Courtesy of Dallas Federal Reserve Bank

A very conservative bank, in a very conservative state, came up with a very conservative total on how much damage Republican policies cost the once great United States of America. $14 Trillion.

When even very astute conservatives blame their own policies for RUINING the financial health of this nation, one has no choice but to take notice.

$14 Trillion. How much is $14 Trillion? 7 years of total Government spending, INCLUDING all the entitlements involved with Social Security, Medicare, and Veterans Benefits. How much is $14 Trillion? $14 Trillion would pay off every mortgage existing now in the United States of America. It would pay off the entire student college loan debt fourteen times over! How much is $14 Trillion? it would pay down 7/8ths of the entire National Debt! How much is $14 Trillion? It is 7/8ths of our yearly GDP, seven eights of every single dollar spent per year in the USA by you, me, our rich uncles, our poor aunts, and our government….

That is how much the Bush Era cost America…. $14 Trillion.

So let’s look at this once touted Republican agenda.

Did the tax cuts work? No, they cost us $14 Trillion.
Did deregulating derivatives work? No, they cost us $14 Trillion.
Did less regulation of the financial sector work? No, it cost us $14 Trillion.
Did funding two wars and Medicare Prescription Drug benefits by borrowing money work? No, they cost us $14 Trillion.
Did it work to give banks huge incentives to invest dangerously? No, it cost us $14 Trillion.
Did it work to pass laws forbidding workers to strike? No, it cost us $14 Trillion.
Did de-regulating oil hedge funds work? No, it cost us $14 Trillion.
Did cutting back government spending work? No, it cost us $14 Trillion.
Did removing limits to keep down the scalping of student loan interest rates work? No, they cost us $14 Trillion.
Does keeping minimum wage at low slave levels work? No, it cost us $14 Trillion.
Did re-making our medical care into a for-profit system work? No, it cost us $14 Trillion.
Did subsidizing Halliburton with $39.5 billion work? No, they cost us $14 Trillion.
Did letting the rich get richer; forcing the poor to get poorer, work? No. It cost us $14 Trillion.

Just think. Back in 2001 when Republicans began pushing their tax policies, did you know that doing so would begin to cost us 8 years in our future, $14 Trillion? 7/8ths of our nation’s yearly output? If you read the Congressional Record from back then, the Democrats and the CBO certainly did, though their lowballs of $10 Trillion came in a little under. But it was rather obvious that tinkering with the Clinton dynamo would be risky, that things were working so well, that getting to the destination of having a national debt at zero ought to be achieved before we began going the opposite direction.

But Republicans always when given a choice, choose to respond to lobbyist’s entreaties of support, instead of looking for support from everyday normal American people, so those warnings were all for naught.

And unfortunately still are. Even after a conservative bank, in a conservative state, published their conservative estimate, that the Republican policies cost this nation $14 Trillion Dollars….

In their own words….

“It is crucial to identify the primary causes and implement effective policy to avoid future episodes whose magnitude could exceed even the staggering costs and consequences of the most recent financial crisis.”

That primary cause back then, as well as today, is any policy Conservative! Especially those of the Tea Party!

Advertisements