US Congress still fails to “get it”
No one in the US Congress has admitted to a role in the current Big Recession. Congress owes the American public an apology. Is the US Congress simply not aware that they created this economic mess? The honorable action would be to step up and admit that the Congressional legislation they passed has put us in today’s economic mess. Congressional members are addressed as the “Honorable”, but are they?
Americans with an uneasy feeling about current economic affairs need to recognize exactly who is to blame: the US Congress. Not only did they cause the current financial crisis, they caused the 1987 financial crisis. At the time, the “Star Wars” defense initiative had many big military contracts with the aerospace defense industry, mostly in Southern California. When the old Soviet Union dissolved, Congress determined that the military contracts were no longer needed. Congress canceled the “Star wars” program.
The result was massive layoffs and a housing crash (primarily in Southern California) and a shock wave to the stock market. That’s history that was never formally published. Just like today’s history omits the fact that Congress was and is responsible for the Big Recession.
One last comment and question; “Where’s all the money that we gave you (actually, you took it) for Social Security. If you put the money into the S&P 500 and invested it wisely, social security would be in good shape. Oh! You didn’t do that?
We can’t “fire” them for being evasive or stupid, but we don’t have to re-elect them.