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The mainstream media have made much of the "sequestration" process that kicked in on March 1. But they're not fooling us - or Bill Black.
 | | Economist Bill Black |
Though Black, the highly-regarded associate professor of economics and law at the University of Missouri-Kansas City, has never heard of the NPA, he has, for the past four years, been singing our song.
Black has documented how sequestration is the ultimate assault on our New Deal safety net - and how Barack Obama's so-called "Grand Bargain" is in fact the final "Great Betrayal" that seals the deal.
It started, Black contends, over 40 years ago, with "deregulation" under Jimmy Carter. It intensified with Ronald Reagan's "starve-the-beast" tax cuts and union busting; it continued with two public-sector "downsizing" schemes known as "welfare reform" and "reinventing government" under Bill Clinton; and kicked into overdrive with George W. Bush's two unfunded wars and tax cuts, which took us back to Depression-era revenue levels.
And now we're presented with "sequestration," the bi-partisan deal touted as "necessary" to cut the deficit and address debt through across-the-board budget cuts. This sham "solution" is in fact aimed at making us not only accept but embrace reductions in Social Security, Medicare, Medicaid, and unemployment benefits as being "in our best interests."
To which we - and Professor Black - say, "Hogwash."
The NPA agrees with Black: The antics of the duopoly have created our financial problems, and sequestration will only prolong and worsen them.
Far better and more sensible solutions are found in the NPA's Unified Platform, which advocates rearranging our policies and priorities to support full employment at a living wage, and the creation of a real social safety net, particularly Medicare for All - which would provide not only significant future savings, but public-sector jobs, bringing to an end Big Insurance's practice of profiting on people's pain and suffering.
For a more thorough treatment of sequestration and its discontents, please visit It's Our Economy.
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