By Robin Hahnel, Contributing Columnist
We just had an election which repudiated the Republican economic agenda for America. So what begins the morning after? The only economic subject talked about is “the fiscal cliff” — the Republican economic agenda!
The fiscal cliff is the latest version of the same trap the wealthy, the military industrial complex, and the Republican Party have been setting over and over again since Ronald Reagan was elected in 1980. The interesting question is why anyone still falls for it.
If the federal government cuts taxes for the wealthy, and if the federal government insists on growing a military industrial complex even after the cold war has ended, then, eventually, there is no alternative in the long run but to either cut federal spending on domestic programs that actually help people and make the economy more productive or to increase taxes on the middle class or to let the national debt continue to grow. That is simple arithmetic. Continue reading