MarketWatch: Reaganomics $3.9 trillion debt outrages taxpayers

PAUL B. FARRELL
Reaganomics $3.9 trillion debt outrages taxpayers
Mad as hell? Try the Zen Millionaire's 12-step 'antirage' meditation

By Paul B. Farrell, MarketWatch


ARROYO GRANDE, Calif. (MarketWatch) -- Are you mad as hell? I am! Bumbling politicians are dumping trillions of new debt on us taxpayers! First neocons triggered a $3 trillion war debt. Then government piles nearly another $1 trillion in new debt on taxpayers, mostly bailing out greedy, incompetent Wall Street co-conspirators.

They can't seem to stop throwing taxpayer money at losers. Treasury Secretary Henry Paulson's trying to con taxpayers into adding a megabailout scheme, the most aggressive Reaganomics blunder in history, a new superagency to off-load all of Wall Street's bad debts on us taxpayers. That's the pinnacle of "moral hazard."

Warning: It will restart this lethal bubble/bust cycle rapidly and with a vengeance when the new Wall Street bank holding companies get direct access to your bank accounts, exactly what they want for a new, bigger round of Reaganomics disasters.

Mad? Outraged is a better word: The Wall Street that was acting like an out-of-control drunk now hopes taxpayers and Congress are too stupid to figure out its scam.

Do the math folks: With a straight face these rabid ideologues are disgracing Reagan's great conservative principles while trying to shift the blame to Democrats as tax-and-spenders. What a bunch of hypocrites! Truth is, Reaganomic extremists are the ones responsible for adding this $3.9 trillion new debt that taxpayers must pay for in new taxes. So who's going to bail out America?

'Reaganomics is dead, long live Reaganomics!'

Reaganomics is guaranteed to re-emerge soon with many more deceptive killer tricks once Morgan, Goldman, Merrill and buddies get your checking accounts. Paulson's "act now" demand is a classic Reaganomics fear-mongering tactic. As "Shock Doctrine" author Naomi Klein recently said: "Whatever the events of week mean, nobody should believe the overblown claims that the market crisis signals the death of 'free market' ideology." Reaganomics "free market ideology has always been a servant to the interests of capital, and its presence ebbs and flows depending on its usefulness to those interests." ......(more)

The complete piece is at: http://www.marketwatch.com/news/story/embittered-bailout-try-zen-millionaires/story.aspx?guid=%7B69D37452%2D6F17%2D42DD%2DA3DA%2D334864E446B3%7D