Obama Channels Eugene McCarthy; Democratic Congressman Keith Ellison knows “the bottom line”

The July jobs report last month reported that 195,000 jobs were created in the economy.  The problem was that most were part –time.  Of 953,000 jobs created so far in 2013, 77% or 731,000 are part-time.  Most are in the retail and restaurant industries.  In June part-time jobs exploded, growing by 360,000, while full time jobs dropped by 240,000.

Thanks to my son, Chris (political writer and American History PhD), we may know why this is happening:  Democratic Congressman, Senator and five time Presidential candidate Eugene McCarthy proposed it in 1989.  In his 1989 book, Mr. McCarty proposed that we become a part-time work society as a means to reach full employment, improve income distribution, increase the consumer market, make a better life for the contemporary American family, and jump tall buildings in a single bound (okay, I made the last one up!).   The book, “Nonfinancial Economics” (the title says it all) was not a best seller but is still available on Amazon.com.

Proving that “nonfinancial economics” must be in the Minnesota water supply, one of its Congressman, Keith Ellison, has proposed the “Inclusive Prosperity Act”.  Explaining the Act at the July 25^th Progressive Democrats of America roundtable, Ellison said “the bottom line is we are not broke, there’s plenty of money.  It’s just the government doesn’t have it.”  Ellison continued, “the government has a right, the government and the people of the United States have a right to run the programs of the United States.  Health, welfare, housing—all these things.”  Ellison estimates his “Inclusive Prosperity Act” would raise $300 Billion in tax revenue annually by imposing a tax on the trading of stocks, bonds, and derivatives.

The revenue raised by the “Inclusive Prosperity Act” would, he said, “fund international sustainable prosperity programs such as health care, AID treatments, research and prevention programs, climate change adaption and mitigation efforts by developing nations.

Maybe we need to get Minnesota out of the union…….

I wrote this piece in jest, having received the two reports referenced today.  I took a break to have dinner and then came back to push the “publish” button when it hit me how serious this is.  This is a picture of ignorance: economic, financial, and social ignorance espoused by politicians that have and are being elected and re-elected to office.  So enjoy this short post.  And then get angry and fight back against ignorance.