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This recession is continuing because of consistent and near-unanimous obstructionism on the part of the Republican Party. In the 1980s, Reagan helped end the Carter recession by increasing our deficit to record levels. Using then record spending increases as well as big tax cuts, he pumped money into the economy and the economy worked again for nearly a decade.
In the 1990s, we recovered from the Reagan/Bush I recession by actively embracing new technologies, which led to new industries and new jobs. It was so successful that we were able to cut our deficit, and many people saw their quality of living improve.
Today, we have done the Reagan approach, with a significant stimulus bill, though unlike Reagan's ours was directed towards helping people at home rather than on foreign policy. However, this recession, considered the worst since the 1930s, needs more that just a stimulus. Our economy will recover if we actively embrace health care reform and alternative energy, both of which will result in the creation of new opportunities for big and small business. In turn, these initiatives will lead to ten of thousands of new jobs and tens of billions of dollars in savings over the long term.
In addition, we must raises taxes on the very, very wealthy, for they were the ones who more often reaped ill-gotten gains off the dishonest and corrupt system that eventually led to the demise of major companies, such as Enron, Arthur Anderson, and WorldCom, and caused the foreclosure crisis. But, the Republicans stand as a united block to stop this progress. In the name of patriotism and duty to their country, they must pay back some of these ill-gotten gains so that we can bring our deficit under control.
If the Republicans refuse to engage in bipartisanship, then it is the responsibility of the Democrats in Congress to find ways to implement the needed reforms to get our country back on its feet. Call your Democratic and Republican Congresspeople and tell them to get something done NOW!
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