's a link to a study which documents the facts supporting the conclusion this is about a 'phony austerity to mask the increased concentration of wealth:
http://www.ips-dc.org/reports/unnecessary_austerity_unnecessary_government_shutdown
As a web page comments on the report:
Thing is, it's largely not true.
The country actually has a whole lot of money. Huh? Really? Ya. But we've hugely concentrated that money with a few people, so most of the country 'feels poorer'.
Why, l look at that big debt! That means we're out of money! No, it doesn't. It means that to protect the concentration of wealth, they've happily run up the public debt.
While the US economy has doubled in size, all growth after inflation has gone to the very top - none to the bottom 80%, a little to the next 18%, a huge amount to the top 0.1%.
Imagine a married couple where one spouse spends a fortune on what they like, and says 'we're broke' whenever the other wants anything. Imagine a company that doubles in size, and the compensation for the executives goes up ten times, but they refuse to hire more workers, adding to their requirements and not giving them any raise, saying 'we're broke'.
Imagine your city building a lavish new gym and olympic swimming pool and 4-star restaurant only for use by city hall staff, while closing all the libraries, saying 'we're broke'.
You get the idea. This works well as long as the side getting screwed isn't too aware of the imbalance. And that's what they're doing with wealth in the country.
There isn't much publicity for the way corporate profits and stored cash are soaring, how the richest people are going up multiples in wealth, during this period.
It's important to them to have the 'we're broke' line stick with people, to get their support for cutting the American people's share of spending, as part of the concentration of wealth.
'Sorry honey, we have to end your gym membership, cancel your vacation, and put you in a cheaper car, because we're broke' (Actually, because I want a new wine for the rack).
So, 'we're broke' - political pragmatism, or propaganda for the rich to screw the American people yet again, getting their support to very selectively cut spending - after a period of adding tax breaks and loopholes for the wealthy after stirring up 'we hate taxes' hysteria to build public support for that.
The American people are not doing well at getting informed and recognizing the lies they're being told.
Here's a link to a study which documents the facts supporting the conclusion this is about a 'phony austerity to mask the increased concentration of wealth:
http://www.ips-dc.org/reports/unnecessary_austerity_unnecessary_government_shutdown
As a web page comments on the report:
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