Economy and Jobs

It’s time to realize that many of the problems our economy is facing are interrelated and have developed over the last 30 years as a result of the conservative republican agenda. Such cherished republican ideals as free trade, deregulation, courting lobbyists, tax cuts, demonizing government, deficit spending, etc. have led us to where we are today. We need solutions to these underlying problems, not anemic stimulus programs to tide us over to the next crisis. We need leaders. Ask yourself are we as a nation better off today than we were 30 years ago? Will our children be better off than we were if we continue on this path?

Decimated Our Industries

Republicans and "corporate" Democrats decimated our industries with an irresponsible and reckless approach to international trade. In the name of free trade our markets are exposed to targeted attacks by foreign corporations with the help of their home governments. Our corporations lobby for tax breaks to move overseas in order to compete. This leads to loss of good paying jobs and corresponding income taxes which causes a loss of tax revenues and higher deficits. Then factory closings cause the loss of local property tax revenue for our schools. Our environmental regulations are under pressure from the World Trade Organization. By demonizing government they have cut back on government backed research in practically every area, while other nations are increasing their research spending. Research is the lifeblood of the American economy.

Deregulation of Wall Street

The deregulation of Wall Street led to our current financial crisis. Wall Street was able to repeal financial regulations because of their lobbying power on Capitol Hill. The agencies that regulate Wall Street like the Securities and Exchange Commission (SEC) were starved for funds and demonized by the Republicans, so you have a lack of oversight that leads to Bernie Madoff. Totally unregulated hedge funds drove the price of a barrel of oil from $50 dollars to $150 from January 2007 to June 2008 and when they have to divert money from the scheme oil crashes to $35 a barrel in just five months. A barrel of oil is now traded 27 times on Wall Street before it reaches the refinery. Ask yourself, how is any of this good for our nation and our economy?

This is Not a Normal Recession

This is not a normal recession; it’s the culmination of 30 years of bad choices. We need to look at the whole economy, strive to discover the facts, and determine how best to face the problems they present. Please read some the other issue areas for more detailed analysis of the problems and suggested solutions.

Do you live in the 6th Congressional District?Click on the map to view
North Carolina's 6th Congressional District.