The "con" in Econ

“Plan B for local government. City to cut public pensions. A extra-governmental committee of 10” attempting to revitalize city growth and build city revenues. Does anyone note a trend of desperation here?

Economic conservatism as practiced in California and the United States since its Reagan inception does not work. It is a failure. It is a governmental and economic disaster.

Reveune and investment in the future builds solid economic growth. This means that public investment through taxes, purchasing government bonds, and other investments will lead to economic growth. Tax cuts are short term stimulants but cannot be targeted to guarantee economic growth goals. The most recent middle class tax cuts by the current administration and the larger more damaging tax cut for the rich by the Bush Administration, lack investment value in the future because there is no predicting what people will spend it on. It does not trickle down. The rich just got richer. It doesn’t work to build a growth economy!

Tax credits can be targeted to encourage positive economic growth. However, tax cuts and credits always decrease revenue for government, schools, parks, police, fire; etc. Chronic low revenue for government services kills economic growth! No bridges, no commerce. No energy plan for the future, we run out of gas with no plan B. Our economy dies and our people go hungry.

California has cut revenues while increasing spending and borrowing. We are blithly destroying local and state governments and our school system while the conservatives scream for even more “stimulus” tax cuts and cuts in government. In fact the tax cutting mania has served to do just the opposite of its intent, acting to drag our economy and standard of living down. Now, we are reduced to special committees, Plan Bs, etc; while those who got us into this mess practice for a modern tea party, yet more tax cuts!

Is anyone out there paying any attention to the biggest con job in our history? Why not hold those who created this mess accountable just once? It is not an accident that con starts the word conservative.