Sen Franken's Economic Truth (With Charts, Graphs And Pictures)

US Senator Al Franken explains very clearly how the US has historically solved economic problems, why we are in our current mess and what we need to do to get out of it. Speaking just before the Senate adjourns for the fall elections Senator Franken said "Our economy is still not yet fully recovered from a devastating recession, and the prospects for our middle class remain uncertain. Meanwhile, our budget remains sorely out of balance, and our long-term debt crisis is putting our nation?s fiscal future at risk." "We?re not going to get anywhere if we can?t agree that, yes, the government does have a role to play in helping the private sector create jobs. And, no, you can?t cut the deficit by cutting taxes. And, yes, we are going to have to both raise revenue and reduce spending if we want a balanced budget. And, no, asking the wealthy to pay a little more won?t drive us back into a recession."

[sidneycooper]

They were moved because of corporate avarice. Under the conservative era, ushered in by President Reagan, the concept of coporate social responsibility has disappeared, and with it the middle class.

[sidneycooper]

Massive infrastructure investment is exactly what's needed. That is not theoretical or hypothetical. In the 50's and 60's the U.S. invested approximately 4% of GDP in infrastructure. The result was about 5% growth in GDP each year. That's not speculation. That's history. Currently, we spend less than 2% of GDP. We cannot remain competitive globally with a third world infrastructure, which is what we have now.

[sidneycooper]

These were policies pushed by and enacted by Republicans, although some "conservative" Democrats were complict or even co-conspirators. 40 thousand factories were moved off shore under President George W. Bush alone. It's difficult to hire people back when the places they were employed no longer exist within our borders. Most of those factories were profitable and competetive.

[BitZKriGC]

in fact america is only 8% unemployed france spain and greece are nearly 5x as bad

[kathy]

great video. instead of ignorant republicans listening to the bs rhetoric of fox news and limbaugh and other ignorant sources all republicans should listen to sen franken. obama 2012

[sidneycooper]

But let's circle back to your original premise - that inflation is destroying the middle class. You are just plain wrong. Anti-union laws, combined with tax policies that encourage companies to offshore jobs and profits are the two greatest destroyers of the middle class.

[sidneycooper]

The only problem with your comment is that we are NOT experiencing rampant inflation. In fact, inflation is at historic lows. So, try to pay attention to Senator Franken. He is speaking facts, not political ideology. If you have to ignore facts to make your point, you really don't have a point.

[BitZKriGC]

uuuh speak for yourself the european union has a debt triple of the united states and we had to save half of europe

[jcp]

Care too back up that declaration with an actual argument? Or are you here too take up space on this thread Gerald?

[MrLoveovercomes]

Senator Franken, attempts to make points that us winning the "Space" war enhanced our technological advancements. Yet, he is putting tinny board graphs. With all the monies allocated to the Capitol, there are not large screens available? It is sad that shuffling papers is still a norm in such high an office. That it seems those of us said to be idiots and lower class have to be more technologically advancement in practice to be in the nobody class. This does not set a good example...

[PHONEYPOLITICS]

charts gra[hs and pictures eh, woo hoo