Quote from Morgan Stanley: “WE WERE WRONG” Yes, that’s what they said today. BIDENOMICS is working! Current-dollar GDP increased to 9.2 percent, or $2.15 trillion. The real GDP is at a current level of 20.28 trillion up from 19.92 trillion one year ago. Which is 1.80 percent up from one year ago. Unemployment is at its lowest in 40 years. According to Morgan Stanley and most financial institutions, we have the strongest economy in the western world.
I grew up between the ’50s and ’70s, I remember we were proud of our country, It was the golden age of the middle class. When you finished high school you went out and found a job. You didn’t have to negotiate for 40 hours or health insurance; it was automatic. We were compassionate people and wanted to help everyone. There was no immigrant bashing. Most of us had parents and grandparents who were immigrants. Yes, there was racism and bigotry, but it looked like we were addressing those issues.
So what happened? It seemed that once President Reagan cut taxes for the millionaires and billionaires, middle-class standing seemed to go downhill. To pay for those tax cuts on the rich, he made Social Security taxable and started to cut funding for education. We have a strange way to pay for public schools by property taxes. So poor areas have less money to pay for their schools. At that time it became apparent that the federal and state government would have to step in and make up the difference. The state and federal governments would fund the schools by 80 percent and property tax the remainder. That is no longer the case, now it’s the opposite. Property taxes now pay 80 percent and the state and federal pay 20 percent.
So, schools now in poor areas are underfunded and in disrepair. Tell me that’s not a problem. That gives the politicians an excuse to try to eliminate our public schools and only fund private schools. Tell me again that there is no systemic racism in the country. Underfunded schools bring about inadequate opportunities for our children. I think that students in these schools know that the community doesn’t care about them. So we get crime, and what do we do about that? We build jails instead of improving schools. Let’s work on being proud again. Vote for people who care about our country.