Dennis Kucinich's Straw Man

http://www.futureofcapitalism.com/2010/08/dennis-kucinichs-straw-man

Rep. Dennis Kucinich was on ABC News's "Good Morning America" show this morning offering the following straw man argument: "We have to do something about the joblessness....We shouldn't be capitulating to the Fed or Wall Street with this false notion that a certain amount of unemployment is necessary for the proper functioning of the economy."

Come on. Who on Wall Street, or at the Fed for that matter, is running around calling for 9.5% unemployment for fear of triggering Phillips Curve-style inflation? It's not the jobs that Wall Street is worried about, it's the federal spending and the taxing and borrowing to pay for it.

Thanks to reader-participant-watchdog-community member-content co-creator F. for sending the link.

F. notes that the sad part of the video clip is that Mr. Kucinich says he won't run against Mr. Obama for president in 2012. Alas.

by Ira Stoll  |  Aug 12, 2010 at 9:33 am Related Topics:  Federal Reserve, Politics, President Obama, Stimulus, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list