The column blasts Wall Street handouts and bailouts, and rightly so. After massive government bailouts and investment, CEOs (and the rest of the “Alphabet Club”) give themselves six-figure bonuses. Never has failure so abject been so richly rewarded — again and again and again.
The overlooked part is this administration’s investments in so-called “green energy” jobs. Solid marketable green energy products, tried business models and economic leadership does not attract as many governmental “green dollars”, another massive governmental bailout, as supporters, contributors and bundlers of this administration’s reelection effort do. One collapse after another of a green initiative finds taxpayers recouping dimes on the dollar, and a political donor or rich bundler in the middle of the bankruptcy contortions.
Political donors and rich bundlers must be a more benign species of one-percenters.
Also overlooked in this telling, 70 percent of the members of the Senate are millionaires and qualify as these same one-percenters. This may explain the economic malfeasance and governmental mismanagement noted in the article.
A certain prominent one-percenter, occupant of the White House, is prone to lecture on rightness and economic fairness.
Since the initiation of the “War on Poverty,” our country has spent about 15 trillion tax dollars in the struggle. In the last 3½ years, food stamp enrollment is up 40 percent, while the increase in families below the poverty line has increased at about half that rate. American families have lost about one-third of the value of their accrued wealth, drawing the poverty line closer to us all.
In the rarefied air of Washington and other elitist breeding grounds, “trickle up”, success, jobs and employment have different meanings than out here where friends, family and colleagues are still losing jobs, futures and closing homes while Enlightened Progressives tell us all about their successes.